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Closures all over place. Oilpro
Good Morning Oilpro Readers! 5:37am ET
This week, a tornado outbreak pounded the US southern plains. One of the twisters flattened a Halliburton district office in the Texas panhandle. Practically speaking, the downcycle had already beaten the storm to it. The facility was closed down in a cost cutting initiative earlier this year, so no employees or chemicals were on location. In its destruction, the storm simply finished what the downturn started.
Shuttered facilities like the abandoned Halliburton Pampa office now dot the O&G landscape, particularly in North America, where drilling activity is down 60% y/y and roughly half the frac fleet is sitting idle. Field office closure stories rarely reach beyond local newspapers, but they are happening en masse as the industry compresses.
Just this week, Cameron said it will shutter a large Houston yard in January. Schlumberger is implementing a facility cluster model that reduces its number of locations. NOV took a $57mm charge last quarter partly due to facility closures. Weatherford, Superior Energy Services, and C&J Energy Services, among others, have also recently discussed plans for yard elimination. Even offshore drillers are reducing onshore footprint: Transocean is consolidating its global onshore support functions in Houston.
Yard reduction can yield big savings. Halliburton spent $1bn on operating leases in 2014, operating 313 facilities across the globe (including 117 in the US). National Oilwell Varco owned or leased approximately 900 facilities worldwide last year. Industry roofline has ballooned over the past 5-10 years as capacity played catch up with $100 oil. For example, NOV has added 175 R&M facilities to their operations since 2009.
Eliminating facilities is an aggressive move that usually comes well into downcycles - lease terms may delay immediate action and closures create ramp-up friction in recoveries. With the industry settling in for a protracted slow period, roofline is now shrinking and the physical resizing will become even more noticeable next year.
This isn't Shamrock, Oklahoma just yet, but from Calgary to Bismarck to Midland, boarded up yards are becoming a more common sight around the North American oilpatch. -- Joseph Triepke, Oilpro Managing Director
Baltic Dry Index set record low of 504. now down 60% over the last year. S Alpha today
And this on heels of super lower crude to both carry & use as fuel.
Baltic Dry Index set record low of 504. now down 60% over the last year. S Alpha
Baltic Dry Index set record low of 504. now down 60% over the last year. S Alpha
And this on heels of super lower crude to both carry & use as fuel.
Canada hvy crude is $25 thanks to OPEC
For some reason it didn't click to me that was Canada's level.
http://www.bloomberg.com/news/articles/2015-11-18/opec-threatened-by-u-s-shale-hits-canada-harder-in-price-fight
OPEC Targets U.S. Shale, But Hits Canada Instead
“We are one of the highest-cost basins in the world,” said Rafi Tahmazian, a Calgary-based fund manager at Canoe Financial LP. He predicted more job losses as Canadian producers try to save money and stay profitable with low prices. “We’re constantly working to bring down those costs.”
U.S. crude has plummeted from a $107.26 closing high in New York on June 20 of last year to just above $40 a barrel. The Canadian heavy-oil benchmark is trading at about $15 less than that.
The countries where ISIS gets Tweet support
http://www.marketwatch.com/story/the-countries-where-isis-finds-support-in-two-charts-2015-11-18
Islamic State’s coordinated assault in Paris last week has brought even more attention to the terror group’s frighteningly rapid global growth, and where around the world it has found traction — not just in terms of territory gained, but in support.
A study out of the Brookings Institution used Twitter to shine some light on this, comparing the countries where tweets from ISIS supporters originate. The study dealt with a sample size of 20,000 and found that Saudi Arabia is the top location claimed by Twitter users supporting ISIS in 2015. Syria follows, Iraq rounds off the top three and the U.S. takes fourth place.
<charts & bit more>
CAT just said something chilling about China
http://tinyurl.com/oa7kbzv Business Insider
Caterpillar, one of the icons of American industrial might and a “bellwether” for the global economy, has been having a hard time. It forecast that sales would drop 5% in 2016, an IBM-like fourth year in a row of declining sales, the worst such spell in its history.
Now Caterpillar threw in the towel on its formerly most promising market, China. Not for the current year, or even next year – those are already toast. But for future years. And for the entire industry.
It isn’t just CAT’s problem; the industry as a whole is getting whacked in China because of China’s economy. That’s Tom Pellette, Group President of Caterpillar Inc., with administrative responsibility for Construction Industries, told the Financial Times in an interview.
He cited some terrible industry-wide numbers for China, without disclosing Caterpillar’s own: in 2015, sales of hydraulic excavators between 10-90 tons are expected to be in the “23,000 range,” he said. Back during the China heyday in 2010, the industry sold over five times as many: 120,000 excavators. This would include excavators from Japanese, German, and Chinese competitors. In March 2011, the industry sold 27,000 units – in just that month! – more than in the entire year 2015!
