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Upstream

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2019, January, 21, 11:45:00

OIL FOR CHINA: 12.05 MBD

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.

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2019, January, 21, 11:35:00

FLAT US E&P CAPEX

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.

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2019, January, 21, 11:05:00

SCHLUMBERGER NET INCOME $2.138 BLN

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.

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2019, January, 21, 10:55:00

U.S. RIGS DOWN 25 TO 1,050

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.

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2019, January, 18, 10:45:00

OPEC PRODUCTION DOWN 751 TBD

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.

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2019, January, 18, 10:40:00

RUSSIA WILL CUT FASTER

BLOOMBERG - “Of course, we will try to make the cuts faster,” Energy Minister Alexander Novak told reporters in Belgrade, Serbia. “We have our limitations of a technological nature, yet we will aim to reach the levels we agreed on.”

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2019, January, 18, 10:20:00

NOVATEK PRODUCTION +6.9%

NOVATEK - In 2018, NOVATEK’s hydrocarbon production totaled 548.4 million barrels of oil equivalent (boe), including 68.81 billion cubic meters (bcm) of natural gas and 11,800 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 35.1 million boe, or by 6.9% as compared with the twelve months 2017.

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2019, January, 16, 11:10:00

OIL PRICES 2019-20: $61-65

U.S. EIA - EIA forecasts Brent prices will average $61 per barrel (b) in 2019 and $65/b in 2020. In 2018, Brent prices averaged $71/b.

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2019, January, 16, 11:05:00

OPEC WILL DOWN 800 TBD

SHANA - the OPEC Conference that unanimously decided on December 7 to adjust OPEC overall production by 0.8 mb/d from October 2018 levels, effective as of January 2019, for an initial period of six months.

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2019, January, 14, 12:10:00

RUSSIA'S OIL PRODUCTION DOWN 30 TBD

PLATTS - Russia has already lowered its oil output by around 30,000 b/d compared with October volumes, used as a baseline under the latest OPEC/non-OPEC crude production agreement, and still plans to reach a cut of 50,000 b/d by the end of January, Russian energy minister Alexander Novak said Friday.

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2019, January, 14, 12:00:00

SAUDI ARABIA'S OIL RESERVES 268.5 BLN BARRELS

CNBC - Saudi Arabia has additional reserves in an area along the border with Kuwait that has sat idle due to a dispute between the neighbors. Including this so-called Neutral Zone, Saudi oil reserves total 268.5 billion barrels, DeGolyer and MacNaughton concluded. That compares with an earlier estimate of 266.3 billion barrels.

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2019, January, 14, 11:55:00

IRAN'S OIL FOR INDIA DOWN 41%

REUTERS - India’s oil imports from Iran fell by 41 percent in December to 302,000 barrels per day oil (bpd), ship tracking data reviewed by Reuters showed, as pressure from U.S. sanctions took effect.

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2019, January, 14, 11:50:00

IRAQ'S OIL DOUBLED

U.S. EIA - Crude oil production in Iraq averaged 4.5 million barrels per day (b/d) through August 2018, up from 4.4 million b/d in 2017. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it has nearly doubled over the past decade.

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2019, January, 14, 11:00:00

U.S. RIGS UP 0 TO 1,075

BHGE - U.S. Rig Count is unchanged from last week at 1,075 rigs, with oil rigs down 4 to 873 and gas rigs up 4 to 202. Canada Rig Count is up 108 rigs from last week to 184, with oil rigs up 83 to 103 and gas rigs up 25 to 81.

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2019, January, 11, 11:30:00

NORWAY'S PETROLEUM PRODUCTION WILL UP

NPD - The Norwegian Petroleum Directorate’s forecasts show that, after a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then approach the record year of 2004.