ROSNEFT - Essar Oil Limited (EOL) owned by the Consortium of International Investors led by Rosneft, since March 2017 to date has expanded the retail network Essar-branded fuel stations by 20% reaching 4,200.
OPEC - The OPEC Reference Basket increased for the fifth-straight month in January, gaining a sharp 7.7% to average $66.85/b, the highest monthly average since November 2014. Oil prices were supported by continuing efforts by OPEC and participating non-OPEC producers to balance the market and ten consecutive weeks of crude inventory draws amid healthy economic growth and improving oil demand.
МИНЭНЕРГО РОССИИ - В ходе встречи стороны обсудили сотрудничество в инвестиционной сфере. Министр энергетики отметил подписание в январе 2018 года соглашения между «Сауди Арамко», концерном «Тоталь», российской газоперерабатывающей и нефтехимической компанией «СИБУР» и РФПИ о совместных инвестициях в строительство нефтехимического комплекса на территории Саудовской Аравии. Проект предполагает инвестиции на сумму более $1 млрд.
EIA - EIA expects a 40% increase in natural gas consumed in the U.S. industrial sector, from 9.8 quadrillion British thermal units (Btu) in 2017 to 13.7 quadrillion Btu in 2050.
AOG - A $3.1bn project to introduce crude processing flexibility at the ADNOC-owned Ruwais oil refinery was announced.
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.
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%.
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.
REUTERS - India’s biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government’s majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion).