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29 May 2020

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29-May-2020 (12:32)
NCDEX Chana Futures See Marginal Losses
29-May-2020 (12:18)
Market Speaks: Global Oil And Gas Exploration Expenditures Likely To Drop From 2019's Four Year High

Global expenditures related to oil and gas exploration and development (E&D) increased $42 billion (13%) in 2019, totaling $361 billion, according to the aggregate financial reports for 102 oil companies, according to the US Energy Information Administration (EIA). Additions to these companies’ collective proved reserves totaled 18 billion barrels of oil equivalent (BOE), consistent with the 2010–18 annual average additions. As a result of the significant price declines since the beginning of 2020, however, global proved reserves will likely be revised significantly downward this year. E&D expenditures will also likely decline significantly, with several companies already announcing large budget reductions.

Proved reserves are defined as estimated quantities of oil and natural gas that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Because crude oil prices are paramount to the profitability of E&D projects, price changes can significantly affect companies’ proved reserves levels and the volume of reserves they can claim as additions. In a low price environment, E&D expenditures can also decline significantly. According to their financial statements, these companies’ collective E&D expenditures averaged $20/BOE in 2010–19, an average ratio of 26% to Brent crude oil spot prices during that period.

29-May-2020 (10:59)
Economic Buzz: Australia Private Sector Credit Flat In April
29-May-2020 (10:36)
LME Inventories Data
29-May-2020 (09:35)
Economic Buzz: Japan Unemployment Rate At 2.6% In April
29-May-2020 (09:22)
Economic Buzz: Japan Retail Sales Drop 9.6% On Month In April
29-May-2020 (09:20)
Economic Buzz: Japan Industrial Output Falls 9.1% In April
29-May-2020 (09:15)
Indian Rupee: To Stay Cautious Ahead Of GDP Data
29-May-2020 (09:03)
Economic Buzz: US Durable Goods Orders Tumble 17.2% In April
29-May-2020 (09:00)
Base Metals Preview: Copper Fails To Sustain In Positive Zone
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