REUTERS - Gas output in China rose to a record 147.4 billion cubic meters (bcm) last year, up 8.5 percent from 2016, data from the National Bureau of Statistics showed. Gas production is forecast to climb by between 6 percent to 8 percent per year through 2020, according to researchers at China National Petroleum Corp.

EXXONMOBIL - Despite efficiency gains, global energy demand will likely increase nearly 25 percent. Nearly all growth will be in non-OECD countries (e.g. China, India), where demand will likely increase about 40 percent, or about the same amount of energy used in the Americas today.

FT - Mexico secured almost $100bn in investment in its most successful oil tender to date as Anglo-Dutch oil major Royal Dutch Shell positioned itself as the biggest player in deepwater exploration and new companies including Qatar Petroleum burst on to the scene.

SHANA - Iranian Minister of Petroleum Bijan Zangeneh says the country's petroleum output has increased by 165,000 b/d in the first 10 months of the current Iranian calendar year which began on March 21 compared to the same period last year.

BP - BP and Shandong Dongming Petrochemical Group (Dongming Petrochemical) announced the signing of joint venture agreements to develop a leading branded retail fuels and convenience business covering the Chinese provinces of Shandong, Henan and Hebei. Subject to regulatory approvals, the partnership with Dongming Petrochemical will start operations in 2018 and the network is expected to grow to 500 sites in 10 years. BP has a 49% equity share of the joint venture and Dongming Petrochemical the remaining 51%.

IAEA - An International Atomic Energy Agency (IAEA) team of experts said France demonstrated a comprehensive commitment to safety with a responsible approach to the management of radioactive waste and spent nuclear fuel. The team also made suggestions aimed at further enhancements and noted several good practices.

DOE recently released a report that dives into the emerging technology of advanced small modular reactors (SMRs) and their ability to flexibly provide carbon-free power in response to outages caused by severe weather and physical threats to the grid.

EXXONMOBIL - ExxonMobil Earns $19.7 Billion in 2017; $8.4 Billion in Fourth Quarter

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.

ANTON SILUANOV RUSSIA FINANCE MINISTER-02-02-2018

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.

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.

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.