Moscow, Russia – February 11, 2016 – Mechel OAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports that supplies of 100-meter R65 DT-350 type rails to Russian Railways OAO have begun. Mechel OAO’s Chelyabinsk Metallurgical Plant has already shipped off the first 12,000-tonne batch to Russian Railways.
Chelyabinsk Metallurgical Plant supplies rails as part of a supplementary agreement to the 2008 strategic contract between the two companies. In 2016 supplies are due to amount to 150,000 tonnes. In particular, Russian Railways will use those rails for construction and reconstruction of North Caucasian and Kuibyshev railroads.
The rails are fully in compliance with Russian Railways’ requirements and were produced according to the certificate granted to Chelyabinsk Metallurgical Plant by Federal Railway Transport Certification Register in June 2015.
“Today prompt fulfillment of Russian Railways’ order is an absolute priority for Chelyabinsk Metallurgical Plant,” Mechel OAO’s Chief Executive Officer Oleg Korzhov noted. “The technology mastered by the plant enables it to produce rails whose qualities are on par with the best international peers and meet all needs of our country’s transport infrastructure development.”
Chelyabinsk Metallurgical Plant’s rails were produced using a unique heat treatment technology which enables the plant to produce rolls with superior wear resistance, durability and endurance limit. The plant produces rails at its universal rolling mill with a 1.1-million-tonne capacity, using the most advanced rolling, correction, processing and quality control technologies.
Capstone Asset Management Company raised its stake in Transocean LTD by 137.6% in the fourth quarter. Capstone Asset Management Company now owns 88,050 shares of the offshore drilling services provider’s stock valued at $1,090,000 after buying an additional 50,990 shares during the last quarter. Acadian Asset Management acquired a new stake in Transocean LTD during the fourth quarter valued at about $1,777,000. Finally, Chevy Chase Trust Holdings raised its stake in Transocean LTD by 0.7% in the fourth quarter. Chevy Chase Trust Holdings now owns 276,883 shares of the offshore drilling services provider’s stock valued at $3,428,000 after buying an additional 2,000 shares during the last quarter.
Transocean LTD (NYSE:RIG) saw a significant decrease in short interest during the month of April. As of April 29th, there was short interest totalling 92,818,174 shares, a decrease of 9.2% from the April 15th total of 102,262,843 shares.
"The oil market has gone from nearing storage saturation to being in deficit much earlier than we expected," Goldman Sachs (GS) analysts said in the research note.
The Wall Street firm said supply disruptions as well as stronger demand from India, China and Russia, were behind the sudden switch.
Lol, I have been saying the oil glut is NO real glut. The solution to an oil glut is low prices which leads to increase demand and then the shift of the supply/demand equation. Now we will have a deficit along with huge cancellation of capital investment these past two years which will result in a price spike in our near future. Long live the boom and bust cycle. The only problem is the cycle is much shorter with much more volatility in oil price.
With large decreases in capital budgets two years in a row the "yet to be found" and "yet to be developed" oil wedge grows which will lead to higher oil prices. In history we have never seen capital budget decreases for two consecutive years. Upward price volatility guaranteed. Exactly when it starts is the only unanswered question. Invest now and win later.
Of course, they have established their position in the first quarter of the year while they were screaming lower prices for longer. The so called glut will be gone within a year. Combine that with huge decrease in capital investment and oil prices are set to rise. All the frackers who hedged their oil at lower prices earlier this year will not realize their true profit. Long live hedging.....
All the talk about the Saudi's losing control over the oil market is just pure rubbish. History repeating....
Low oil prices did stimulate demand in 2015, and the volume growth of 1.8 mb/d was one of the highest
in the past 15 years. However, such strong growth is not expected to be repeated again this year and, in
the interests of improving energy efficiency, it is not desirable. From 2016 to 2021 we expect demand to
rise by around 1.2 million barrels per day – slightly higher than the trend seen in the past decade – and it
will cross the symbolic level of 100 mb/d in 2019 or 2020.
On the supply side, low oil prices have started to put a brake on non-OPEC producers, US light tight oil in
particular. Non-OPEC production is expected to decline by 700 000 barrels per day in 2016. This would
be its largest annual decline since 1992. Supply from other non-OPEC producers, including Russia, China, Mexico and Colombia will decrease throughout the period due to lack of new investments.
With the fall in non-OPEC production we are seeing, we can expect the market to come back to balance
in 2017. From 2018 onwards there will be stock draws, leading to a gradual increase in price levels.
Current oil market conditions should not disguise potential risks to energy security.
This is because the oil and gas industry reacted to the 2015 price collapse with a historically
unprecedented wave of investment cuts. Companies are substantially cutting upstream capital
expenditure, laying off tens of thousands of personnel, and cancelling or postponing projects.
Indeed upstream investment fell by 24% in 2015 and is set to fall by 18% in 2016. This would be the first
time upstream investment has fallen for two consecutive years since the 1980s.
The results of these cuts will be felt everywhere.
Snapchat is very ingrained in the millennial culture. Don't hold your breath on that one.
Dont' you get the game? Reverse split, issue stock, short stock, reverse split again......This rinse repeat scenario has been in place since their inception.
Linn energy and Virginia Penn file for BK. More BKs to come. Hmm, EIA is finally seeing the picture.
Gas, RIG's liquidity is good shape and no equity raise on the table.. It apears deep water drilling will not pick up until late 2017 into 2018. Shorts bet on an equity raise did not pan out.
Earnings are not good but this company is weathering the storm. The entire oil servicing group is suffering with low oil prices. We are in the trough, in time the trend will be up. Invest now and you will be rewarded.
Ackman is getting killed and he will continue to suffer as the share price will rise. Government fine of 200 million and the problem is gone...poof.
If what you say is true, why would inphi, and others go to court to defend themselves? Why waste their money and time with NLST?
Gasman, is in the business of pushing a short agenda. Accuracy and fair comparisons are not important to him.