RUSSIA SANCTIONS: WON'T HURT
Russia will meet a plan to boost oil flows to China despite Western sanctions over Russia's role in the Ukraine crisis aimed at barring its oil firms from foreign technologies and funds, Russian deputy energy minister said.
"We have recourses that we need, we are able to increase production (in Eastern Siberia), we have finances for that," Kirill Molodsov told an energy conference at Russia's Far East island of Sakhalin.
"Russia does not see any risks or dangers that these projects (to increase oil flows to China) would not be put on stream as decided," he said.
Russia and China last year signed deals to triple oil supplies to China to up to 1.0 million barrels per day (bpd) after 2018.
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WNN - Asia needs nuclear energy to meet its economic, energy and environmental goals, but such plans are still in the development phase in the South East region of the continent, Agneta Rising, director general of World Nuclear Association, said.
NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.
AOG - China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with Abu Dhabi National Oil Company (ADNOC).
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close. Brent crude futures LCOc1 were at $67.56 per barrel, up 14 cents, or 0.2 percent.