Koffiekamer Terug naar discussie overzicht

Tot hoever stijgt de olieprijs?

1. voda 2 april 2018 15:36

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   OPEC to stick to supply curbs despite oil rally to USD 71 - Report
   
   Reuters reported that OPEC and its allies look set to keep their deal on cutting oil supplies for the rest of 2018, five sources familiar with the issue said, although some producers are starting to worry that high prices may be giving too much stimulus to rival output. OPEC, Russia and several other non-OPEC producers have curbed output since January 2017 to erase a global glut of crude that had built up since 2014. They have extended the pact until the end of 2018, and meet on June 22 to review policy.
   
   The deal has boosted oil prices, which topped $71 a barrel this year for the first time since 2014. They were close to $70 on Wednesday. But it has also encouraged a flood of U.S. shale oil, fuelling a debate about how effective the curbs are.
   
   An OPEC source from a major Middle East producer said, referring to the supply-cuting deal "June will be a rollover until the meeting later in the year to make a decision for next year, depending on market conditions."
   
   The source said achieving a balance between supply and demand in the second half of 2018 was "the most likely scenario, if production, demand and compliance levels stay as now."
   
   The chance of a significant tweak to the deal being agreed in June is low, most OPEC delegates say. But some officials are privately talking about the issue, a sign that prices have risen more strongly than expected.
   
   A non-Gulf OPEC source, who asked not to be identified by name "The level of oil prices from now until the June meeting is going to affect the decision at that time."
   
   He said that "Prices between USD 60 and USD 65 can support the continuation of the agreement for the rest of 2018," referring to benchmark Brent crude. "A very high price could convince the parties to the agreement to reconsider it."
   
   The deal has delivered an even bigger cut than called for, mainly because of a drop in Venezuelan production, where output is collasping due to an economic crisis. Compliance with the deal reached an unprecedented 138 percent in February.
   
   Another OPEC source also raised the possibility revising the agreement in June should the market become short of oil. But four more Middle East delegates did not expect any changes.
   
   Source : Reuters
2. voda 2 april 2018 15:39

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   US net energy imports in 2017 fall to their lowest levels since 1982 - EIA
   
   Total net energy imports to the United States fell to 7.3 quadrillion British thermal units (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower. Gross energy imports have been generally decreasing from a high of 34.7 quads in 2007; however, the larger factor leading to the reduction in the net energy trade balance has been increasing energy exports. Gross energy exports rose to 18.0 quadrillion Btu in 2017, a 27% increase from 2016 and the highest annual US energy exports on record.
   
   Increasing US energy exports have been driven largely by increases in exports of petroleum products and natural gas. In recent years, exports of crude oil have also contributed to the overall rise in energy exports after crude oil export restrictions were lifted at the end of 2015. In energy content terms, the United States now exports nearly as much energy in the form of crude oil (2.3 quads) as coal (2.5 quads).
   
   In 2017, the United States saw substantial increases in exports of all fossil fuels, with exports of crude oil (89% higher than in 2016), petroleum products (11% higher), natural gas (36% higher), and coal (61% higher) all increasing over the prior year. Exports of crude oil and petroleum products both reached record levels. Petroleum products such as gasoline, distillate fuel, propane, and other fuels currently make up the largest share (54%) of U.S. energy exports.
   
   The United States became a net exporter of petroleum products in 2011 and natural gas in 2017. In 2017, the United States was a net exporter of coal, coal coke, petroleum products, natural gas, and biomass, but a net importer of crude oil. Net electricity trade with Mexico and Canada was relatively minimal.
   
   An increase in total US energy production contributed to the decline in net imports in 2017, led by production increases in renewable energy (8%), especially hydropower and wind, as well as production increases in coal (6%), natural gas plant liquids (6%), crude oil (5%), and natural gas (1%). Total U.S. energy consumption was virtually unchanged from the previous year’s level.
   
   Source : Strategic Research Institute
3. voda 3 april 2018 21:06

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   Olieprijs herstelt
   Maandag nog flinke opdoffer.
   
