Energy Notes -- Thursday, December 24, 2015

Tweeting now:

Russia sees 2015 crude oil exports up 7.5% to 4.548 mil b/d for first time since 2011; refining throughput down 2.4% to 5.663 mil b/d. 

I don't know what to make of the latter (refining throughput) but low oil prices certainly encourage folks to buy it, either for use or storage.

Meanwhile, for OPEC, these two tweets:

• OPEC crude oil exports to rise 70,000 b/d in 4 weeks to January 9, 2016.
• Saudi Arabia's King Salman urges diversification of economy, reduction of high dependence on oil.

Camel hair coats by Ralph Lauren, perhaps? Or how about using the sand for computer chips? That's what they are doing in Arizona.

Pakistan's gasoline demand set for strong growth, imports to rise. Platts reports the story here.

Pakistan's gasoline demand is expected to show strong growth over the next couple of years, forcing the country to boost its imports of the auto fuel.

According to estimates from the petroleum ministry, gasoline demand is expected to grow by 15% year on year to 5.3 million mt (around 39.5 million barrels) in fiscal 2015-2016 (July-June) led by low prices, non-availability of compressed natural gas and a rise in auto sales.

In 2016-17, demand is expected to rise 11% on the year to 5.9 million mt. 

I assume the Pakistanis are not unique in the world, looking to raise their standard of living, buying more trucks, buying nicer cars, and using more gasoline.

The Permian:

• The Permian Basin shows continued drilling resilience, gains 5 oil rigs, making 10-rig gain in 2 weeks.

Force majeure declared in Nigeria 

Export of Nigeria’s gas has suffered setback as Italian energy giant, ENI has declared force majeure on loadings from Nigeria’s LNG export plant due to pipeline sabotage.

Reuters quoted the company’s spokesman as saying that the declaration was because of an “act of sabotage” on the Ogoda-Brass transport line.

Ogoda-Brass and Tebidaba-Brass are the two main onshore pipelines in Bayelsa State operated by ENI’s subsidiary.

Previous sabotage of Ogoda-Brass and Tebidaba-Brass, had led to shut down of production at its Akri and Oshi fields as a precaution.

Also an attack on its Ogoda Manifold-Brass Terminal pipeline at the peak of militancy in the Niger Delta had halted production of around 33,000 barrels of oil and two million cubic metres of gas per day.

Nigeria LNG’s export plant at Bonny Island can produce 22 million metric tonnes of liquefied gas a year and accounts for about eight per cent of global LNG supplies.