Energy Update
* Output reached 11.2 mln bpd in October
* Energy Ministry expects further rise in 2017
* Increase in drilling supporting output growth
* Russian President Vladimir Putin has offered Lukoil the
chance to take part in the privatisation of top oil
producer Rosneft, Vedomosti reports, citing unnamed
sources.
(Wed, 02 Nov 2016) The consumption of U.S. finished motor gasoline reached a new high of 9.7 million barrels per day (b/d) in June 2016, surpassing the previous one-month high of 9.6 million b/d set in July 2007. U.S. gasoline consumption during summer 2016 (June through August) increased by 169,000 b/d, or 1.8%, relative to the same period in 2015.
(Wed, 02 Nov 2016) As a member of the Organization of the Petroleum Exporting Countries (OPEC), Kuwait was the world's 10th-largest producer of petroleum and other liquids in 2015, and it was the fifth-largest producer of crude oil among the 14 OPEC members. Despite its relatively small geographic size (about 6,900 square miles), in terms of production, it only trailed Saudi Arabia, Iraq, Iran, and the United Arab Emirates in production of petroleum and other liquids in 2015.
BEIJING, Nov 2 (Reuters) - Malaysian Prime Minister Najib
Razak said that former colonial powers should not lecture
countries they once exploited on their internal affairs, a
Chinese newspaper reported on Wednesday, in a veiled attack on
the West as he looks to strengthen ties with China.
BEIJING, Nov 2 (Reuters) - Commodity trader Guangdong
Zhenrong Energy Co. Ltd is in talks to secure funding for a $5.5
billion plan to upgrade a Caribbean oil refinery and build a
natural gas terminal, giving China a foothold in a strategic oil
hub.
HELENA, Alabama, Nov 1 (Reuters) - The column of fire
burning from the punctured Colonial Pipeline on
Monday afternoon reached 150 feet (45 metres) above the 75-foot
tall trees in dense forest 12 miles (19 km) south of Helena,
Alabama, the deputy chief of the town's fire department said on
Tuesday.
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