   (ABM FN-Dow Jones) Olie is dinsdag, net als Wall Street, wat hersteld van de prijsval een dag eerder.
   
   De mei-future op een vat West Texas Intermediate steeg 0,50 dollar, of 0,8 procent, op een settlement van 63,51 dollar. Maandag ging er juist nog 1,93 dollar, ofwel drie procent verloren.
   
   Gisteren was het de oplaaiende handelsoorlog die druk zette op de olieprijs, nadat China besloot om heffingen op onder meer Amerikaans varkensvlees, fruit en andere basisproducten in te stellen als reactie op de Amerikaanse importtarieven op staal en aluminium.
   
   "Het is de start van een handelsoorlog die uiteindelijk de vraag naar olie zal drukken", waarschuwde voorzitter Andy Lipow van Lipow Oil Associates maandag.
   
   Dinsdag zorgden een dalende olieproductie in Venezuela en tekenen dat oliekartel OPEC en Rusland overwegen hun akkoord om de productie te beperken te verlengen voor steun, aldus analisten van Tradition Energy.
   
   Dat nam niet weg dat de Russische olieproductie in maart met 20.000 vaten per dag steeg. Daarmee kwam de productie uit op net geen 11 miljoen vaten per dag.
   
   Daarbij is ook de Amerikaanse productie nog altijd flink op stoom, voegden analisten van PVM Oil Associates toe.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
4. voda 3 april 2018 22:16

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   ExxonMobil wins eight deepwater blocks in latest Brazil bid round
   Gasoil News - Published on Tue, 03 Apr 2018
   
   ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round. The blocks awarded add about 640,000 net acres to the ExxonMobil portfolio. Six of the eight newly awarded blocks will be operated by ExxonMobil.
   
   The additional blocks expand the company’s total position in the country to more than two million net acres, making it one of the largest acreage holders among international companies in Brazil.
   
   “These recent bid round results add highly prospective acreage to ExxonMobil’s deepwater portfolio that we will explore and develop with our partners,” said Steve Greenlee, president of ExxonMobil Exploration Company. “This acreage in Brazil’s pre-salt play will provide excellent opportunities to deploy our deepwater expertise. We will continue working with the government to develop these world-class resources for the benefit of Brazilians for many years to come.”
   
   ExxonMobil and its partners jointly won a total of eight blocks, which include:
   Two blocks in the Santos area which ExxonMobil will operate with partner Qatar Petroleum.
   Four blocks in the Campos area: ExxonMobil will operate two blocks with partners Petrobras and Qatar Petroleum; Petrobras will operate two blocks with partners ExxonMobil and Statoil.
   Two blocks in the Sergipe-Alagoas area which ExxonMobil will operate with partners Queiroz Galvão Exploração e Produção (QGEP) and Murphy Oil Corporation, and which will enhance the value of adjacent blocks already held.
   
   ExxonMobil plans to obtain 3-D seismic coverage in 2018 on more than 4,000 square kilometers, including all of the ExxonMobil-operated exploration blocks announced in 2017, subject to permitting approvals.
   
   The company now has interests in 24 blocks offshore Brazil. ExxonMobil has worked in Brazil for more than 100 years.
   
   Source : Strategic Research Institute
5. voda 3 april 2018 22:16

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   Shell expands Brazil operated footprint with new deep-water blocks
   Gasoil News - Published on Tue, 03 Apr 2018
   
   Shell Brasil Petroleo, a subsidiary of Royal Dutch Shell plc (“Shell”), has won four additional deep-water exploration blocks in the Campos and Potiguar basins, bringing its total operated presence offshore Brazil to 18 blocks. In the 15th deep-water bid round organized by the Brazilian National Petroleum Agency (ANP), Shell secured one exploration block on its own, and three in joint-bids with Chevron Brazil, Petrobras, and Petrogal Brasil. Of the newly acquired blocks today, Shell will operate two.
   
   Shell will pay its share of the total signing bonuses, equating for all bids to approximately US$70-million.
   
