PLATTS - "We understand that global demand for oil will continue to grow rapidly and this demand will need to be met, so we will likely need to work together, including on upstream technology and joint projects to meet this growing demand," Novak said.

IEA - Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.

PLATTS - As a result, demand for OPEC crude will average 32.86 million b/d in 2018, the organization calculated.

МИНЭНЕРГО РОССИИ - Говоря о сделке по сокращению добычи нефти, Александр Новак отметил, что благодаря венским соглашениям федеральный бюджет получил дополнительный поступления. «За счет этого соглашения мы получили за период 2016-2017 годы в федеральный бюджет примерно 1,7 триллиона рублей, наши компании получили 700 миллиардов рублей. То есть почти 2,5 триллиона рублей – эффект, достигнутый за два года», - сказал глава энергетического ведомства.

PLATTS - Saudi Arabia's commitment to the OPEC-led production output cut deal was confirmed with reduced exports to key Asian outlets in 2017, but Japanese imports of Saudi crude jumped to the highest level in 35 years as the kingdom also maintained its flexibility to meet demand whenever there is a need. Japan's crude oil imports from Saudi Arabia rose 9.5% year on year to 1.295 million b/d in 2017, or 40.1% of total imports in the year, and the country's imports of Saudi crude in 2017 were the highest since 1982, according to the Ministry of Economy, Trade and Industry data.

WNN - The USA has extended production tax credits for advanced nuclear power plants under a budget bill signed into law by President Donald Trump. The nuclear production tax credit is seen as an essential component for the completion of US plants already under construction and for first-of-a-kind small modular reactor (SMR) construction.

BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate.

WNN - Nigeria's first research reactor - a 30 kW Chinese Miniature Neutron Source Reactor similar to units operating in China, Ghana, Iran and Syria - was commissioned at Ahmadu Bello University in 2004. The reactor has been used for the analysis of materials and training. The IAEA is assisting with the conversion of that reactor to low-enriched uranium (LEU) fuel and the repatriation of its irradiated high-enriched uranium (HEU) fuel to China.

EIA - Crude oil production from the major US onshore regions is forecast to increase 110,000 b/d month-over-month in March to 6,756 million b/d, gas production to increase 832 million cubic feet/day to 64,941 million cubic feet/day .

REUTERS - Brent crude futures were at $63.42 per barrel at 0250 GMT, up 63 cents, or 1 percent, from the previous close. U.S. West Texas Intermediate (WTI) crude futures were at $59.83 a barrel. That was up 63 cents, or 1.1 percent, from their last settlement.

REUTERS - “Europe completely miscalculated when they assumed that they won’t need much additional gas and if they need some it can be supplied from outside Russia,” Medvedev, who looks after exports for the world’s top gas producer and exporter, said.

FT - The 25-year deal with China National Petroleum Corporation means Cheniere has pulled ahead in the race to develop a new wave of US LNG export projects to come on stream in the 2020s.

PLATTS - Congress early Friday approved a two-year budget agreement which mandates the sale of 100 million barrels of crude oil from the Strategic Petroleum Reserve within a decade and authorizes sales of another $350 million of government-owned crude this fiscal year.

AOG - A $3.1bn project to introduce crude processing flexibility at the ADNOC-owned Ruwais oil refinery was announced.

REUTERS - A consortium led by India’s Oil and Natural Gas Corp (ONGC) (ONGC.NS) has become the first group to win a stake in Abu Dhabi National Oil Co’s (ADNOC) 40-year offshore oil concession, a deal set to help the UAE expand its foothold in Asia.