{"id":29014,"date":"2017-12-20T07:34:55","date_gmt":"2017-12-20T12:34:55","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29014"},"modified":"2017-12-20T07:34:55","modified_gmt":"2017-12-20T12:34:55","slug":"oil-market-on-edge-following-outages","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29014","title":{"rendered":"Oil Market On Edge Following Outages"},"content":{"rendered":"

Oil Market On Edge Following Outages<\/a><\/h3>\n\"Oil\"<\/picture>\n
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Several key outages have left the oil markets anxious\u00a0despite a promising start to the week. Analysts are keeping a close eye on both Nigeria and\u00a0Venezuela as political instability threatens to impact supply further.<\/p>\n

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– Brazil\u2019s oil production surged<\/a>\u00a0this year, jumping to 3.3 million barrels per day (mb\/d), up from 3.2 mb\/d in 2016 \u2013 a figure that includes other liquids production.<\/p>\n

– The increase came largely from the pre-salt, which surpassed 1 mb\/d in 2017, a sharp 33 percent increase from 2015 levels.<\/p>\n

– Brazil is now the 9th largest oil producer in the world.<\/p>\n

Market Movers<\/strong><\/p>\n

\u2022 Eni (NYSE: E)<\/strong> started production<\/a>\u00a0at its Zohr gas field in Egypt. Separately, the Italian oil company said that it restarted production at its Goliat field in Norway\u2019s Arctic after a two-month outage.<\/p>\n

\u2022 Ecopetrol (NYSE: EC)<\/strong> announced<\/a>\u00a0its fourth oil discovery in Colombia this year. \u201cThis new discovery shows that we are on the right track to our objective of increasing reserves. We are satisfied with the results of this alliance with Parex, which has underlined the potential of Santander province,” Ecopetrol CEO Felipe Bayon said.<\/p>\n

\u2022 Total SA (NYSE: TOT)<\/strong> announced<\/a>\u00a0a final investment decision for large-scale development of the Libra project in offshore Brazil. The project will consist of a floating production storage and offloading unit with eventual capacity of 150,000 bpd.<\/p>\n

Tuesday December 19, 2017<\/strong><\/p>\n

Oil prices initially rose on Monday on news that Nigerian oil workers went on strike, raising fears of a supply outage. The strike was called off, however, leading to a selloff in oil prices. But the lingering outage of the Forties pipeline continues to support Brent prices.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil Market On Edge Following Outages Several key outages have left the oil markets anxious\u00a0despite a promising start to the week. Analysts are keeping a close eye on both Nigeria and\u00a0Venezuela as political instability threatens to impact supply further. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) – Brazil\u2019s oil production […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[571,2245,5332,16485,851],"class_list":["post-29014","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-nigeria","tag-oil-market","tag-oilprice-com","tag-tom-kool","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29014"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29014\/revisions"}],"predecessor-version":[{"id":29015,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29014\/revisions\/29015"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}