   Mr Andy Brown, Upstream Director, Shell, said that “We continue to demonstrate our commitment to growing our production in Brazil and our strong belief in the value deep-water resources brings to our global portfolio. This bid round offers significant potential for additional deep-water discoveries. These lease commitments fall within our agreed capital ceiling and are consistent with our value-based approach.”
   
   Globally, Shell plans to invest US$5-6 billion each year through 2020 into its deep water business to strategically grow production and returns for the company. The business is on track to deliver annual, free cash flow of US$6-7-billion by 2020 (at US$60/barrel Brent RT 2016).
   
   New Acreage added to Shell Brasil’s Portfolio
   Campos Basin:
   C-M-791 – Shell Brasil (40% - operator), Petrogal Brasil (20%), Chevron Brazil (40%)
   
   Potiguar Basin:
   POT-M-948 – Shell Brasil (100%)
   POT-M-859 – Petrobras (60%), Shell Brasil (40%)
   POT-M-952 – Petrobras (60%), Shell Brasil (40%)
   
   Source : Strategic Research Institute
6. voda 3 april 2018 22:17

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   Statoil awarded four blocks offshore Brazil
   Gasoil News - Published on Tue, 03 Apr 2018
   
   Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects. A consortium comprising Petrobras (30%), ExxonMobil (40%) and Statoil (30%), presented the winning bid for the C-M-657 block in Campos Basin with a signature bonus of 638,550,000 USD. The same consortium made up of Petrobras (40%), ExxonMobil (40%) and Statoil (20%), presented the winning bid for the C-M-709 block in the Campos Basin with a signature bonus of 450,000,000 USD. Both blocks will be operated by Petrobras.
   
   Statoil, together with BP, presented the winning bid for blocks C-M-755 and C-M-793. The signature bonus for both blocks totalled 26,016,600 USD (Statoil’s share was 40%). The blocks will be operated by BP.
   
   The award in Brazil’s 15th bidding round reinforces Statoil’s ambition of long-term growth in Brazil and strengthens the company’s position in the prolific Campos basin, where it operates the producing Peregrino field. Other key projects located in Campos basin are the Petrobras operated Roncador field, where Statoil has a 25% interest, and BM-C-33, operated by Statoil and currently in the development phase.
   
   Mr Tim Dodson, executive vice president for Exploration in Statoil, said that “We are very pleased with the outcome of this round. We are looking forward to working with our partners to pursue these exciting exploration opportunitie. This award is in line with Statoil’s exploration strategy to build on core positions in prolific and proven basins. Access to new quality acreage is an essential prerequisite for further value creation through exploration activities and for increasing Statoil’s international production level from core areas such as Brazil.”
   
   Statoil’s country manager in Brazil, Anders Opedal, said that “These are world-class assets in a country where Statoil has been present since 2001, with an experienced local organisation and deep understanding of local regulation.”
   
   Mr Opedal said that “I am happy to reinforce our partnership with solid and experienced companies such as Petrobras and ExxonMobil, which are also our partners in other concessions in Brazil, and to form a new partnership with BP.”
   
   However, the blocks are situated in the southern part of the Campos basin, close to our operated position in BM-C-33 (Pão and Gavea), having the potential to capture synergies of scale from existing discoveries and operations in Brazil.
   
   The 15th licensing round was conducted by National Agency of Petroleum, Natural Gas and Biofuel (ANP).
   
   The concession agreements from the 15th licencing round are scheduled to be signed up to 30 November.
   
   Source : Strategic Research Institute
7. voda 3 april 2018 22:19

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   Wavefront Technology expands Powerwave's global distribution network
   Gasoil News - Published on Tue, 03 Apr 2018
   
   Wavefront Technology Solutions Inc., a global leader in the advancement of fluid injection technology for oil and gas well stimulation and Improved/Enhanced oil (“IOR/EOR”) recovery announced it has entered into a Distribution Agreement with Smape SRL (“Smape”) of Italy to market and implement the full Powerwave product line. Smape is a privately owned partnership founded in 1989 with 200 employees and specializing in an array of oilfield services. Focused on the Italian and continental European markets, Smape also has established bases in Egypt, Albania, and Azerbaijan. Smape key clients include ENI, Total, Apache, BP, and ConocoPhillips.
   
