Upstream
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2018, March, 5, 11:25:00
SOUTH CHINA SEA OIL
REUTERS - Any deal between the Philippines and a Chinese firm to jointly explore for gas in the Reed Bank of the South China Sea will be illegal unless China recognizes the southeast Asian nation’s sovereign rights there, a Philippine judge said on Monday.
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2018, March, 4, 11:10:00
NORWAY'S PETROLEUM RESOURCES: 15.6 BLN M3
NPD - The Norwegian Petroleum Directorate’s (NPD’s) estimate for total proven and unproven petroleum resources on the Norwegian continental shelf is about 15.6 billion standard cubic metres of oil equivalents.
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2018, March, 4, 10:52:00
AUSTRALIA'S LNG INVESTMENT: $900 MLN
GT - Santos and its GLNG partners—Petronas, Total and KOGAS—will make a massive capital investment of $900 million in upstream developments in the Maranoa, Western Downs, Central Highlands and Banana regions in Queensland this year.
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2018, March, 4, 10:45:00
TOTAL BUYS IN LIBYA
REUTERS - French energy company Total (TOTF.PA) substantially raised its presence in Libya with the purchase of a 16.33 percent stake in Libya’s Waha concessions from U.S. Marathon Oil (MRO.N) for $450 million on Friday.
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2018, March, 4, 10:30:00
U.S. RIGS UP 3 TO 981
BAKER HUGHES A GE - U.S. Rig Count is up 3 rigs from last week to 981, with oil rigs up 1 to 800, gas rigs up 2 to 181, and miscellaneous rigs unchanged.
Canada Rig Count is down 4 rigs from last week to 302, with oil rigs up 2 to 211 and gas rigs down 6 to 91.
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2018, February, 27, 14:00:00
OPEC - RUSSIA COOPERATION
PLATTS - "I think we are seeing more cooperation, and my hope is that this group of OPEC and non-OPEC will incentivize the adequate investments among themselves to ensure we have adequate supply in the market," he said. "My worry is not an oversupply. My worry is an undersupply. Everyone is expecting that we will have more demand coming in the future."
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2018, February, 27, 13:55:00
U.S. OIL PRIODUCTION UP TO 10.2 MBD
API - U.S. crude production rose to 10.2 million barrels per day (MBD) in January – the highest monthly output on record, according to API’s monthly statistical report. This was an increase of 1.1 percent versus December and 15.1 percent from January 2017.
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2018, February, 27, 13:05:00
NIGERIA'S ECONOMY UP TO 1.92%
REUTERS - Oil production rose to 1.91 million barrels a day (mbpd) in the last quarter of 2017 compared with 1.76 mbpd in the same period of 2016, the statistics office said.
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2018, February, 27, 13:00:00
U.S. RIGS UP 3 TO 978
BAKER HUGHES A GE - U.S. Rig Count is up 3 rigs from last week at 978, with oil rigs up 1 to 799, gas rigs up 2 at 179, and miscellaneous rigs unchanged.
Canada Rig Count is down 12 rigs from last week to 306, with oil rigs down 9 to 209 and gas rigs down 3 to 97.
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2018, February, 16, 23:30:00
SAUDIS - RUSSIA AGREEMENT
FT - Crude producers led by Saudi Arabia and Russia will aim to draft an agreement to formalise their partnership for oil market co-operation by the end of 2018, the UAE’s energy minister said.
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2018, February, 16, 23:25:00
SAUDI - IRAQI TALKS
AOG - Saudi Arabia's Energy Minister Khalid al-Falih has said that the recent talks with his Iraqi counterpart stressed the need to strengthen commitment to a OPEC-led agreement to reduce crude output.
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2018, February, 14, 10:10:00
RUSSIA - OPEC RELATIONSHIP
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.
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2018, February, 14, 10:05:00
IEA: OIL DEMAND GROWTH 1.6 MBD
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.
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2018, February, 14, 10:00:00
OPEC'S OIL DEMAND: 32.86 MBD
PLATTS - As a result, demand for OPEC crude will average 32.86 million b/d in 2018, the organization calculated.
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2018, February, 14, 09:40:00
BP STARTS IN EGYPT
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.