PLATTS - Libya's state National Oil Corp. is targeting a $60 billion overhaul of its oil and gas sector as it strives to reach a pre-civil war output level of around 1.6 million b/d by the end of this year.

API - U.S. production of crude oil (11.7 mb/d) and natural gas liquids (NGLs) (4.8 mb/d); Crude oil exports (2.4 mb/d, tie with Nov. 2018);

BHGE - U.S. Rig Count is up 9 rigs from last week to 1,059 rigs, with oil rigs up 10 to 862 and gas rigs down 1 to 197. Canada Rig Count is up 23 rigs from last week to 232, with oil rigs up 18 to 146 and gas rigs up 5 to 86.

PLATTS - Chevron, PBF Energy, Valero and Citgo, which is owned by PDVSA, are the largest US refiners of Venezuelan crude, according to the US Energy Information Administration. Spokesmen for those four companies did not respond to requests for comment Wednesday.

SANTOS - Record quarterly sales revenue of $1,043 million, up 7% and including record quarterly LNG sales revenue of $449 million, up 11%. Record annual sales revenue of $3,696 million, up 19%

NOVATEK - Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 15,789 million barrels of oil equivalent (boe), including 2,177 billion cubic meters (bcm) of natural gas and 181 million metric tons (mmt) of liquid hydrocarbons. Total proved reserves increased by 4% compared to the year-end 2017, representing a reserve replacement rate of 222% for the year, addition of 1,218 million boe, inclusive of 2018 production.

PLATTS - "We're increasing gas production by up to 10% taking into account Yamal LNG, with liquids output, including crude and condensate, to grow by around 2%, I think," Mikhelson was quoted as saying on the sidelines of the World Economic Forum in Davos.

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 62,000 b/d month-over-month in February from 8,117 to 8,179 thousand barrels/day , gas production to increase 849 million cubic feet/day from 76,708 to 77,557 million cubic feet/day .

NPD - Preliminary production figures for December 2018 show an average daily production of 1 849 000 barrels of oil, NGL and condensate, which is a decrease of 26 000 barrels per day compared to November.

OPEC - The JMMC calls on all participating countries of the ‘Declaration of Cooperation’ to redouble their efforts in the full and timely implementation of the supply adjustments to ensure that the oil market remains in balance in 2019.

REUTERS - In December, crude runs rose 4.4 percent from the year before to 51.17 million tonnes, or 12.05 million bpd, hovering near a record of 52.78 million tonnes racked up in October.

PLATTS - US onshore E&P capital investments in 2019 are likely to be flat to slightly down from last year, with international activity outside North America picking up slowly over the next several months, Schlumberger's top executive said.

SCHLUMBERGER - Schlumberger Chairman and CEO Paal Kibsgaard commented, “Full-year 2018 revenue of $32.8 billion increased 8% year-on-year and grew for the second successive year. Performance was driven by North America where revenue of $12.0 billion increased 26% due to the results of our OneStim® business, which grew by 41%. Full-year international revenue of $20.4 billion was essentially flat compared with 2017. However, excluding Cameron, international revenue for the second half of 2018 showed year-over-year growth of 3%, marking the beginning of a positive activity trend after three consecutive years of declining revenues.

BHGE - U.S. Rig Count is down 25 rigs from last week to 1,050 rigs, with oil rigs down 21 to 852 and gas rigs down 4 to 198. Canada Rig Count is up 25 rigs from last week to 209, with oil rigs up 25 to 128 and gas rigs unchanged at 81.

REUTERS - The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years.