   Mr Brett Davidson, Wavefront President and CEO, said that “We are extremely pleased to add Smape to the growing list of top oilfield service providers choosing to align with Wavefront. We look forward to working closely with Smape management to promote Powerwave to Smape’s key clients and continuing to increase the adoption rate of Powerwave globally.”
   
   Wavefront is also pleased to announce that it has sent additional equipment to the Kingdom of Saudi Arabia to allow its local marketing partner to equip an additional coiled tubing unit to execute further Powerwave Odyssey Custom Stimulations (POCS).
   
   Mr Davidson said that “We continue to be very pleased with the positive progress we are making with POCS in the Kingdom of Saudi Arabia and across the Middle East market. The addition of another coiled tubing unit allows for an increased number of POCS to be carried out, which will further solidify Wavefront’s dynamic fluid delivery process, Powerwave as the dominate technology for optimized fluid placement during well stimulation.”
   
   Source : Strategic Research Institute
8. voda 3 april 2018 22:22

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   Total starts up production at Timimoun gas field in Algeria
   
   Total announced first gas from the Timimoun field in southwestern Algeria. The production complex with a capacity of around 5 million cubic metres of natural gas per day at plateau (around 30,000 barrels of oil equivalent per day (boe/d)), is jointly operated by Sonatrach (51%), Total (37.75%) and Cepsa (11.25%).
   
   Mr Arnaud Breuillac, President of Exploration & Production at Total, said that "The launch of Timimoun is a new step in the Group’s history in Algeria, where we are a long-term partner. Achieved within the planned budget, the project will contribute to Total’s production growth in 2018."
   
   Timimoun's gas will be produced with 37 wells connected to a gas processing facility that ties into the GR5 pipeline used to transport gas from fields in southwestern Algeria to Hassi R’mel.
   
   Total in Algeria
   Total’s exploration and production activities in Algeria date back to 1952. In 2017, Total’s production in Algeria averaged 15,000 boe/d, all of it from the Tin Fouyé Tabankort (TFT) gas and condensate field located 300 kilometers west of the Libyan border. The Group holds a 35% in interest in TFT. Total also markets lubricants and bitumen in Algeria.
   
   Through the Maersk Oil acquisition, which closed on March 8, 2018, Total now holds a 12.25% interest in the El-Merk, Hassi Berkine and Ourhoud oil fields, with a combined production capacity of 400,000 boe/d.
   
   Source : Strategic Research Institute
9. voda 4 april 2018 16:42

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   Amerikaanse olievoorraden omlaag
   Capaciteitsbenutting stijgt tot 93,0 procent.
   
   (ABM FN-Dow Jones) De voorraden ruwe olie in de Verenigde Staten zijn vorige week gedaald. Dit bleek woensdag uit cijfers van de Energy Information Administration.
   
   In de week eindigend op 30 maart daalden de olievoorraden met circa 4,6 miljoen vaten tot 425,3 miljoen vaten.
   
   De benzinevoorraden slonken met circa 1,1 miljoen tot 238,5 miljoen vaten, terwijl de voorraden stookolie met 0,5 miljoen vaten stegen tot 129,5 miljoen vaten.
   
   De capaciteitsbenutting van de raffinaderijen steeg van 92,3 procent naar 93,0 procent.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
10. voda 4 april 2018 20:49

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    Bahrain makes largest oil discovery in its history
    
    Bahrain announced that it has discovered the largest oil and gas field in the history of the small kingdom, which unlike its Gulf neighbours is not energy-rich. Authorities estimate the newfound reserves at "many times" the volume of Bahrain's only other known oil field, the state-run BNA news agency said. BNA did not give details on the size of the new light shale oil and gas find or on the expected date of the start of production.
    
