Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut.

PLATTS - An international tribunal on Friday ordered Venezuela to pay ConocoPhillips roughly $8.7 billion in compensation for the seizure of company assets in 2007.

BHGE - The worldwide rig count for February 2019 was 2,306, up 41 from the 2,265 counted in January 2019, and up 135 from the 2,171 counted in February 2018.

BHGE - U.S. Rig Count is down 11 rigs from last week to 1,027 rigs, with oil rigs down 9 to 834 and gas rigs down 2 to 193. Canada Rig Count is down 22 rigs from last week to 189, with oil rigs down 22 to 118 and gas rigs unchanged at 71.

МИНЭНЕРГО РОССИИ - Как отметил по итогам встречи Александр Новак, Россия полностью выполняет взятые на себя обязательства в соответствии с раннее заявленными планами поэтапного сокращении добычи к концу марта этого года.

BHGE - U.S. Rig Count is up 57 rigs from last year's count of 981, with oil rigs up 43 and gas rigs up 14. Canada Rig Count is down 91 rigs from last year's count of 302, with oil rigs down 71 and gas rigs down 20.

Brent crude oil spot prices averaged $59 per barrel (b) in January, up $2/b from December 2018 but $10/b lower than the average in January of last year.

EXXONMOBIL - ExxonMobil said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well.

МИНЭНЕРГО РОССИИ - “Сегодня мы видим на рынке более-менее спокойную, стабильную ситуацию, невысокую волатильность и более-менее приемлемые цены, которые устраивают и экспортеров, и потребителей. Мы считаем, что благодаря сделке, в первую очередь, достигнута такая стабильность”, - подчеркнул Александр Новак.

Abu Dhabi: Energy Minister Suhail Al Mazroui said the oil market is on the “right track” and that the market will quickly return to balance in the first quarter of this year.

REUTERS - Based on current market data, the so-called OPEC+ group is “likely to continue with the production cuts until the end of the year”, the source told Reuters.

EXXONMOBIL - Exxon Mobil Corporation added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production.

SHELL - Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to 319 million tonnes, according to Shell’s latest annual LNG Outlook.

REUTERS - Weak returns at U.S. shale producers could cost more executives their jobs and lead to increasing battles with activist investors, analysts said following changes at two producers.

REUTERS - Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges facing a government that vows to pump far more in a few years.