NORWAY'S PRODUCTION DOWN 42 TBD
NPD - Preliminary production figures for January 2017 show an average daily production of about 2 024 000 barrels of oil, NGL and condensate.
This is 42 000 barrels per day (about 2 percent) less than December 2016.
Total gas sales were about 11.6 billion Sm3, which is 0.9 GSm3 more than previous month.
The average daily liquid production in January was: 1 613 000 barrels of oil, 378 000 barrels of NGL and 33 000 barrels of condensate. The oil production is about 4.3 percent below the oil production in December last year.
The oil production is about 0.3 percent below the NPD's prognosis for the month.
The total petroleum production in January is about 21.6 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 8.0 MSm3 o.e. of oil, about 2.0 MSm3 o.e. of NGL and condensate and about 11.6 MSm3 o.e. of gas for sale. The total volume is 0.4 MSm3 o.e. higher than in 2016.
Final production figures from December 2016 show an average daily production of about 1.682 million barrels of oil, 0.384 million barrels of NGL and condensate and a total of 10.7 billion Sm3 saleable gas production.
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WNN - "We met today to confirm the continuing commitment of the European Commission and the Atomic Energy Organisation of Iran towards the implementation of the Joint Comprehensive Plan of Action, and in particular its Annex III which addresses civil nuclear cooperation," Cañete and Ali Akhbar Salehi, president of the AEOI, said in a joint statement on 19 May. "We believe that the continuing implementation of the JCPOA, which was unanimously endorsed by UN Security Council Resolution 2231, is crucial for the development and progress of the region as well as the global peace and security."
BLOOMBERG - Natural gas will probably emerge as the main fossil fuel “winner” as it balances renewables in power generation and is used as a substitute for oil in petrochemicals. Long-term gas demand is set to increase by 15 percent, or by 750 billion cubic meters, compared to business as usual,
WNN - The United States, Canada, and Japan are launching the Nuclear Innovation: Clean Energy (NICE) Future Initiative. This global effort will make sure nuclear has a seat at the table during discussions about innovation and advanced clean energy systems of the future.
AOG - The agreement between ADNOC and ISPRL, which was initiated in January 2017 during a visit to India by a high-ranking UAE delegation, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, covers the storage of 5.86 million barrels of ADNOC crude oil in underground facilities, at the Karnataka facility. The first shipment, of approximately two million barrels of crude oil, will be followed by further shipments after India’s annual monsoon season.