    Manama is the smallest producer of hydrocarbons in the Gulf Cooperation Council (GCC), which also groups Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
    
    Currently, Bahrain has only one oilfield with several hundred million barrels of crude reserves.
    
    Source : Strategic Research Institute
11. voda 4 april 2018 20:53

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    Olieprijs lager gesloten
    Dreigende mondiale handelsoorlog drukt op sentiment.
    
    (ABM FN-Dow Jones) De prijs voor een vat ruwe olie is woensdag lager gesloten, hoewel uit de meest recente data van de Amerikaanse Energy Information Administration bleek dat de voorraden ruwe olie vorige week onverwacht zijn gedaald.
    
    De toenemende dreiging van een mondiale handelsoorlog woog echter zwaarder op het sentiment.
    
    Uit de data bleek dat de voorraden ruwe olie in de Verenigde Staten in de week eindigend op 30 maart zijn gedaald met circa 4,6 miljoen vaten tot 425,3 miljoen vaten. Vooraf door The Wall Street Journal geraadpleegde analisten rekenden op een stijging van 1 miljoen vaten.
    
    De benzinevoorraden slonken met circa 1,1 miljoen tot 238,5 miljoen vaten, terwijl de voorraden stookolie met 0,5 miljoen vaten stegen tot 129,5 miljoen vaten.
    
    De capaciteitsbenutting van de raffinaderijen steeg van 92,3 procent naar 93,0 procent.
    
    "De combinatie van de hogere capaciteitsbenutting van raffinaderijen en een lage netto-invoer hebben tot een sterker dan verwachte daling van de olievoorraden geleid. Met name de hoge capaciteitsbenutting van de raffinaderijen in de Golfkust en de lage importen hebben tot de daling geleid", zei analist Matt Smith van Clipper Data.
    
    De data zijn in lijn met de meest recente cijfers van het American Petroleum Institute een dag eerder. Uit de data van het API bleek dat de Amerikaanse olievoorraden vorige week zijn gedaald met 3,3 miljoen vaten, terwijl de bewerkte brandstofvoorraden stegen.
    
    De olieprijs daalde naar zijn laagste niveau in twee weken vanwege de risico-aversie in de markt, in reactie op de oplopende handelsspanningen tussen de Verenigde Staten en China. Beijing publiceerde woensdag een lijst van 106 Amerikaanse producten, die onderworpen zullen worden aan importheffingen. Het zou gaan om tarieven tot 25 procent op de import van producten zoals sojabonen en auto's.
    
    De mei-future op een vat West Texas Intermediate daalde woensdag 0,14 dollar, of 0,2 procent, op een settlement van 63,37 dollar.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
12. voda 5 april 2018 19:44

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    OPEC Q1 oil output hits lowest since start of deal - Petro-Logistics
    
    Reuters reported that OPEC’s oil output in the first three months of 2018 has fallen by 425,000 barrels per day (bpd) from its 2017 average, a company which tracks OPEC supply forecast, indicating strong compliance with a pact to reduce production. The Organization of the Petroleum Exporting Countries agreed to cut output by about 1.2 million bpd as of January 2017 to reduce inventories and support prices. The pact has been extended until the end of 2018.
    
    Supply from all 14 OPEC countries in the first three months of 2018 averaged 32.27 million bpd, tanker-tracking firm Petro-Logistics said in an email, down 425,000 bpd from OPEC’s average daily supply for 2017 as a whole.
    
    Petro-Logistics said that “OPEC-14 supply in the first quarter of 2018 declined to the lowest quarterly level since the production curtailment agreement came into effect some fifteen months ago.”
    
    Compliance with the deal has been high by OPEC standards, as a steep involuntary decline in Venezuela, where output is dropping amid economic crisis, has added to voluntary cutbacks by top producer Saudi Arabia and its Gulf allies.
    
    Petro-Logistics said that when compared with the same period last year, OPEC supply in the first quarter has fallen by 113,000 bpd.
    
