2018

REUTERS - “The Ministry maintains that the Norwegian rules on reimbursement of exploration costs and interest on carry forward of losses ... do not constitute state aid under Article 61 of the EEA Agreement, and are therefore in compliance with the EEA (European Economic Area) law,” the ministry said in a letter.

NOVATEK - Total and Eni signed exploration and production agreements (Agreements) with the Government of Lebanon to explore and produce hydrocarbons on the offshore blocks 4 and 9 in the Eastern part of the Mediterranean Sea. NOVATEK’s participating interest in the Agreements is 20%, Total and Eni both hold 40% stakes, with Total appointed as the Operator.

BAKER HUGHES A GE - U.S. Rig Count is up 29 rigs from last week to 975, with oil rigs up 26 to 791, gas rigs up 3 to 184, and miscellaneous rigs unchanged. Canada Rig Count is down 17 rigs from last week to 325, with oil rigs down 13 to 221 and gas rigs down 4 to 104.

REUTERS - Brent futures were down 44 cents or 0.7 percent, at $64.37 a barrel by around 0700 GMT. On Thursday, Brent fell 1.1 percent to its lowest close since Dec. 20. U.S. West Texas Intermediate (WTI) crude was down 62 cents, or 1 percent, at $60.53 a barrel, having settled down 1 percent in the previous session at its lowest close since Jan. 2.

МИНЭКОНОМРАЗВИТИЯ - «Для исключения ситуации, при которой электроэнергетическая отрасль может стать фактором, замедляющим экономический рост, необходимо разработать программу глубокой модернизации генерирующих мощностей», – отметил замминистра. По его мнению, данная программа позволит обновить основные фонды объектов генерации, что положительно скажется на качестве и надежности энергоснабжения потребителей, а также повысит технологическую эффективность генерирующих объектов и обеспечит заказами предприятия отечественного энергомашиностроения.

EIA forecasts Brent spot prices will average about $62/b in both 2018 and 2019 compared with an average of $54/b in 2017. EIA expects West Texas Intermediate (WTI) crude oil prices to average $4/b lower than Brent prices in both 2018 and 2019.

TWA - The Gorgon and Wheatstone LNG projects are now enjoying cash margins of more than $US30 a barrel at a $US50 price, Chevron says, and production from the $111 billion mega-projects is expected to increase this year.

REUTERS - India’s push to more than double the share natural gas has in its energy mix to 15 percent by 2022 will require a huge increase in imports and the construction of more LNG terminals, a government official said on Wednesday.

WNN - Indonesia needs to double its electricity generation capacity over the next ten years, and continue that expansion beyond 2050, to improve access to electricity and meet the demand of its growing economy and population, the London-based organisation said. At the same time Indonesia needs to tackle high levels of air pollution and deliver on the commitment made at the COP 21 climate change conference to reduce greenhouse gas emissions by 29% by 2030.

IMF - The Indonesian economy has continued to perform well. Real GDP growth accelerated slightly to 5.1 percent in Q3:2017 from 5 percent in 2016 and H1:2017, led by robust exports and fixed investment.