Those were the good times when China’s huge stimulus program from the Financial Crisis was reaching corporate pockets.
“That shows how far off the peak we are,” Pellette said. The market might never get back to where it once had been, despite the official GDP growth rate in the third quarter of 6.9%, which would be considered a blistering hot pace in other major economies that have somewhat less opaque economic reporting.
On September 24, Caterpillar had already warned of another round of big trouble. Its statement – evocatively titled in perfect corporate speak, “Building for a Stronger Future, Caterpillar Announces Restructuring and Cost Reduction Plans” – announced “a total possible workforce reduction of more than 10,000 people…” and “the contemplated consolidation and closures of manufacturing facilities occurring through 2018.”
“At this point, we are experiencing continued weakness in key industries that we serve,” it said, with sales declining “in all three of our large segments,” namely Construction Industries, Energy & Transportation, and Resource Industries.
Shrinkage, shrinkage, shrinkage. Because of the global economy. Because of collapsing investment in mining and energy. Because of “a convergence of challenging marketplace conditions in key regions and industry sectors.” Because of China.
<bit more>
NYSE ends stop loss & GTC Feb 2016
Think this follows Naz & some others with intent to deal with spoofing type behavior.
20:01 News Bot: NYSE stated that from February Investors will not be able to make "stop loss orders" and "good till cancelled orders" on the NYSE and NYSE Market
Saudi crude exports rise to 7.111m bpd in September
in Freight News 19/11/2015 5:15 pm ET
Saudi Arabia raised its oil exports in September by 113,000 barrels per day (bpd) to 7.111 million bpd from 6.998 million bpd in the previous month, official data showed on Wednesday.
The OPEC heavyweight pumped 10.226 million bpd in September, slightly lower than August’s 10.265 million but it still maintained high output in line with its strategy of defending market share.
Saudi Arabia burns higher crude volumes to generate power for air conditioning during the hot summer months. It has also been feeding more crude to domestic refineries as it expands oil product exports.
But despite increased refining in September, product exports fell.
Domestic refineries processed 2.501 million bpd of crude, higher than the August level of 2.214 million bpd. Exports of refined oil products in September dropped to 1.190 million bpd, from 1.347 million bpd in August.
In September, when the weather starts to cool in some parts of the kingdom, crude oil directly burnt to generate power dropped from the month before to 744,000 bpd, the JODI data showed.
Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organisations Data Initiative (JODI), which publishes them on its website.
Source: Reuters
glut turns crude low UWTI +.02
U.S. CRUDE TURNS NEGATIVE; TRADERS LOOK BEYOND SMALLER-THAN-EXPECTED WEEKLY STOCKPILE BUILD TO FOCUS ON MARKET'S LARGER GLUT
BOFI did F/S 4-1 today $20.40 now
Stock Split in General
BofI Holding Inc BOFI:NASDAQ
BofI Holding Inc has announced a 4-1 split effective 11/18/15.
Nymex Crude Stays Higher on Smaller-Than-Expected Storage Build 10:35 am ET (Dow Jones)
UWTI +0.06 6.99
Cushing > estimate UWTI 7.02
- US DoE Cushing OK Crude Inventory (Nov 13) W/W 1495K vs. Exp. 800K (Prev. 2237K).
- US DoE Gasoline Inventories (Nov 13) W/W 1009K vs. Exp. -500K (Prev. -2102K).
- US DoE Distillate Inventory (Nov 13) W/W -791K vs. Exp. -500K (Prev. 352K).
- US DoE Refinery Utilisation (Nov 13) W/W 0.80% vs. Exp. 0.50% (Prev. 0.80%).
(U.S. Department of Energy)
DRYS continues reduce dry cargo mkt
DryShips in supramax exit
Posted: 17 Nov 2015 08:33 AM PST
George Economou’s DryShips has continued to reduce its exposure to the dry cargo market with the sale of its two supramaxes. Brokers say the Nasdaq-listed owner has sold both the 51,200-dwt Byron (built 2003) and the 51,200-dwt Galveston (built 2002). A price of $6.3m is placed on the first of the pair, with the other vessel fetching $5.8m, brokers believe.
NETE 1-10/1-30 RS vote (Naz)
08:56 AM EST, 11/18/2015 (MT Newswires) -- Net Element (NETE) said shareholders have approved a reverse stock split at a ratio of between 1 for 10 and 1 for 30 that will be decided by the company's directors in order to achieve compliance with Nasdaq's minimum bid price requirement.
On Tuesday, the company also reported its Q3 adjusted net loss widened to of $2.9 million from $2.2 million a year ago while narrowing to $0.04 per share from $0.06 a year earlier amid a higher share count. One analyst polled by Capital IQ had expected a net loss of $0.06.
Revenue more than doubled to $12.7 million from $6 million and exceeded one estimate of $8.3 million.
