BP - The Court Supervised Settlement Program (CSSP) established as part of the Deepwater Horizon (DWH) class action settlement is winding down. BP now expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results for the remaining Business Economic Loss (BEL) and other claims associated with the CSSP. The cash impact is expected to be spread over a multi-year period.
RBF - New York City Mayor Bill de Blasio and Comptroller Scott Stringer announced plans to divest the city’s five pension funds of approximately $5 billion in fossil fuel investments in an effort to safeguard the retirement plans of the city’s employees from the threat of underperforming assets. The total size of the retirement funds, $189 billion, makes New York City the largest American municipality to divest to date.
PLATTS - On Thursday, US Secretary of State Rex Tillerson told reporters that Trump would likely announce the decision in the afternoon in Washington. If that deal unravels, 800,000 b/d of Iranian crude exports would be at risk, according to analysts.
BHGE - U.S. Rig Count is up 15 rigs from last week to 939, with oil rigs up 10 to 752, gas rigs up 5 to 187, and miscellaneous rigs unchanged. Canada Rig Count is up 102 rigs from last week to 276, with oil rigs up 87 to 185 and gas rigs up 15 to 91.
МИНЭНЕРГО РОССИИ - На энергетическом рынке происходят существенные трансформации, появляются новые технологии, что в итоге приводит к изменению энергобаланса. В частности, за последние 10 лет добыча газа в мире выросла на 20% -- до 580 млрд м3, его доля в энергобалансе расширилась с 21 до 22%. При этом мировая торговля газом за тот же период увеличилась на 42%, или на 313 млрд м3.
BLOOMBERG - “Never before has the global LNG market had such significant flexible LNG volumes as the volumes coming online in the next three years, mostly from the U.S., which will lead to a fundamental shift in how LNG is marketed and traded globally,”
BLOOMBERG - Futures climbed as much as 0.9 percent in New York after rising 2.5 percent the previous two sessions. Inventories fell by 11.2 million barrels last week, the American Petroleum Institute was said to report on Tuesday. If the draw is replicated in Energy Information Administration data Wednesday, it will be the biggest decline for this time of the year since 1999.
REUTERS - If the vessel is carrying Russian LNG and ends up in the United States despite the U.S. sanctions against Novatek, it would be the first ever Russian LNG to go to the United States, according to U.S. energy data.
U.S.DT - "These sanctions target key entities involved in Iran's ballistic missile program, which the Iranian regime prioritizes over the economic well-being of the Iranian people. As the Iranian people suffer, their government and the IRGC fund foreign militants, terrorist groups, and human rights abuses," said Treasury Secretary Steven T. Mnuchin. "The United States will continue to decisively counter the Iranian regime's malign activity, including additional sanctions targeting human rights abuses. We will not hesitate to call out the regime's economic mismanagement, and diversion of significant resources to fund threatening missile systems at the expense of its citizenry."
U.S.DT - “President Maduro and his inner circle continue to put their own interests above those of the Venezuelan people,” said Treasury Secretary Steven T. Mnuchin. “This action underscores the United States’ resolve to hold Maduro and others engaged in corruption in Venezuela accountable. We call on concerned parties and international partners around the world to join us as we stand with the Venezuelan people to further isolate this oppressive regime.”