Market Currents: Saudi versus Shale battle is ongoing
Thursday December 15, 2016
1) BP has announced that its Grande Plutonio oil field has reached the production milestone of 500 million barrels of oil. The field became operational in late 2007, with production capacity of 144,000 barrels of oil per day. As our ClipperData illustrate below, Plutonio is one of a number of key Angolan export grades. Export loadings of Plutonio have averaged 110,000 bpd so far this year through November, while total Angolan exports average ~1.645mn bpd:
2) So much talk about OPEC / NOPEC compliance is great from a ClipperData...