    Source : Reuters
13. voda 5 april 2018 20:45

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    Olieprijs sluit hoger
    Schommelende prijzen.
    
    (ABM FN) De prijs voor een vat ruwe olie is donderdag hoger gesloten, na een wisselvallige dag. De mei-future voor een vat ruwe olie sloot 0,17 dollar hoger op de New York Mercantile Exchange op 63,54 dollar.
    
    Woensdag zakten de olieprijzen tot de laagste niveaus van de laatste twee weken, nadat de vrees voor een handelsoorlog opliep. Donderdag was het omgekeerde het geval en stegen de prijzen.
    
    Recentelijk verkeren de oliemarkten in een impasse. Diegenen die verwachten dat de prijzen stijgen, wijzen op de verkrappende voorraden. Maar anderen zien risico's van de groeiende schalieproductie door Amerika, waarmee de impact van het productieakkoord tussen OPEC en niet-OPEC landen teniet kan worden gedaan.
    
    Daar is de dreiging van het handelsconflict tussen Amerika en China bijgekomen. "Het risico daarvan zie je terug in de schommelende koersen", zei marktvolger Gene McGillian van Tradition Energy.
    
    Door: ABM Financial News.
    
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    (END) Dow Jones Newswires
14. voda 6 april 2018 16:49

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    OPEC March oil output sinks to 11 month low – Reuters
    
    A Reuters survey found that OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, sending compliance with a supply-cutting deal to another record. The Organization of the Petroleum Exporting Countries pumped 32.19 million barrels per day last month, the survey found, down 90,000 bpd from February. The March total is the lowest since April 2017, according to Reuters surveys.
    
    OPEC is reducing output by about 1.2 million bpd as part of a deal with Russia and other non-OPEC producers to get rid of excess supply. The pact started in January 2017 and runs until the end of 2018.
    
    Adherence by producers in the deal rose to 159 percent of agreed cuts from 154 percent in February, the survey found. There was no sign that other producers had boosted output to cash in on higher prices or to compensate for the Venezuelan decline.
    
    Oil has topped USD 71 a barrel this year for the first time since 2014, and was trading above USD 67 on Wednesday. Still, OPEC says supply restraints should be maintained to ensure the end of a glut that had built up since 2014.
    
    In March, the biggest decrease in supply came from Angola, which exported 48 cargoes, two fewer than in the same month of 2017. Natural declines at some fields are weighing on output.
    
    Production in Libya, which remains unstable due to unrest, slipped because of stoppages at two fields, El Feel and El Sharara, setting back 2018’s partial recovery in output.
    
    And production fell further in Venezuela, where the oil industry is starved of funds because of an economic crisis. Output dropped to 1.56 million bpd in March, the survey found, a new long-term low.
    
    Output in OPEC’s largest producer, Saudi Arabia, dropped by 40,000 bpd from February’s revised level, even further below the kingdom’s target.
    
    OPEC’s No. 2 producer, Iraq, pumped more. Exports from the south, the outlet for most of the country’s crude, rose despite maintenance at a loading terminal. Exports declined from the north but domestic crude use increased.
    
    Source : Reuters
15. voda 6 april 2018 16:51

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    US production of crude oil grew 5pct in 2017, likely leading to record 2018 production - EIA
    
    Annual average US crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase of 464,000 b/d from 2016 levels after declining by 551,000 b/d in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 million b/d, the highest monthly level of crude oil production in U.S. history. U.S. crude oil production has increased significantly over the past 10 years, driven mainly by production from tight rock formations using horizontal drilling and hydraulic fracturing. EIA projects that U.S. crude oil production will continue to grow in 2018 and 2019, averaging 10.7 million b/d and 11.3 million b/d, respectively.
    
    Although much has changed since 1970, Texas continues to produce more crude oil than any other state or region of the United States. Texas has held the top position in nearly every year since 1970, with the exceptions of 1988, when Alaska produced more crude oil than Texas, and from 1999 through 2011, when production from the Federal Gulf of Mexico was higher.
    
