Construction contract signed for second string of TurkStream’s offshore section

U.S. Rig Count is up 237 rigs from last year's count of 514, with oil rigs up 184, gas rigs up 52, and miscellaneous rigs up 1. Canadian Rig Count is up 125 rigs from last year's count of 206, with oil rigs up 85 and gas rigs up 40.

It was noted that Gazprom’s gas supplies to the German market had reached a record of 49.8 billion cubic meters in 2016. The upward trend in gas demand continues in early 2017. In January, gas exports grew by 23.2 per cent versus the corresponding month of 2016. Between February 1 and February 15, gas deliveries added 37 per cent compared to the same period of last year.

Это стало возможным только после того, как цены на нефть упали до $27 за баррель, а инвестиции в отрасль после двух лет кризиса сократились примерно на полтриллиона долларов.

U.S. crude oil production increased for the second consecutive month in November 2016, the first consecutive monthly increase since April 2015.

Gazprom and CNPC broadening strategic cooperation in energy sector

The country imported 34.03 million mt of crude in January, down 6.5% from the record high of 36.38 million mt in December despite surging 27.5% on the year.

U.S. oil production will up 80 tbd, gas production will up 524 mcfd.

European utilities will not reduce their investments in renewables if U.S. President Donald Trump lowers U.S. climate goals, encouraged by Chinese and EU political commitments to low carbon energy.

U.S. Rig Count is up 200 rigs from last year's count of 541, with oil rigs up 152, gas rigs up 47, and miscellaneous rigs up 1. Canadian Rig Count is up 130 rigs from last year's count of 222, with oil rigs up 89 and gas rigs up 41.

Oil supplies fell by around 1.5 million barrels per day last month, including by 1 million bpd for OPEC, leading to record initial compliance of 90 percent with a six-month output-cut deal reached in December by big producers to boost prices.

Iran's crude oil and condensate exports rose 3% month on month in January as it continued to regain market share, widening its appeal among refiners around the globe in the process.

The average price of spot LNG imports to Japan contracted in January 2017 was $8.40/mn Btu, up from $8/mn Btu in December 2016, the ministry of economy, trade and industry (Meti) said February 9, their highest level for two years. But Japan's IEEJ says that prices have now peaked.

But Lee said that South Korean demand for LNG would keep falling in the short-term due to increased electricity output from nuclear and coal-fired power plants. The country is the world's second-biggest LNG importer after Japan.

Indonesia needs to invest $70 billion to $80 billion in gas infrastructure through 2030 to avoid a potential gas shortage, as domestic consumption growth outpaces supply, state-owned energy business Pertamina said Tuesday.