Petrobras cuts 2015-19 capex by $32 billion

Petroleo Brasileiro SA (Petrobras) is reducing its planned capital expenditures for 2015-19 by $32 billion from the previously reported amount to $98.4 billion. Source: News

Premier to acquire E.On’s interests off UK

Premier Oil PLC, London, has agreed to acquire the UK subsidiaries of E.On, Dusseldorf, in a transaction valued at $120 million plus working capital adjustments. Source: News

MARKET WATCH: NYMEX oil price touches below $30/bbl, settles higher

Light, sweet crude prices for February delivery dropped nearly $1 on the New York market Jan. 12 settling at $30.44/bbl after touching a low of $29.93/bbl for the trading session. The Brent contract for February delivery settled at $30.86/bbl on the London market Jan. 12, up from its session’s low of $30.34/bbl. Source: News

Obama calls for more clean energy in final SOTU speech

In remarks emphasizing the importance of overcoming differences and working together to continue national progress, US President Barack Obama called for a stronger national effort to develop cleaner energy and move away from fossil fuels in his final State of the Union address. Source: News

EIA cuts 2016 crude oil price forecasts in latest STEO

The US Energy Information Administration has sharply cut its crude oil price forecasts through 2016 in its Short-Term Energy Outlook for January, which is the first to include a forecast for 2017. The cut is because of the continuing threat of a prolonged oversupply of crude as well as global inventory builds. Source: News