Net profit increased significantly and financial status remained healthy  All-in cost of US$30.39/boe, down 6.6% YoY;  Net profit of RMB 52.69 billion, up 113.5% YoY;  Final dividend of HK$0.40 per share (tax inclusive)

Oil prices edged up on Wednesday, supported by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela,

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 февраля года по 14 марта 2019 года составила $ 65,06525 за баррель, или $ 475 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 апреля 2019 года повысится на $ 6,2 и составит $ 97,4 за тонну.

IEA - The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 85,000 b/d month-over-month in April from 8,507 to 8,592 thousand barrels/day , gas production to increase 883 million cubic feet/day from 78,137 to 79,020 million cubic feet/day .

IEA - Until recently, Venezuela’s oil production had stabilised at around 1.2 mb/d. During the past week, industry operations were seriously disrupted and ongoing losses on a significant scale could present a challenge to the market.

IEA - At the moment, Russia is sending record volumes to Europe while LNG utilisation rates remain relatively low. Limits to European production capacity and import infrastructure (with over half of pipelines operating at monthly peaks above 80%) may contribute to market tightness over the coming years, particularly if Asia continues to absorb the ramp up in global LNG liquefaction capacity.

The South Korean government Tuesday gave its final approval to lower taxes on LNG used for power production by 75%, and raise those on thermal coal by 28% from April 1, in a move likely to boost downstream gas consumption.

EIA - Renewable generation provided a new record of 742 million megawatthours (MWh) of electricity in 2018, nearly double the 382 million MWh produced in 2008. Renewables provided 17.6% of electricity generation in the United States in 2018.

South Africa must consider nuclear as a clean energy source that can be part of its electricity generation mix, Energy Minister Jeff Radebe said yesterday in his keynote speech at a business awards ceremony.

Brazilian state-led oil producer and refiner Petrobras expects to ramp up its divestments in the near term, with a series of deals expected to close by the end of April, according to Chief Executive Roberto Castello Branco.

Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.

Saudi Arabia’s energy minister said on Monday that he was confident that OPEC and its non-OPEC partners will reach full conformity with cuts, and even exceed it, in weeks to come.

In the context of supply and demand balance,the current price of BRENT oil is undervalued.Neither OPEC nor the IEA has considerably brought down their forecasts for global oil demand in the current year.

India’s demand for liquefied natural gas (LNG) is set to rise by about 10 percent this year even as the country adds import capacity at a faster clip, because infrastructure constraints keep gas from getting to consumers and hinder growth rates.