April 2019

In the first quarter 2019, NOVATEK’s hydrocarbon production totaled 147.1 million barrels of oil equivalent (boe), including 18.66 billion cubic meters (bcm) of natural gas and 2,987 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 14.6 million boe, or by 11.0% as compared with the first quarter 2018.

Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, signed an agreement yesterday to sell its 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Delek CT Investment LLC, a subsidiary of Delek Group Ltd (Delek). The total consideration for this deal is $965 million in cash.

Oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela.

Brent crude oil spot prices averaged $66 per barrel (b) in March, up $2/b from February 2019. Brent prices for the first quarter of 2019 averaged $63/b, which is $4/b lower than the same period in 2018. Despite lower crude oil prices than last year, Brent prices in March were $9/b higher than in December 2018, marking the largest December-to-March price increase since December 2011 to March 2012.

Российско-турецкое взаимодействие в энергетической сфере приобрело стратегический характер, подчеркнул Президент России. “Россия остается крупнейшим поставщиком природного газа в Турцию, в 2018 году было поставлено 24 млрд куб м российского газа, это, кстати, покрывает почти половину от всех потребностей страны”, - отметил Владимир Путин.

The kingdom will pump about 9.8 million barrels a day in March and April and export less than 7 million barrels daily in both months, Al-Falih said in March. Saudi Arabia has a production target of 10.3 million barrels a day.

According to OPEC's latest monthly oil market report, global oil inventories stood at 2.88 billion barrels in January, about 19.1 million barrels above the five-year average that OPEC is targeting with its current output policy.

Annual U.S. crude oil production reached a record level of 10.96 million barrels per day (b/d) in 2018, 1.6 million b/d (17%) higher than 2017 levels. In December 2018, monthly U.S. crude oil production reached 11.96 million b/d, the highest monthly level of crude oil production in U.S. history.

PLATTS - Iranian oil exports, which have been laboring under US sanctions since late last year, have recovered close to prior levels, supported by unflinching demand from China and South Korea, data from shipping sources and provisional tanker tracking data showed Tuesday.

“Уже сегодня доля СПГ в мировой торговле газом уверенно увеличивается. Мы ожидаем, что к 2035 году доля торговли СПГ вырастет до 52 %, к 2040 году - уже до 70%, а доля стран-участников рынка будет расти по экспоненте, особенно в странах региона АТР и Европы”, - полагает глава Минэнерго России.