March 2018
![March 2018](/cache/03-18/VENEZUELA-21.eae1e4a9.png)
2018, March, 14, 11:15:00
VENEZUELA'S OIL PRODUCTION DOWN
EIA - Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years. Crude oil production in Venezuela decreased from 2.3 million barrels per day (b/d) in January 2016 to 1.6 million b/d in January 2018. A combination of relatively low global crude oil prices and the mismanagement of Venezuela’s oil industry has led to these accelerated declines in production.
![March 2018](/cache/03-18/nuclear-40.003efbc1.png)
2018, March, 14, 11:10:00
NUCLEAR FUEL FOR EUROPE
WNN - A consortium led by Westinghouse Electric Company has completed an EU-funded project aimed at diversifying the supply of fuel to Russian-built VVER-440 reactors in Europe.
![March 2018](/cache/03-18/TILLERSON-1.29e09fb1.png)
2018, March, 14, 11:05:00
TILLERSON FIRED
OGJ - US President Donald Trump fired Rex W. Tillerson as secretary of State after barely more than 13 months on the job in a 5:45 a.m. tweet on Mar. 13 and said he intends to name Central Intelligence Agency Director Mike Pompeo as his successor.
![March 2018](/cache/03-18/usa-585.c8049a02.png)
2018, March, 14, 11:00:00
U.S. OIL + 131 TBD, GAS + 969 MCFD
EIA - Crude oil production from the major US onshore regions is forecast to increase 131,000 b/d month-over-month in April from 6,823 to 6,954 thousand barrels/day , gas production to increase 969 million cubic feet/day from 65,150 to 66,119 million cubic feet/day .
![March 2018](/cache/03-18/PRICE-454.4a2ebf8b.png)
2018, March, 12, 08:50:00
OIL PRICE: NOT ABOVE $66
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.10 a barrel at 0407 GMT, up 6 cents, or 0.1 percent.
Brent crude futures LCOc1 were at $65.58 per barrel, up 9 cents, or 0.1 percent, from their previous close.
![March 2018](/cache/03-18/usa-583.b5f0a29e.png)
2018, March, 12, 08:45:00
U.S. - CHINA TRADE WAR
REUTERS - China’s metals industry issued the country’s most explicit threat yet in the row, urging on Friday for the government to retaliate by targeting U.S. coal - a sector that is central to Trump’s political base and his election pledge to restore American industries and blue-collar jobs.
![March 2018](/cache/03-18/usa-582.f08ed462.png)
2018, March, 12, 08:40:00
U.S. OIL & GAS: 10.3 MLN JOBS
API - “The oil and natural gas industry is a major contributor to the American economy and helps meet America’s constantly increasing energy needs. We support more than 10.3 million U.S. jobs and contribute $1.3 trillion to the U.S. economy - benefits that are felt across the country,” said API Director of Upstream and Industry Operations Erik Milito.
![March 2018](/cache/03-18/AFRICA-41.0d86b5ab.png)
2018, March, 12, 08:35:00
CHINA'S INVESTMENT FOR AFRICA: $35 BLN
FT - The loans bring total Chinese energy finance in Africa since 2000 to $34.8bn. While this is well behind the $69bn lent in Europe and Central Asia, the $62bn in Latin America and the $60bn in Asia over the same period, the 2017 data illustrate Africa’s growing importance.
![March 2018](/cache/03-18/VENEZUELA-20.ff91720a.png)
2018, March, 12, 08:30:00
VENEZUELA'S RATINGS DOWN
MOODY'S - Moody's Investors Service has downgraded the Government of Venezuela's foreign currency and local currency issuer ratings, foreign and local currency senior unsecured ratings, and foreign currency senior secured rating to C from Caa3. Concurrently, the foreign currency senior unsecured medium term note program has also been downgraded to (P)C from (P)Caa3. The outlook has been changed to stable from negative.
![March 2018](/cache/03-18/PRICE-460.61763297.png)
2018, March, 11, 11:40:00
GAS PRICES: ABOUT $2.732
PLATTS - The NYMEX April natural gas futures contract settled at $2.732/MMBtu Friday, shedding 2.4 cents day on day and notching its second decline in a row.