NETE is trading near the bottom of the 52-week range between $0.07 and $2.14.
Price: 0.08
NETE 1-10/1-30 RS approved vote
08:56 AM EST, 11/18/2015 (MT Newswires) -- Net Element (NETE) said shareholders have approved a reverse stock split at a ratio of between 1 for 10 and 1 for 30 that will be decided by the company's directors in order to achieve compliance with Nasdaq's minimum bid price requirement.
On Tuesday, the company also reported its Q3 adjusted net loss widened to of $2.9 million from $2.2 million a year ago while narrowing to $0.04 per share from $0.06 a year earlier amid a higher share count. One analyst polled by Capital IQ had expected a net loss of $0.06.
Revenue more than doubled to $12.7 million from $6 million and exceeded one estimate of $8.3 million.
NETE is trading near the bottom of the 52-week range between $0.07 and $2.14.
Price: 0.08
China iron ore mkt died onite em
UWTI +0.13 Nordic currencies highs
DWTI -7.45 5.5% then improves -2.18 -1.61%
FED'S LOCKHART: EXPECTS INFLATION TO RISE GRADUALLY AS OIL, DOLLAR STABILIZE
8:39 am ET
FED'S LOCKHART: EXPECTS INFLATION TO RISE GRADUALLY AS OIL, DOLLAR STABILIZE
8:39 am ET
CNBC says Germany involved in attacks
So Russian chief says bomb did the plane. Now Germany arrests two over Paris, and most of attackers native French though seem from elsewhere parents.
Just a real net to figure out how strong all this is.
ISIS video says Washington DC next
"for one of its next operations"
7pm ET
Days after the ISIS terror attacks in Paris that killed at least 129 people, authorities continue to learn more about the devastating incident and the people who planned it. Here's what we know.
French President Francois Hollande gave a rare speech before a joint session of Parliament at Versailles to proclaim that "France is at war." The European nation is "in a war against terrorism, jihadism, which threatens the whole world," he said.
The suspected mastermind of the attack is Abdelhamid Abaaoud, a twentysomething with ties to gangs in Belgium who has been on the radars of counterterrorism officials for some time.
In a new ISIS video, the terror group says it is targeting Washington, D.C. for one of its next operations.
Defending the U.S. against terrorism is extremely expensive.
A wave of U.S. governors said today that they object to the prospect of Syrian refugees landing in their states. Republicans, in particular, want to keep refugees out.
Just thanking for his msg. em
Reptos thanks, back at cha, public only em
3 Late day bits
15:58 News Bot: US crude oil futures settle at USD 41.74/bbl, up USD 1.00 (+2.45%), Brent crude futures settle at USD 44.56/bbl, up USD 0.09 (+0.20%)
15:58 News Bot: Oil continues to grind higher after failing to break the USD 40/bbl handle to the downside and is strengthening commodity link currencies and bolstering the energy sector with all 3 major US indice at session highs
16:32 News Bot: RBA's Assistant Governor Kent states that potential is limited for commodity prices to increase somewhat
bulk ship stks up bit, rare. em
noticing bulk ship stks up bit fwiw em
piece on Credit Suisse company moves
ZURICH -- Credit Suisse Group AG is parting company with longtime executive and U.S. private banking head Philip Vasan , according to an internal memo, in the latest sign of the strategic shake-up at the Swiss bank.
Credit Suisse is shifting focus under recently appointed Chief Executive Tidjane Thiam, who took over in July, focusing its private-banking efforts in Asia among other changes.
The Zurich -based bank said last month that it would unload its U.S.-based private-banking business to Wells Fargo & Co. by next year.
Mr. Vasan will be leaving Credit Suisse in the spring after the expected transfer of the private-banking assets to Wells Fargo , according to the memo which has been seen by The Wall Street Journal . The banker has been with Credit Suisse for more than two decades, most recently in charge of the U.S. private banking. Before that, Mr. Vasan had a successfully run Credit Suisse's prime-brokerage unit providing services to hedge funds.
The U.S. is just one of a number of foreign markets where Credit Suisse has closed wealth management offerings in recent years, as it has sought to cut costs and focus on more profitable regions.
Under the new strategy unveiled by Mr. Thiam last month, the bank will redouble its wealth management efforts in Asia , where demand for banking services for the wealthy is soaring, while cutting back in the U.S.
"In the U.S., our domestic private banking business isn't currently positioned to compete in scale without significant investment or acquisition," Credit Suisse said last month, as part of an announcement regarding its strategy shift.
Other changes under way at the bank include cutting the amount of capital used by Credit Suisse's investment bank, and a new effort to bolster the bank's presence in the domestic Swiss market.
Mr. Thiam last month announced a series of changes to the bank's executive board, including the departure of Mr. Vasan's boss Rob Shafir as co-head of private banking and wealth management. Mr. Shafir continues to serve as chairman of the Americas for Credit Suisse , which offers investment-banking and asset-management services in the region.
