ENERGYNOW - The head of one of Canada’s largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it’s already leaving in “real time.”
EIA - US oil production averaged 9.964 million b/d in January, up nearly 1.14 million b/d compared with January 2017, but about 102,000 b/d below November's record domestic output,
BEA - Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017. In the third quarter, real GDP increased 3.2 percent.
WNN - Westinghouse Electric Company's reorganisation plan - including its sale to Brookfield - has been approved by the US Bankruptcy Court. Westinghouse said the court's approval of the plan is a "significant milestone in the company's strategic restructuring".
BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 993, with oil rigs down 7 to 797, gas rigs up 4 to 194 and miscellaneous rigs up 1 to 2. Canada Rig Count is down 27 rigs from last week to 134, with oil rigs down 22 to 71 and gas rigs down 5 to 63.
EIA - U.S. exports of liquefied natural gas (LNG) reached 1.94 billion cubic feet per day (Bcf/d) in 2017, up from 0.5 Bcf/d in 2016. As LNG exports increased, shipments went to more destinations. U.S. LNG exports in 2017, all of which originated from Louisiana’s Sabine Pass liquefaction terminal, reached 25 countries.
WNN - Both houses of the US Congress have approved an omnibus appropriations bill including USD1.2 billion for nuclear energy. The bill will see the suspension of sales by the Department of Energy (DOE) of surplus uranium to pay for decommissioning work at the former Portsmouth uranium enrichment plant.
BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 995, with oil rigs up 4 to 804, gas rigs up 1 to 190, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 58 rigs from last week to 161, with oil rigs down 51 to 93, gas rigs down 7 to 68, and miscellaneous rigs unchanged at 0.
OGJ - “It’s at a critical point; $150 billion of new infrastructure will be needed domestically. With all the growth in the Permian, there’s not capacity to ship gas to Louisiana,” Hochstein said. “If governments in both the US and Europe aren’t willing to put infrastructure in place, real progress won’t be made.”
BEA - The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.6 percent of current- dollar gross domestic product (GDP) in the fourth quarter, up from 2.1 percent in the third quarter.