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Tanker analysts are predicting the rate boom will persist for many of the same reasons oil forecasters are bearish.
The Beijing-based company known as Sinopec Group has steadily produced 15 million cubic meters of shale gas a day at the site for more than a month, it said in an e-mailed statement on Tuesday.
Alaska, Louisiana and Oklahoma have seen tax collections diminished by the rout, which has put pressure on credit ratings and led investors to demand higher yields on some securities
The analysis, posted on the Energy Department’s website Monday, comes as U.S. regulators consider an unprecedented number of proposals to export natural gas from booming shale fields.
The collapse in oil prices has slashed government revenue, forcing officials to draw on reserves and issue bonds for the first time in nearly a decade.
The state-owned oil producer is set to announce the staff reduction as part of the plan to restructure the company and to synchronize itself to industry standards, interim Chief Financial Officer Rodolfo Campos said in a phone interview this week.
Don’t be fooled by the ghost of oil prices past. The downturn will haunt the industry well into the new year.
Diamond Offshore plans to appeal the judgment, the Houston-based company said.
The company had been searching for a buyer for its 50 percent share of the Polar Lights field in northwestern Russia for more than 18 months as output slumped and international sanctions made it harder for U.S. companies to operate in Russia.
Mexico’s 2015 oil production is the lowest since at least 1990, when the government began recording output, and is more than 100,000 daily barrels below the original 2.4 million daily barrels forecast for the year by Chief Executive Officer Emilio Lozoya.