February 2018

CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $3.1 billion ($1.64 per share – diluted) for fourth quarter 2017, compared with $415 million ($0.22 per share – diluted) in the 2016 fourth quarter. Included in the quarter were non-cash provisional tax benefits of $2.02 billion related to U.S. tax reform and a non-cash charge of $190 million related to a former mining asset. Foreign currency effects decreased earnings in the 2017 fourth quarter by $96 million.

BAKER HUGHES A GE - U.S. Rig Count is down 1 rig from last week to 946, with oil rigs up 6 to 765, gas rigs down 7 to 181, and miscellaneous rigs unchanged. Canada Rig Count is up 4 rigs from last week to 342, with oil rigs up 14 to 234 and gas rigs down 10 to 108.

PLATTS - NYMEX March natural gas futures ticked higher in buying at lows overnight in the US ahead of Friday's open. At 7:10 am ET (1210 GMT) the contract was 4.4 cents higher at $2.900/MMBtu, having shed 13.9 cents the previous day.

REUTERS - Brent futures, the global benchmark, were up 24 cents, or 0.3 percent, at $69.89 a barrel by 0635 GMT. U.S. West Texas Intermediate (WTI) crude was up 33 cents, or 0.5 percent, at $66.13 a barrel.

МИНЭНЕРГО РОССИИ - Министр энергетики Российской Федерации Александр Новак и Министр электроэнергетики Сирийской Арабской Республики Мухаммед Зухейр Харбутли подписали Дорожную карту сотрудничества в сфере энергетики в 2018 г. и на последующий период, которая включает сотрудничество в области электроэнергетики.

BLOOMBERG - Brent will reach $75 a barrel over the next three months and will climb to $82.50 within six months, analysts including Damien Courvalin wrote in an emailed report. Their previous estimate for both time periods was $62 a barrel.

МИНФИН РОССИИ - Средняя цена на нефть марки Urals в январе 2018 года сложилась в размере $ 68,46 за баррель, что в 1,29 раза выше, чем в январе 2017 года ($53,16 за баррель).

PLATTS - Asian demand for oil products will outweigh current and upcoming refinery capacity by 2025, Tushar Tarun Bansal, Director at McKinsey, told attendees at S&P Global Platts annual Middle Distillates Conference in Antwerp Thursday.

PLATTS - President Donald Trump said Tuesday that the "war" on American energy is over in a State of the Union speech given as US crude oil output is set to reach levels not seen in more than 47 years.

BLOOMBERG - The Beijing-based explorer sees capital expenditures at 70 billion to 80 billion yuan ($11.1 billion to $12.7 billion) for 2018, it said in a statement to the Hong Kong stock exchange Thursday. That’s an increase of as much as 60 percent from the previous year, which came in under target. It also raised its production estimate to between 470 million and 480 million barrels of oil equivalent, poised for the the first increase in three years.