U.S. NEEDS ENERGY
API President and CEO Jack Gerard said American voters of all political stripes agreed that the country needs strong energy leadership to create jobs, lower fuel costs for consumers, enhance our energy security, and lower emissions. In a press call with reporters, Gerard revealed the results of an API actual voter poll conducted on election night.
"Eighty percent of voters support increased development of U.S. oil and natural gas resources including 71 percent of Democrats, 94 percent of Republicans and 76 percent of Independents," said Gerard.
"Voters want a Congress and administration that works for their interests. And just as there is bipartisan voter support for energy priorities, there is an opportunity for Republicans and Democrats in Congress to work toward pro-development policies that provide economic growth, job creation and energy security.
"With the oil and natural gas industry facing 145 regulations or other policy-setting activities that could discourage production, preventing regulatory overreach should be a top priority. A combination of industry innovation, market forces and existing standards have proven effective for keeping hydraulic fracturing safe and reducing emissions of ozone, methane and carbon. In fact, the United States leads the world in reduction of carbon emissions, with clean-burning natural gas driving emissions in the power sector to 25-year lows.
"Seventy-seven percent of voters say they support a national energy policy that ensures a secure supply of abundant, affordable and available energy for the American people in an environmentally responsible manner. That description serves both as a good summary of what the American energy revolution is accomplishing and as a guiding principle for the next administration's energy policy.
"We look forward to working with the new Congress and the Trump administration to implement voters' energy priorities and maintain America's global energy leadership."
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.