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2018, January, 19, 12:10:00
ADNOC'S 2030 STRATEGY
AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.
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2018, January, 17, 23:40:00
CHINA'S OIL DEMAND UP 4.6%
PLATTS - China's apparent oil demand is expected to rise 4.6% year on year to hit 600 million mt (12.05 million b/d) in 2018, with net crude imports to increase 7.7% to 451 million mt, according to a report released Tuesday by state-owned China National Petroleum Corp.'s Economics and Technology Research Institute.
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2018, January, 17, 23:25:00
U.S. OIL +111 TBD, GAS + 890 MCFD
EIA - Crude oil production from the major US onshore regions is forecast to increase 111,000 b/d month-over-month in February to 6,549 million b/d, gas production to increase 890 million cubic feet/day to 64,071 million cubic feet/day .
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2018, January, 17, 23:20:00
BP PAYS $1.7 BLN
BP - The Court Supervised Settlement Program (CSSP) established as part of the Deepwater Horizon (DWH) class action settlement is winding down. BP now expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results for the remaining Business Economic Loss (BEL) and other claims associated with the CSSP. The cash impact is expected to be spread over a multi-year period.
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2018, January, 15, 09:55:00
IRAQ'S OIL PRODUCTION: 5 MBD
PLATTS - Iraq is nearing a production capacity of 5 million b/d, though it will comply with its quota under the OPEC production cut agreement, oil minister Jabbar al-Luaibi said.
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2018, January, 15, 09:45:00
VENEZUELA'S OIL UP
REUTERS - Venezuela’s oil production has increased to near 1.9 million barrels per day (bpd) after hitting a historic low last year, according to Manuel Quevedo, oil minister and head of state oil firm PDVSA, who vowed 2018 will see output rise to more than 2.4 million bpd.
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2018, January, 15, 09:30:00
U.S. RIGS UP 15 TO 939
BHGE - U.S. Rig Count is up 15 rigs from last week to 939, with oil rigs up 10 to 752, gas rigs up 5 to 187, and miscellaneous rigs unchanged.
Canada Rig Count is up 102 rigs from last week to 276, with oil rigs up 87 to 185 and gas rigs up 15 to 91.
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2018, January, 12, 12:45:00
NORWAY'S OIL & GAS WILL UP
NPD - The Norwegian Petroleum Directorate’s production forecast up to 2022 shows an increase from 2020, when Johan Sverdrup has come on stream. Total production of oil and gas in 2022 is estimated to be close to the record‐breaking year 2004. Gas will then account for about one‐half of the production.
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2018, January, 10, 12:45:00
VENEZUELA'S OIL DOWN TO 1.7 MBD
PLATTS - Venezuelan crude output plummeted in December to 1.70 million b/d, according to the latest S&P Global Platts OPEC survey released Monday.
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2018, January, 10, 12:30:00
WORLDWIDE RIG COUNT UP 32 TO 2,089
BAKER HUGHES A GE - The worldwide rig count for December 2017 was 2,089, up 32 from the 2,057 counted in November 2017, and up 317 from the 1,772 counted in December 2016.
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2018, January, 8, 19:05:00
SHELL NEEDS THE SHALE
FT - The growth of Royal Dutch Shell’s oil and gas operations in the next decade will depend on shale production, its chief executive has said, in the latest sign of western energy groups pinning their hopes for expansion on those “unconventional” resources.
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2018, January, 8, 19:00:00
U.S. RIGS DOWN 5 TO 924
U.S. Rig Count is down 5 rigs from last week to 924, with oil rigs down 5 to 742, gas rigs unchanged at 182, and miscellaneous rigs unchanged.
Canada Rig Count is up 38 rigs from last week to 174, with oil rigs up 36 to 98 and gas rigs up 2 to 76.
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2018, January, 3, 15:35:00
NORWAY'S OIL PROBLEMS
BLOOMBERG - Norway’s oil production has been halved since a 2000 peak. While natural-gas output has surged, total production is forecast to fall again in the middle of the next decade. A flurry of investment decisions at the end of last year hides a painful truth: after Statoil’s $6 billion Johan Castberg oil field starts production in the Barents in 2022, the project pipeline is scant.
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2018, January, 3, 15:30:00
U.S. RIGS DOWN 2 TO 929
U.S. Rig Count is down 2 rigs from last week to 929, with oil rigs unchanged at 747, gas rigs down 2 to 182, and miscellaneous rigs unchanged.
Canada Rig Count is down 74 rigs from last week to 136, with oil rigs down 58 to 62 and gas rigs down 16 to 74.
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2017, December, 29, 11:35:00
OPEC'S TRIUMPH
PLATTS - The issuance of a combined 2.8 million b/d cap on formerly exempt members Libya and Nigeria at the organization's November 30 meeting means that OPEC as a whole now has a notional collective ceiling of 32.74 million b/d, when all the members' quotas are added up.
From January-November, compliance was 108% according to S&P Global Platts, one of the six secondary sources used by the organization to monitor output.