    Texas crude oil production averaged 3.5 million b/d in 2017 and reached a record high monthly level of 3.95 million b/d in December 2017. Texas’s 2017 annual production increase of nearly 300,000 b/d—driven by significant growth within the Permian region—was more than all other states and the Federal Gulf of Mexico combined.
    
    Growth in the Permian region, which spans parts of Texas and New Mexico, also contributed to a 74,000 b/d production increase in New Mexico, the state with the second-largest growth in 2017. New Mexico surpassed California and Alaska to become the third-largest crude oil-producing state in the second half of 2017, although it produced less than those states on an annual average basis.
    
    In the Federal Gulf of Mexico, new projects and expansions that started in 2016 ramped up production in 2017, which, along with two other projects that began in 2017, contributed to 51,000 b/d of annual growth to reach the highest annual average crude oil production from the Federal Gulf of Mexico. The Federal Gulf of Mexico was the second-largest producing region in 2017.
    
    Production levels in Colorado, Oklahoma, and North Dakota each grew by more than 30,000 b/d from 2016 to 2017, while Alaskan production increased only slightly. California’s production declined 34,000 b/d, the state’s third consecutive annual decline.
    
    Source : Strategic Research Institute
16. voda 9 april 2018 20:36

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    New discovery contains an estimated 80 billion barrels of tight oil - Mr Sheikh Mohammed
    
    Reuters reported that a new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom's biggest ever find, its oil minister said. Bahrain said on Sunday it had discovered extensive tight oil and deep gas resources off the west coast of the kingdom. Independent appraisals by U.S.-based oil consultants DeGolyer and MacNaughton and oilfield services company Halliburton had confirmed Bahrain's find of "highly significant quantities of oil in place with tight oil amounting to at least 80 billion barrels, and deep gas reserves in the region of 10-20 trillion cubic feet," Oil Minister Sheikh Mohammed bin Khalifa al-Khalifa said.
    
    Tight oil is a form of light crude oil held in shale deep below the earth's surface that is extracted with hydraulic fracturing, or fracking, using deep horizontal wells.
    
    Mr Sheikh Mohammed told a news conference in Manama"Agreement has been reached with Halliburton to commence drilling on two further appraisal wells in 2018, to further evaluate reservoir potential, optimise completions, and initiate long-term production."
    
    He said that he was not sure yet how much of the estimated 80 billion barrels was recoverable, but the kingdom aims to attract foreign oil and gas firms to develop the resources.
    
    Bahrain's National Communication Centre said in a statement "The newly discovered resource, which officials expect to be 'on production' within five years, is expected to provide significant and long-term positive benefits to the kingdom's economy - both directly and indirectly through downstream activities in related industries."
    
    Mr Sadad al-Husseini, a former senior executive at Saudi Aramco and now an energy consultant, said the discovery was positive news for Bahrain, but more data gathering, evaluation and well testing needed to follow to determine whether there are any future commercial opportunities in the resources.
    
    He said that "Converting resource estimates to reserves is an intense and costly process and not all the resources may ultimately be upgraded to reserves. The additional drilling and data gathering will serve to improve the accuracy and reliability of the estimate."
    
    Bahrain, which is rated junk by all three major credit rating agencies, revealed the oil discovery just a few days after yields on its international bonds spiked as investors became more concerned about its rising public debt levels.
    
    Source : Reuters
17. voda 9 april 2018 20:38

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    Nord Stream 2 receives permit to use the Finnish EEZ for building the pipeline
    
    Nord Stream 2 AG received the Government’s consent for the use of the Finnish Exclusive Economic Zone (EEZ) for the construction of the planned natural gas pipelines in its 374-kilometres-long section running through Finnish EEZ outside territorial waters. The EEZ permit application was processed by the Ministry of Economic Affairs and Employment.
    
    “We are very pleased to have obtained this permit after an extensive and thorough permitting process. It marks yet another important milestone for the Nord Stream 2 project,” said Tore Granskog, Permitting Manager Finland at Nord Stream 2 AG.
    
