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Markets cheer Saudi deficit-cutting but finances still hostage to oil

DUBAI, Jan 12 (Reuters) - Markets are cheering Saudi
Arabia's progress in cutting a huge state budget deficit, but
details of the kingdom's financial plans show it will remain
hostage to swings in oil prices for many years.

UPDATE 1-Indonesia eases export ban on nickel ore, bauxite

JAKARTA, Jan 12 (Reuters) - Indonesia introduced new rules
on Thursday that will allow exports of nickel ore and bauxite
and concentrates of other minerals under certain conditions, in
a sweeping policy shift from the key global supplier.

UPDATE 1-Britain's National Grid escapes with shake-up not break-up

Jan 12 (Reuters) - Britain's National Grid will
escape with an arms-length separation of its two main businesses
rather than a formal break-up under proposals by energy
regulator Ofgem to ensure the group avoids conflicts of
interest.

How Saskatchewan is Driving Small Wind Producers Out of the Market

It would have been the first 100 percent community-owned renewable power project in North America. Located just south of Swift Current, Sask., the $90-million project would have generated 35 megawatts of electricity from wind turbines and solar panels with electricity sold to the provincial utility, SaskPower.

New Study Helps Map Out Road Ahead for US Electricity System

On Friday, January 6, the Obama Administration released the second installment of the interagency Quadrennial Energy Review (QER 1.2), “Transforming the Nation’s Electricity System”.

Enel Buys Energy Storage Services Firm Demand Energy

Spainish utility Enel yesterday said it has acquired Liberty Lake, Wash.-based energy storage software firm Demand Energy.

UPDATE 2-China's CNPC forecasts record oil demand, warns on product glut

* China crude demand to rise 3.4 pct y/y to record ~12 mil
bpd

Premier Oil sees 2016 revenue slip 10 pct despite record production

LONDON, Jan 12 (Reuters) - North Sea-focused oil producer
Premier Oil said full-year revenue slipped 10 percent
year-on-year in preliminary results, despite production levels
hitting an improved target.

China's oil refining capacity will rise 4.6 pct in 2017- CNPC research

BEIJING, Jan 12 (Reuters) - China's total refining capacity
will increase 4.6 percent to 790 million tonnes in 2017 and net
crude oil imports will rise 5.3 percent to 396 million tonnes,
state-owned China National Petroleum Corporation (CNPC)
forecast on Thursday.

Crude oil prices expected to increase slightly through 2017 and 2018

(Thu, 12 Jan 2017) The U.S. Energy Information Administration’s January <em>Short-Term Energy Outlook</em> (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018.

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