U.S set a new record for oil production at 12.1 million barrels a day (mb/d) in February, continuing America’s position as the world’s leading oil producer.
US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
PetroChina Company Limited (“the Company”, HKSE: 0857; NYSE: PTR; SSE: 601857) announced that the Company’s high-quality development is starting to achieve good results, with net profit increasing substantially by 130.7% year-on-year in 2018.
Net profit increased significantly and financial status remained healthy All-in cost of US$30.39/boe, down 6.6% YoY; Net profit of RMB 52.69 billion, up 113.5% YoY; Final dividend of HK$0.40 per share (tax inclusive)
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 85,000 b/d month-over-month in April from 8,507 to 8,592 thousand barrels/day , gas production to increase 883 million cubic feet/day from 78,137 to 79,020 million cubic feet/day .
NPD - Preliminary production figures for February 2019 show an average daily production of 1 745 000 barrels of oil, NGL and condensate, which is a decrease of 75 000 barrels per day compared to January.
OGJ - Stephen Blank, senior fellow for Russia at the American Foreign Policy Council, said, “Nord Stream 2 clearly is a threat to Europe, which is why the Trump administration opposes it. We have now threatened that if Nord Stream 2 is built, the US will impose sanctions not just on the project, but also on the contractors.”
BHGE -U.S. Rig Count is down 1 rig from last week to 1,026 rigs, with oil rigs down 1 to 833 and gas rigs unchanged at 193. Canada Rig Count is down 28 rigs from last week to 161, with oil rigs down 20 to 98 and gas rigs down 8 to 63.
In 2018, world oil demand is estimated to have grown by 1.43 mb/d, down by 0.04 mb/d from the previous estimate amid downward revisions in both OECD and non-OECD regions.
Argentina’s efforts to boost its natural gas output and supply are progressing through new pipeline and transport projects and auctions, moves that are expected to balance the country’s production and demand, the energy secretary said
The Argentine government’s plan to develop the massive Vaca Muerta oil and gas reserves in northern Patagonia has hit a major obstacle.
Brent crude oil spot prices averaged $64 per barrel (b) in February, up $5/b from January 2019 and about $1/b lower than at the same time last year.
Как заявил председатель комитета Павел Завальный, очевидно низкое качество информационного обеспечения ТЭК — одна из серьезнейших проблем, которая создает затруднения в эффективной реализации государственной энергетической политики, регулировании отраслей ТЭК и энергетических рынков.
India is seeking investment from Saudi Arabia to build emergency crude reserves that will act as a buffer against volatility in oil prices and supply disruptions for the third-largest oil consumer.