GAZPROM - SHELL LNG
GAZPROM - Alexey Miller, Chairman of the Management Committee of Gazprom, and Ben van Beurden, Chief Executive Officer of Royal Dutch Shell, signed at the St. Petersburg International Economic Forum 2017 the Heads of Agreement to set up a joint venture.
The document describes the concept behind the joint venture, which will secure financing for and carry out the design, construction and operation of the LNG plant in the Leningrad Region. Based on that concept, Gazprom and Shell will take further steps in the implementation of the Baltic LNG project.
The parties also signed the Joint Study Framework Agreement on the Baltic LNG project. The signing of this document will allow the companies to start developing preliminary project documentation as soon as possible.
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NPD - Preliminary production figures for May 2018 show an average daily production of 1 629 000 barrels of oil, NGL and condensate, which is a decrease of 236 000 barrels per day compared to April.
PLATTS - Libyan crude production has fallen around 400,000 b/d -- or nearly halved -- due to militia attacks on the eastern oil terminals of Ras Lanuf and Es Sider, the head of the country?s National Oil Corp. said Tuesday.
PLATTS - Venezuela's crude output averaged 1.36 million b/d in May, down from 1.41 million b/d in April, and 1.9 million b/d in May 2017, according to S&P Global Platts. The International Energy Agency said it could fall to 800,000 b/d or even lower next year.
PLATTS - Nigerian oil has been slow to sell this month as bidders for the country's July-loading heavy and light sweet crudes have been absent from the market. Market participants pegged the amount of unsold Nigerian barrels loading in July at 20 million-34 million barrels, amounting to roughly 40%-75% of what is produced in a month.