AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
PLATTS - China imported 146 million mt of coal and lignite in the first half of 2018, up 9.9% from the previous year and a three-year high, according to preliminary data released Friday by the General Administration of Customs. In June China imported 25.5 million mt of coal, up 17.9% on the year and 14% on the month from 22.3 million mt in May, the data showed.
REUTERS - Brent crude LCOc1 rose $1.23, or 1.7 percent, to $74.63 a barrel by 0544 GMT after slumping 6.9 percent on Wednesday. U.S. West Texas Intermediate (WTI) CLc1 added 46 cents, or 0.7 percent, to $70.84 a barrel, after falling 5 percent the previous session.
REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.
EIA - Brent crude oil spot prices averaged $74 per barrel (b) in June, a decrease of almost $3/b from the May average. EIA forecasts Brent spot prices will average $73/b in the second half of 2018 and will average $69/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average $6/b lower than Brent prices in the second half of 2018 and $7/b lower in 2019. NYMEX WTI futures and options contract values for October 2018 delivery that traded during the five-day period ending July 5, 2018, suggest a range of $56/b to $87/b encompasses the market expectation for October WTI prices at the 95% confidence level.
REUTERS - In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May, the data showed. The sources declined to be identified.
EIA - In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest importers of U.S. exports of crude oil, propane, and liquefied natural gas.
REUTERS - Benchmark Brent LCOc1 was up 70 cents at $77.81 a barrel by 1150 GMT. U.S. crude CLc1 was unchanged at $73.80.
REUTERS - Yet by 0649 GMT, U.S. West Texas Intermediate (WTI) crude futures were up 16 cents, or 0.2 percent, from their last settlement at $73.10 per barrel. Brent crude futures LCOc1 were down 7 cents, or 0.1 percent, at $77.32.
WNN - A new basic energy plan that sets goals for Japan's energy mix to 2030 and presents scenarios to 2050 was today approved by the Cabinet. Under the plan, nuclear will remain a key energy source, accounting for 20-22% of the country's electricity generation up to 2030.