March 2017

The state-owned company, known as Sinopec Corp, saw fourth quarter net profit jump to 17.25 billion yuan from 9.9 billion yuan in the third quarter, it said in a statement to the Shanghai Stock Exchange.

The World Bank’s current portfolio in Vietnam consists of 49 operations, worth a total of 9.5 billion USD supporting infrastructure, agriculture, human development and improvement in economic and financial sector management. Support to infrastructure includes transport, energy, water and sanitation, and irrigation.

U.S. Rig Count is up 345 rigs from last year's count of 464, with oil rigs up 280, gas rigs up 63, and miscellaneous rigs up 2. Canadian Rig Count is up 130 rigs from last year's count of 55, with oil rigs up 59 and gas rigs up 70, and miscellaneous rigs up 1.

Benchmark Brent crude futures LCOc1 were at $50.72 per barrel at 1255 GMT, up 16 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 20 cents at $47.90 a barrel. Brent was heading for a weekly fall of around 2 percent, while WTI was off just over 1.8 percent.

Total petroleum deliveries moved up by 1.2 percent from the prior year to nearly 19.3 million barrels per day in January 2017. These were the highest January deliveries in nine years, since 2008.

Total petroleum deliveries moved up by 1.2 percent from the prior year to nearly 19.3 million barrels per day in January 2017. These were the highest January deliveries in nine years, since 2008.

Saudi Arabia faces a difficult balancing act as it tries to work down excess global crude stocks while protecting relationships with important refining customers in the United States and Asia.

The scaled-up IDA financing will build on a portfolio of 448 ongoing projects in Africa totaling about $50 billion. Of this, a $1.6 billion financing package is being developed to tackle the impending threat of famine in parts of Sub-Saharan Africa and other regions.

U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate.

Benchmark Brent crude was down 82 cents at $50.14 per barrel at 0936 GMT (5:36 a.m. ET), after dropping to $50.05, its lowest level since OPEC announced on Nov. 30 its plan for cuts. The deal with non-OPEC states was reached in December. U.S. light crude was down 70 cents at $47.54 a barrel, also slipping toward a three-month low.