SHELL OPENS MALAYSIA
Royal Dutch Shell PLC has made another natural gas discovery on Block SK318 offshore Malaysia with the deepwater Marjoram-1 well, which was drilled in 800 m of water 180 km offshore.
Shell earlier this year announced the Rosmari-1 gas discovery, which was also drilled on Block SK218 (OGJ Online, Apr. 17, 2014). That well was drilled to 2,123 m total depth and encountered a 450-m gas column. Shell said at the time that the discovery was "a positive indicator of the gas potential in the area."
Shell operates Block SK318 with 85% interest. Petronas Carigali Sdn. Bhd. holds the remaining interest.
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IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.
EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .
U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.
U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.