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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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.