NORTH SEA BFOE – FEBRUARY 2017 – LOADING PROGRAMME – UPDATE 2

Trading sources said two February-loading Forties cargoes, parcels F0212, currently with BP, and F0218, currently with Shell, have been deferred to March, meaning next month’s daily supply will amount to around 429,000 barrels per day, compared with an originally planned rate of around 471,000 bpd.

Full story from Reuters here.

 

 

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OPEC Oil Production – Reuters Survey – January 2017

Jan 31 (Reuters) - The following table shows OPEC crude oil output in millions of barrels per day (bpd) in January and December, according to a Reuters survey published on Tuesday. The survey indicates output from all 13 members of the Organization of the Petroleum Exporting Countries fell by 1.07 million barrels per day in January compared to December, led by Saudi Arabia. OPEC started reducing its output by about 1.20 million bpd on Jan. 1 in its first supply cut decision since 2008 to prop up prices. In December, no production target was in effect. December's total was revised down because Venezuelan output was lower than originally thought and Indonesia's production was subtracted due to its suspension from OPEC. Totals in the table below are rounded. January December Baseline Pledged Cut Compliance Jan. 1 output output for cut cut achieved (pct)* target Algeria 1.080 1.100 1.089 50,000 9,000 18 1.039 Angola 1.650 1.690 1.751 78,000 101,000 129 1.673 Ecuador 0.530 0.550 0.548 26,000 18,000 69 0.522 Gabon 0.200 0.200 0.202 9,000 2,000 22 0.193 Iran** 3.730 3.710 3.707 -90,000 -23,000 3.797 Iraq 4.510 4.710 4.561 210,000 51,000 24 4.351 Kuwait 2.720 2.900 2.838 131,000 118,000 90 2.707 Qatar 0.630 0.640 0.648 30,000 18,000 60 0.618 Saudi Arabia 9.980 10.45 10.544 486,000 564,000 116 10.058 UAE 2.930 3.090 3.013 139,000 83,000 60 2.874 Venezuela 2.050 2.130 (R) 2.067 95,000 17,000 18 1.972 TOTAL OPEC 11 30.010 31.170(R) 30.968 1,164,000 958,000 82 29.804 Libya 0.690 0.630 0.351 Nigeria 1.570 1.540 1.594 TOTAL OPEC 13 32.270 33.340(R) 31.74

Read more: http://www.dailymail.co.uk/wires/reuters/article-4175298/TABLE-OPEC-oil-output-falls-1-07-million-bpd-January-Reuters-survey.html#ixzz4XYoRaAuW 
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OPEC Oil Production – Reuters Survey – December 2016

Totals in the table below are rounded.
                December   November
 Algeria        1.10       1.09
 Angola         1.69       1.72
 Ecuador        0.55       0.55
 Gabon          0.20       0.22
 Indonesia      0.73       0.74
 Iran           3.71       3.68
 Iraq           4.71       4.66 (R)
 Kuwait         2.90       2.90
 Libya          0.63       0.56
 Nigeria        1.54       1.70
 Qatar          0.64       0.64
 Saudi Arabia   10.45      10.60 (R)
 UAE            3.09       3.10
 Venezuela      2.24       2.22
 TOTAL OPEC     34.18      34.38 (R)

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Russia’s Oil Production – December 2016

  • Russian oil production in December stood unchanged at 11.21 million barrels per day (bpd), flat month on month and at its highest in almost 30 years, energy ministry data showed on Monday.
  • Russia is preparing to cut output by 300,000 bpd during the first half of 2017 as a part of a global pact with OPEC aimed at rebalancing the market.
  • Full story from Reuters here.
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NORTH SEA BFOE – FEBRUARY 2017 – LOADING PROGRAMME PRELIMINARY – UPDATE 1

* The Forties stream will load about 471,000 barrels per day (bpd) in February, two trade sources said on Friday, down from January’s initial plan of 503,000 bpd.

Loading programmes for Ekofisk and Brent crude are thought likely to be issued on Jan. 3.

Full story from Reuters here.

 

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NORTH SEA BFOE – FEBRUARY 2017 – LOADING PROGRAMME PRELIMINARY

* The Forties loading programme is expected to appear on Friday, while the Ekofisk schedule is due out on Jan. 3, trade sources said. Brent was thought likely to be issued on Friday.

* The Oseberg programme was issued on Wednesday and schedules a drop in shipments.

Full story from Reuters here.

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Norway Oil Production – November 2016 – Official Data

  • Preliminary production figures for November 2016 show an average daily production of 2 153 000 barrels of oil, NGL and condensate, which is an increase of 37 000 barrels per day (approx. 2 percent) compared to October.
  • Average daily liquids production in November was: 1 739 000 barrels of oil, 380 000 barrels of NGL and 33 000 barrels of condensate. The oil production is about 9 percent above the oil production in November last year and is about 11 percent above the NPD’s prognosis for December 2016. The oil production is about 5 percent above the prognosis so far this year.
  • Full data from the Norwegian Petroleum Directorate here.
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