Mr. Shafir's counterpart, former co-head of private banking Hans-Ulrich Meister , also stepped down from the bank's executive board.
As it seeks to revamp, Credit Suisse is raising a significant amount of new capital to bolster its efforts. On Thursday, the bank will hold a shareholder meeting in Switzerland , to stage votes on management's plans to raise roughly 6 billion Swiss francs ( $6 billion ) in fresh capital via a private placement to investors and a rights offering to existing shareholders.
-- Jenny Strasburg contributed to this article
Write to John Letzing at john.letzing@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-16-15 1013ET
Copyright (c) 2015 Dow Jones & Company, Inc.
NYT headline US hits Syria oil trucks
Missed this in am. DWTI soars to 140
The U.S. has struck oil trucks in Syria for the first time, with the goal of cutting off ISIS revenue
Monday, November 16, 2015 3:30 AM EST
Intensifying pressure on the Islamic State, United States warplanes for the first time attacked hundreds of trucks on Monday that the extremist group has been using to smuggle the crude oil it has been producing in Syria, American officials said.
Plans for the strike were developed well before the terrorist attacks in and around Paris on Friday, and the assault is part of a broader operation to disrupt the ability of the Islamic State, also known as ISIS or ISIL, to generate revenue to support its military operations and run its self-styled caliphate.
NYT headline US hits Syria oil trucks
Missed this in am. DWTI goes to 140.
UWTI new RS on way? 6.73
The U.S. has struck oil trucks in Syria for the first time, with the goal of cutting off ISIS revenue
Monday, November 16, 2015 3:30 AM EST
Intensifying pressure on the Islamic State, United States warplanes for the first time attacked hundreds of trucks on Monday that the extremist group has been using to smuggle the crude oil it has been producing in Syria, American officials said.
Plans for the strike were developed well before the terrorist attacks in and around Paris on Friday, and the assault is part of a broader operation to disrupt the ability of the Islamic State, also known as ISIS or ISIL, to generate revenue to support its military operations and run its self-styled caliphate.
Early on Asia lower, Japan GDP lower
http://blogs.wsj.com/briefly/2015/11/15/5-takeaways-from-japans-gdp-numbers/?mod=e2tw
5 Takeaways From Japan’s GDP Numbers
Japan’s gross domestic product shrank an annualized 0.8% in the July-September quarter, slightly worse than a 0.3% contraction forecast by economists surveyed by The Wall Street Journal. Here are five takeaways from the numbers.
5 takeaways from Japan GDP numbers
http://blogs.wsj.com/briefly/2015/11/15/5-takeaways-from-japans-gdp-numbers/?mod=e2tw
Asian markets early outlook
Asian markets slid Monday after terror attacks in Paris made investors cautious and data showed Japan entered a recession for the second time in two years.
The Nikkei Stock Average fell 0.8%, South Korea's Kospi shed 1% and Australia's S&P /ASX 200 slipped 0.7%.
The Hang Seng Index fell 1.8% and the Shanghai Composite Index lost 1.4%.
The Japanese yen, which investors tend to seek as a haven asset, reached its strongest level in roughly a week, last up 0.1% at Yen122.47 per U.S. dollar compared with late Friday in Asia .
The euro fell to as low as $1.0685 compared with $1.0745 earlier Monday. It last traded at $1.0722 .
The Australian dollar was last down 0.4% at $0.71 compared with its late day trading level Friday.
Michael Gable , a portfolio manager at Fairmont equities in Sydney said he expects the U.S. dollar to strengthen and the Australian dollar to weaken in the short-term, as investors scramble for safety.
On Sunday evening, France launched extensive airstrikes against Islamic State's stronghold in Syria . That followed terrorist attacks in Paris that killed 129 people in multiple locations around Paris on Friday.
Despite immediate market jitters, analysts are wary that the attacks will spark any prolonged selling.
"I can't find any appropriate word other than 'uncertain' for potential economic impact" of the attacks, said Tomohiro Okawa , an equity strategist at UBS Securities Japan, adding that any selling likely would be "transient."
Earlier Monday, data showed Japan's economy entered a recession in the third quarter, shrinking 0.8% on an annualized basis. That marks the second consecutive period of contraction, a common definition of a recession, after a 0.7% fall in the second quarter.
"Considering how hard [Prime Minister Shinzo] Abe's worked to try to get the economy up again, he still hasn't been able to do it," said Evan Lucas , market analyst at brokerage IG, referring to Mr. Abe's efforts to boost the economy since he took office in 2012.
Asian shares also extended losses from last week, as investors brace for the Federal Reserve to raise rates as soon as December. The majority of economists polled by The Wall Street Journal expect a lift in rates next month, which would mark the first such increase since 2006.