    In Finland, Nord Stream 2 needs to obtain two permits for the construction and operation of the pipelines in the Finnish EEZ. The second permit is granted according to the Water Act and a decision is expected to be made within the next weeks. The company has already received the necessary permits in Germany. The national permitting procedures in the other three countries along the route – Russia, Sweden and Denmark – are proceeding as planned.
    
    Source : Strategic Research Institute

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18. voda 9 april 2018 21:51

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    Olieprijs stijgt
    Opluchting na ontspanning retoriek rond handelsoorlog.
    
    (ABM FN-Dow Jones) De olieprijs is maandag sterk gestegen, in navolging van de aandelenmarkten en herstelde daarmee ongeveer de helft van de verliezen van de voorgaande week.
    
    Een meifuture voor een vat ruwe olie op de New York Mercantile Exchange steeg maandag met 2,1 procent tot 63,42 dollar, herstellend van de daling van 2,4 procent afgelopen vrijdag.
    
    De markt zag "een aardige opluchtingsrally nadat Amerikaanse regeringsfunctionarissen in het weekend terugkrabbelden over een handelsoorlog met China", zei Colin Cieszynski van SIA Wealth Management.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
19. voda 10 april 2018 16:19

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    Saoedi-Arabie streeft naar olieprijs van circa 80 dollar - media
    Beursgang Aramco gekoppeld aan hogere olieprijs.
    
    (ABM FN-Dow Jones) Saoedi-Arabië streeft naar een olieprijs van circa 80 dollar per vat. Dit meldde persbureau Bloomberg dinsdag op basis van gesprekken met OPEC-afgevaardigden en marktparticipanten.
    
    Hoewel Saoedische functionarissen proberen te vermijden om een exacte prijsdoel af te geven, zou een olieprijs van circa 80 dollar per vat Riyad in staat stellen om de vele overheidsplannen te financieren, waaronder een ambitieus en duur economisch en sociaal hervormingsprogramma.
    
    Daarnaast zei de Saoedische kroonprins Mohammed bin Salman vorige week in een interview met Time magazine dat Riyad een voorziene stijging van de olieprijs koppelt aan de timing van de beursgang van staatsenergiegigant Aramco.
    
    "Wij geloven dat de olieprijzen dit jaar en in 2019 zullen stijgen, dus we proberen het goede moment [voor de beursgang] te kiezen", zei hij. De beursgang stond in eerste instantie voor de tweede helft van 2018 gepland, maar inmiddels focust Riyad zich op volgend jaar.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
20. voda 10 april 2018 17:05

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    Total sluit grote deal met Saudi-Aramco
    
    Gepubliceerd op 10 apr 2018 om 16:59 | Views: 0
    
    Royal Dutch Shell A 16:43
    27,50 +0,51 (+1,87%)
    
    Total 16:44
    48,65 +0,33 (+0,68%)
    
    PARIJS (AFN/BLOOMBERG) - De Franse oliereus Total staat voor een stevige investering in Saudi-Arabië. Het bedrijf ondertekende een contract met de Saudische branchegenoot Saudi Aramco voor de bouw van een nieuw petrochemisch complex in het land ter waarde van 5 miljard dollar.
    
    Het nieuwe complex in Jubail betekent een uitbreiding van de bestaande samenwerking tussen de bedrijven. De petrochemische installatie wordt ingepast in een bestaande raffinaderij van de joint venture SATORP. Total heeft daarin een belang van ruim een derde. De overige aandelen zijn in bezit van de Saudi's.
    
    De bouw van de installatie begint later dit jaar. Uiteindelijk zal de fabriek goed zijn voor de productie van 1,5 miljoen ton ethyleen en andere producten per jaar.
    
    Het is Saudi-Arabië er alles aan gelegen minder afhankelijk te worden van de oliewinning. Investeren in chemie is een van de manieren om meer waarde uit de vaten opgepompte olie te halen.