FT - That the Nord Stream 2 pipeline will increase Europe’s dependence on Russian natural gas is a geographic and arithmetical fact. But buried in the heated rhetoric — now rising to US sanction threats — over how much that matters, is just how inexpensive it would be for Europe to purchase supply diversity with liquefied natural gas from the US.
U.S. DC - When contracting with U.S. companies on public tenders, the citizens of Uzbekistan can be guaranteed that there are no shady deals involved. The 1977 Foreign Corrupt Practices Act prohibits U.S. companies from engaging in any type of corrupt practice to win contracts. The law is strictly enforced by the U.S. Department of Justice and has been instrumental in fighting corruption.
API - The American Petroleum Institute’s latest monthly statistical report shows the U.S. produced a record 11.0 million barrels of crude oil per day (mb/d) in September. U.S. liquid fuels production grew 2.2 mb/d year-over-year (y/y), and the U.S. met virtually all global oil demand growth. As supply increased, crude oil inventories also rose in September but remained nearly 14 percent below those of September 2017.
SHANA - First Vice President Eshaq Jahangiri said the country had plans for ensuring continuation of its oil sales under fresh US sanctions.
BLOOMBERG - Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country.
BHGE - U.S. Rig Count is up 4 rigs from last week to 1,067, with oil rigs up 4 to 873, gas rigs up 1 to 194, and miscellaneous rigs down 1 to 0. Canada Rig Count is down 4 rigs from last week to 191, with oil rigs down 4 to 123 and gas rigs unchanged at 68.
BLOOMBERG - MEG Energy Corp. said Wednesday it had rejected a C$3 billion ($2.3 billion) hostile takeover by Husky Energy Inc. and plans to launch a strategic review with an eye to finding another buyer.
REUTERS - The United States must not determine European energy policy or decide whether Germany buys Russian gas, a top German diplomat said on Tuesday.
U.S. FRB - Industrial production increased 0.3 percent in September, about the same rate of change as in the previous two months. Output growth in September was held down slightly by Hurricane Florence, with an estimated effect of less than 0.1 percentage point.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 98,000 b/d month-over-month in November from 7,616 to 7,714 thousand barrels/day , gas production to increase 957 million cubic feet/day from 73,104 to 74,061 million cubic feet/day .
U.S. DT - On the borrower side, the IMF and World Bank should make efforts to obtain a comprehensive picture of members’ debt positions in both its bilateral surveillance and as part of its lending programs, with the goal of improving debt sustainability.
WNN - The US Department of Energy (DOE) has established a new policy framework on civil nuclear cooperation with China, following a government policy review led by the US National Security Council. The policy covers exports of technology, equipment and components, and material to China.
REUTERS - The United States is tightening controls on China’s imports of civil nuclear technology to prevent use for military or other unauthorized purposes, the U.S. Department of Energy said on Thursday amid increased trade tensions.
PLATTS - Iran played down the impact of looming US sanctions on its economy with a senior official saying on Sunday that the current high oil prices should make up for any fall in oil sales, according to state-owned news agency IRNA.
PLATTS - South Korea imported no Iranian crude in September -- for the first time since September 2012 -- ahead of the looming reimposition of US sanctions on Tehran, preliminary data released by Korea Customs Service showed Monday.