On Friday, U.S. stocks slid, snapping a six-week winning streak as retail shares tumbled on weak earnings and economic data.
In Asia , "there's a big drag from the fact that U.S. equity markets are seeing really big downward movements and increased volatility last week, " said Mr. Lucas.
In China , data over the weekend showed inflows into Chinese capital markets in October, a sign that Beijing's efforts to keep money from flowing out of the country after August's surprise currency devaluation could be bearing fruit. The inflows in October snap four straight months of outflows.
The People's Bank of China and financial institutions bought a net 12.94 billion yuan ( $2.03 billion ) worth of foreign currencies during October, according to a calculation by The Wall Street Journal .
Meanwhile, Beijing's anticorruption campaign pushed further into the financial sector, with officials announcing that Yao Gang , one of four vice chairman at China's stock regulator, was suspected of serious violations of discipline, language the antigraft body typically uses for suspected corruption.
Mr. Gao heads the regulatory group's powerful listing department, which recently said it would soon allow Chinese companies to go public again. Authorities had halted IPOs in July as part of measures to try to stop China's stock market from falling.
Brent crude oil was up 0.9% at $44.87 .
Gold prices rose 1.1% at $1,092.40 , part of a broad flight to safer assets.
Kosaku Narioka and Vera Sprothen contributed to this article.
Write to Chao Deng at Chao.Deng@wsj.com
(END) Dow Jones Newswires
11-15-15 2055ET
Copyright (c) 2015 Dow Jones & Company, Inc.
So Korea Oct and Obama exec reach G-mo Bay
SO KOREA OCT EXPORT GROWTH REVISED* DECREASE TO -15.9% VS PREV -15.8%. Import growth/trade balance remain unchanged. DJ
--------------
Obama Readies Biggest Reach of Presidential Power Yet http://finance.yahoo.com/news/obama-readies-biggest-reach-presidential-175000647.html?soc_src=mediacontentstory&soc_trk=tw … via @YahooFinance
France few choices in war NYT
free access at NYT to Paris stories. Forgot France has largest Muslim population in Europe. Guess North Africa colony days boosted that.
No wonder Germany has been so indifferent. Pre WWI German & Turkey did ally in Mideast but later mostly ignored any colony activity.
Paris Gunmen Single Out François Hollande, and Leave Him With Few Palatable Responses
http://tinyurl.com/ogsfb8j
Even before the terrorist attacks, the push across much of Europe, with the major exception of Germany, to stop the ballooning influx of migrants was weakening the commitment to a borderless bloc. But with terrorism on top of that, it seems just a matter of time before restrictions are institutionalized throughout the Continent.
“It’s probably going to lead to more barriers in Europe, because instituting border controls is becoming the default option,” said François Heisbourg, the president of the International Institute for Strategic Studies in London.
“It’s part of the rightward shift of the political center of gravity, of the political conversation, and this was happening with the refugee crisis, and the terror attacks will at best be neutral and at worst accelerate it.”
‘First of the Storm’ Paris Attacks
highlights short NYT piece
http://tinyurl.com/qzhopud
ISIS Claims Responsibility, Calling Paris Attacks ‘First of the Storm’
SINONE, Iraq — The Islamic State claimed responsibility on Saturday for the catastrophic attacks in the French capital, calling them “the first of the storm” and mocking France as a “capital of prostitution and obscenity,” according to statements released in multiple languages on one of the terror group’s encrypted messaging accounts.
“Eight brothers, wrapped in explosive belts and armed with machine rifles, targeted sites that were accurately chosen in the heart of the capital of France,” the group said in the statement, “including the Stade de France during the match between the Crusader German and French teams, where the fool of France, François Hollande, was present.”
Celebrations by Islamic State supporters online were such that the SITE monitoring group said they could suggest the Islamic State’s involvement.
“The extent of the celebration far exceeded past online rallying by I.S. supporters,” SITE said in an analysis. “The way I.S. supporters have embraced this attack appears much more coordinated at a much earlier stage than massive reactions to past attacks.”
‘First of the Storm’ Paris Attacks
highlights short NYT piece
http://tinyurl.com/qzhopud
ISIS Claims Responsibility, Calling Paris Attacks ‘First of the Storm’
SINONE, Iraq — The Islamic State claimed responsibility on Saturday for the catastrophic attacks in the French capital, calling them “the first of the storm” and mocking France as a “capital of prostitution and obscenity,” according to statements released in multiple languages on one of the terror group’s encrypted messaging accounts.
“Eight brothers, wrapped in explosive belts and armed with machine rifles, targeted sites that were accurately chosen in the heart of the capital of France,” the group said in the statement, “including the Stade de France during the match between the Crusader German and French teams, where the fool of France, François Hollande, was present.”
Celebrations by Islamic State supporters online were such that the SITE monitoring group said they could suggest the Islamic State’s involvement.
