January 2020

Brent was down 30 cents, or 0.5%, at $64.29 a barrel, WTI fell 33 cents, or 0.6%, to $58.05 a barrel

Crude oil production from the major US onshore regions is forecast to increase 22,000 b/d month-over-month in January from 9,178 to 9,200 thousand barrels/day, gas production to increase 65 million cubic feet/day from 85,920 to 85,985 million cubic feet/day .

Since US LNG exports from the Lower 48 began in February 2016, Europe has received 28.3 Bcm of gas equivalent,

Total US LNG feedgas volumes reached a new all-time high of 9.4 Bcf/d Tuesday, after exceeding 9 Bcf/d for the first time on January 19.

"When storage tanks are full in a few days, Libya's oil production will be limited to 72,000 b/d from offshore fields and Wafa oil field, from over 1.20 million b/d yesterday," a spokesman from National Oil Corporation said late Sunday.

The UK will no longer fund coal projects overseas, British Prime Minister Boris Johnson announced today during his opening address at the UK-Africa Investment Summit in London. Instead, the government will "turbo-charge" its support for low-carbon energy sources, he said, noting that the UK has cut its CO2 emissions by 42% from the 1990 level. The country is the host of the next round of UN climate talks - COP26 - in November.

Australia's Santos record annual sales revenue of over $4 billion, up 10%, generated from sales volumes of 94.5 mmboe

The Abu Dhabi National Oil Company (ADNOC) signed today, a strategic framework agreement with Italy’s energy company, Eni, to explore new opportunities for collaboration in carbon capture utilization and storage (CCUS), where ADNOC is an industry leader, and additional strategic opportunities in research and development (R&D) across the oil and gas value chain.

U.S. Industrial production declined 0.3 percent in December, as a decrease of 5.6 percent for utilities outweighed increases of 0.2 percent for manufacturing and 1.3 percent for mining.

The firm has committed to a $13 billion program to refurbish six of the units which will significantly extend their operating lives. It follows that any new construction of SMRs, or anything else such as a molten salt or other type of advanced unit,, will have to get past a significant financial hurdle in terms of verified cost competitiveness for any utility to decide to proceed with it.