NORWAY'S PRODUCTION DOWN 42 TBD
NPD - Preliminary production figures for January 2017 show an average daily production of about 2 024 000 barrels of oil, NGL and condensate.
This is 42 000 barrels per day (about 2 percent) less than December 2016.
Total gas sales were about 11.6 billion Sm3, which is 0.9 GSm3 more than previous month.
The average daily liquid production in January was: 1 613 000 barrels of oil, 378 000 barrels of NGL and 33 000 barrels of condensate. The oil production is about 4.3 percent below the oil production in December last year.
The oil production is about 0.3 percent below the NPD's prognosis for the month.
The total petroleum production in January is about 21.6 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 8.0 MSm3 o.e. of oil, about 2.0 MSm3 o.e. of NGL and condensate and about 11.6 MSm3 o.e. of gas for sale. The total volume is 0.4 MSm3 o.e. higher than in 2016.
Final production figures from December 2016 show an average daily production of about 1.682 million barrels of oil, 0.384 million barrels of NGL and condensate and a total of 10.7 billion Sm3 saleable gas production.
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U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014
OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.
ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.
PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.