“The extent of the celebration far exceeded past online rallying by I.S. supporters,” SITE said in an analysis. “The way I.S. supporters have embraced this attack appears much more coordinated at a much earlier stage than massive reactions to past attacks.”
Chart here does suggest inverse H&S
Quick look. But Paris may alter things one way or other. If oil runs up hard then something's in the wind. If craters then 38 becomes 30 25 as forces that be go into hiding.
Yeah Line in the Sand remark. Incoming USA?
Maybe back when US did pull out after Marine barracks bombing there might have been a case for cut & run. Even WTC 9/11 was sold as an attack on Big Business.
Now thought it's a direct attack on Western Civ. Don't need to be a Harvard grad to know what that means.
In Greece, a senior government official said the holder of that passport crossed into the European Union through the Greek island of Leros on Oct. 3.
Seven Militants Carried Out French Attacks, Paris Prosecutor Says -- 5th Update
By Matthew Dalton , William Horobin,Thomas Varela and Inti Landauro
PARIS--Seven people, including one man who was previously flagged as a security risk by French authorities because of his radical beliefs, killed 129 people over half an hour on Friday evening in multiple attacks around the French capital, Paris prosecutor François Molins said Saturday.
Belgian authorities arrested three people Saturday because they were suspected of helping provide a car used in one of the attacks, said Mr. Molins, who is leading the investigation.
In addition, the first results of the multinational investigation contained a troubling finding: a Syrian passport near the body of one of the attackers was registered by refugee authorities on a Greek island in the Aegean Sea near Turkey . That raises the possibility the man slipped into Europe in the mass of refugees who are fleeing the Syrian conflict.
The Paris attacks, which killed at least 129 people and injured at least 352, began at the Stade de France during a match between the national soccer teams of France and Germany , Mr. Molins said. Two attackers set off suicide vests at the stadium, killing themselves and one other person.
Around 9:30 p.m. , gunmen in a black SEAT car drove around eastern Paris , firing at the customers at several restaurants. The car arrived at Le Bataclan at 9:40 p.m. , where three gunmen entered the theater and killed dozens of people.
All the gunmen wore suicide vests containing the explosive TATP, a chemical used in other terrorist attacks such as the London bombings of 2005, Mr. Molins said. All the attackers either killed themselves by detonating their vests or were shot by police, he said.
Earlier Saturday, French President François Hollande vowed a "merciless" response to Islamic State, claiming the extremist group was responsible for the coordinated attacks and left the French capital in a state of shock.
"It is an act of war that was waged by a terrorist army, a jihadist army, by Daesh, against France ," Mr. Hollande said, using an Arabic name for Islamic State. "This act of war was prepared and planned from the outside, with accomplices inside," he added, saying France would respond to the attacks.
Islamic State claimed responsibility for the attacks on a social media account but didn't provide specific information that would allow the claim to be verified. It said the attacks were retaliation for French airstrikes against the group in Syria and Iraq .
" France , because it was freely, cowardly attacked, will be merciless against the terrorists," Mr. Hollande said in an address to the nation broadcast on television. " France will triumph over barbarism."
Mr. Hollande didn't cite intelligence or give an explanation for attributing the attacks to Islamic State.
Separately, Belgian police carried out multiple raids and arrests Saturday in connection with the Paris attacks, Belgian and European officials said.
A rental car with Belgian license plates was found near Le Bataclan led police to conduct multiple raids in the St. Jans Molenbeek neighborhood of Brussels .
At a news conference Saturday night, Eric Van Der Sypt, a Belgian federal prosecutor, didn't reveal the nationalities of the people they have arrested. Prosecutors also didn't say if the people who had been arrested had criminal records or were known to intelligence authorities.
Authorities said early Saturday they believed all the attackers were dead.
The authorities found the Syrian passport near the body of one of the attackers, Mr. Molins said, though the name in the passport wasn't known to French security services.
In Greece , a senior government official said the holder of that passport crossed into the European Union through the Greek island of Leros on Oct. 3 .
"We do not know if the passport was checked by other countries which its holder probably passed through," said Nikos Toskas , Greece's deputy citizen's protection minister, who is in charge of the police.
The French government declared a state of emergency, reinstituting border checks and closing schools. In addition,
Mr. Hollande declared three days of mourning and said he would address the two houses of parliament in Versailles on Monday.
Famed Parisian museums such as the Louvre and departments stores such as Le Printemps and Les Galeries Lafayettes closed Saturday. Many other shops were also shut, leaving the city's normally busy streets less bustling than usual.
The attacks were shaping up to be the bloodiest consequence yet of France's entanglement in Syria's civil war. Hundreds of French have traveled to Syria since 2011 to fight with groups there, and more than 400 remain there.
The complexity of the French assaults--coordinated by multiple attackers at six locations--plus their apparent use of suicide belts suggests that they had support from an extensive terrorist network, terrorism experts said.
"They must have had several kilograms of explosives, they had suicide vests and they did blow themselves up," said Thomas Hegghammer, director of terrorism research at the Norwegian Defence Research Establishment. "All of that is very rare on European soil."
The most deadly attack was a shootout at Le Bataclan, a concert hall, where hostages were taken before gunman blew themselves up using explosive belts when police moved in, authorities said.
There were other shootings in the city's 10th and 11th arrondissements and at least two explosions outside the Stade de France soccer stadium.
The assaults are the second time this year Paris has come under attack by marauding gunmen. In January, the capital was hit by attackers claiming allegiance to Islamic State and an al Qaeda affiliate who killed 17 people, including many at the offices of the satirical magazine Charlie Hebdo .
World leaders condemned the attacks and offered to support the French authorities in bringing those responsible to justice.
President Barack Obama on Friday branded the attacks as a terrorist act and vowed U.S. assistance in a nationally televised address.
On Saturday, State Department spokesman Mark Toner said Americans were among those injured in the attacks. He declined to provide further information about how many people were involved or who they were but said the U.S. would release further information.
"The United States Embassy in Paris is working round the clock to assist American citizens affected by this tragedy," he said. "The U.S. government is working closely with French authorities to identify American victims. We are aware there are Americans among the injured, and are offering them the full range of consular assistance."
Top European officials also condemned the attacks and expressed deep shock but also their solidarity with France and the French people.
"This attack is an outrage against France , and against Europe as a whole, " Donald Tusk, the president of the European Council , wrote in a letter to Mr. Hollande.
Egypt's President Abdel Fattah Al Sisi offered Mr. Hollande condolences and expressed Egypt's solidarity with France , Mr. Sisi's office said in a statement.
"President Hollande lauded the role Egypt plays in combating terrorism and noted that France intends on strengthening cooperation with Egypt in this area in the near future," Mr. Sisi's office said in a statement.
Egypt has purchased multiple French weapons systems, including jet fighters and helicopter carriers, which Mr. Sisi says his military intends to use to counter a violent insurgency in the Sinai Peninsula . The restive area is home to Sinai Province , an Islamic State affiliate that claimed the Oct. 31 downing of a Russian passenger jet that killed 224 people shortly after takeoff from the Red Sea resort city of Sharm El Sheikh.
Sam Dagher , Viktoria Dendrinou, Noemie Bisserbe, Jason Chow , Tamer El-Ghobashy and Felicia Schwartz contributed to this article.
Write to Matthew Dalton at Matthew.Dalton@wsj.com, Thomas Varela at thomas.varela@wsj.com and Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-14-15 1726ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Could be. One among Syrian refugees
Probably on the way.
In Greece , a senior government official said the holder of that passport crossed into the European Union through the Greek island of Leros on Oct. 3.
Seven Militants Carried Out French Attacks, Paris Prosecutor Says -- 5th Update
By Matthew Dalton , William Horobin,Thomas Varela and Inti Landauro
PARIS--Seven people, including one man who was previously flagged as a security risk by French authorities because of his radical beliefs, killed 129 people over half an hour on Friday evening in multiple attacks around the French capital, Paris prosecutor François Molins said Saturday.
Belgian authorities arrested three people Saturday because they were suspected of helping provide a car used in one of the attacks, said Mr. Molins, who is leading the investigation.
In addition, the first results of the multinational investigation contained a troubling finding: a Syrian passport near the body of one of the attackers was registered by refugee authorities on a Greek island in the Aegean Sea near Turkey . That raises the possibility the man slipped into Europe in the mass of refugees who are fleeing the Syrian conflict.
The Paris attacks, which killed at least 129 people and injured at least 352, began at the Stade de France during a match between the national soccer teams of France and Germany , Mr. Molins said. Two attackers set off suicide vests at the stadium, killing themselves and one other person.
Around 9:30 p.m. , gunmen in a black SEAT car drove around eastern Paris , firing at the customers at several restaurants. The car arrived at Le Bataclan at 9:40 p.m. , where three gunmen entered the theater and killed dozens of people.
All the gunmen wore suicide vests containing the explosive TATP, a chemical used in other terrorist attacks such as the London bombings of 2005, Mr. Molins said. All the attackers either killed themselves by detonating their vests or were shot by police, he said.
Earlier Saturday, French President François Hollande vowed a "merciless" response to Islamic State, claiming the extremist group was responsible for the coordinated attacks and left the French capital in a state of shock.
"It is an act of war that was waged by a terrorist army, a jihadist army, by Daesh, against France ," Mr. Hollande said, using an Arabic name for Islamic State. "This act of war was prepared and planned from the outside, with accomplices inside," he added, saying France would respond to the attacks.
Islamic State claimed responsibility for the attacks on a social media account but didn't provide specific information that would allow the claim to be verified. It said the attacks were retaliation for French airstrikes against the group in Syria and Iraq .
" France , because it was freely, cowardly attacked, will be merciless against the terrorists," Mr. Hollande said in an address to the nation broadcast on television. " France will triumph over barbarism."
Mr. Hollande didn't cite intelligence or give an explanation for attributing the attacks to Islamic State.
Separately, Belgian police carried out multiple raids and arrests Saturday in connection with the Paris attacks, Belgian and European officials said.
A rental car with Belgian license plates was found near Le Bataclan led police to conduct multiple raids in the St. Jans Molenbeek neighborhood of Brussels .
At a news conference Saturday night, Eric Van Der Sypt, a Belgian federal prosecutor, didn't reveal the nationalities of the people they have arrested. Prosecutors also didn't say if the people who had been arrested had criminal records or were known to intelligence authorities.
Authorities said early Saturday they believed all the attackers were dead.
The authorities found the Syrian passport near the body of one of the attackers, Mr. Molins said, though the name in the passport wasn't known to French security services.
In Greece , a senior government official said the holder of that passport crossed into the European Union through the Greek island of Leros on Oct. 3 .
"We do not know if the passport was checked by other countries which its holder probably passed through," said Nikos Toskas , Greece's deputy citizen's protection minister, who is in charge of the police.
The French government declared a state of emergency, reinstituting border checks and closing schools. In addition,
Mr. Hollande declared three days of mourning and said he would address the two houses of parliament in Versailles on Monday.
Famed Parisian museums such as the Louvre and departments stores such as Le Printemps and Les Galeries Lafayettes closed Saturday. Many other shops were also shut, leaving the city's normally busy streets less bustling than usual.
The attacks were shaping up to be the bloodiest consequence yet of France's entanglement in Syria's civil war. Hundreds of French have traveled to Syria since 2011 to fight with groups there, and more than 400 remain there.
The complexity of the French assaults--coordinated by multiple attackers at six locations--plus their apparent use of suicide belts suggests that they had support from an extensive terrorist network, terrorism experts said.
"They must have had several kilograms of explosives, they had suicide vests and they did blow themselves up," said Thomas Hegghammer, director of terrorism research at the Norwegian Defence Research Establishment. "All of that is very rare on European soil."
The most deadly attack was a shootout at Le Bataclan, a concert hall, where hostages were taken before gunman blew themselves up using explosive belts when police moved in, authorities said.
There were other shootings in the city's 10th and 11th arrondissements and at least two explosions outside the Stade de France soccer stadium.
The assaults are the second time this year Paris has come under attack by marauding gunmen. In January, the capital was hit by attackers claiming allegiance to Islamic State and an al Qaeda affiliate who killed 17 people, including many at the offices of the satirical magazine Charlie Hebdo .
World leaders condemned the attacks and offered to support the French authorities in bringing those responsible to justice.
President Barack Obama on Friday branded the attacks as a terrorist act and vowed U.S. assistance in a nationally televised address.
On Saturday, State Department spokesman Mark Toner said Americans were among those injured in the attacks. He declined to provide further information about how many people were involved or who they were but said the U.S. would release further information.
"The United States Embassy in Paris is working round the clock to assist American citizens affected by this tragedy," he said. "The U.S. government is working closely with French authorities to identify American victims. We are aware there are Americans among the injured, and are offering them the full range of consular assistance."
Top European officials also condemned the attacks and expressed deep shock but also their solidarity with France and the French people.
"This attack is an outrage against France , and against Europe as a whole, " Donald Tusk, the president of the European Council , wrote in a letter to Mr. Hollande.
Egypt's President Abdel Fattah Al Sisi offered Mr. Hollande condolences and expressed Egypt's solidarity with France , Mr. Sisi's office said in a statement.
"President Hollande lauded the role Egypt plays in combating terrorism and noted that France intends on strengthening cooperation with Egypt in this area in the near future," Mr. Sisi's office said in a statement.
Egypt has purchased multiple French weapons systems, including jet fighters and helicopter carriers, which Mr. Sisi says his military intends to use to counter a violent insurgency in the Sinai Peninsula . The restive area is home to Sinai Province , an Islamic State affiliate that claimed the Oct. 31 downing of a Russian passenger jet that killed 224 people shortly after takeoff from the Red Sea resort city of Sharm El Sheikh.
Sam Dagher , Viktoria Dendrinou, Noemie Bisserbe, Jason Chow , Tamer El-Ghobashy and Felicia Schwartz contributed to this article.
Write to Matthew Dalton at Matthew.Dalton@wsj.com, Thomas Varela at thomas.varela@wsj.com and Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-14-15 1726ET
Copyright (c) 2015 Dow Jones & Company, Inc.