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PENN WEST PETROLEUM LTD. T.PWT

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."


TSX:PWT - Post by User

Post by makedonkaon Mar 27, 2017 1:02pm
98 Views
Post# 26036359

Angola trims May crude exports to boost compliance

Angola trims May crude exports to boost compliance
 LONDON, March 27 Angola's state-run Sonangol has taken two cargoes out of its planned May exports in a move to boost its compliance with an OPEC deal to curb production, an oil trader familiar with Angolan loading plans said on Monday. A revised loading programme showed the country's exports were now set at 1.61 million barrels per day (bpd) from 52 cargoes, down from 1.67 million bpd from 54 cargoes initially. The source said the two cargo loadings removed and pushed into June were an end-month Dalia that was with Sonangol and a Cabinda that was set to load with ENI. Under the deal with the Organization of the Petroleum Exporting Countries (OPEC) and other nations, Angola agreed to cut 78,000 bpd from a reference production level of 1.751 million bpd. So far this year, Angola's production and exports have been well below the target but several fields are coming into production or ramping up, including Chevron's Mafumeira Sul and Eni's West Hub and East Hub projects. Grade May cargoes BPD April cargoes BPD Cabinda 6 184,000 5 158,000 CLOV 5 161,000 6 190,000 Dalia 6 184,000 7 222,000 Girassol 4 129,000 4 133,000 Hungo 3 92,000 2 63,000 Kissanje 3 92,000 4 127,000 Mondo 2 61,000 2 63,000 Nemba 5 153,000 6 190,000 Pazflor 3 92,000 2 63,000 Plutonio 3 97,000 3 100,000 Saturno 6 184,000 5 158,000 Saxi 1 31,000 2 63,000 Sangos 2 61,000 2 63,000 Gimboa 1 31,000 0 0 Palanca 0 0 1 33,000 Olombendo 2 61,000 2 63,000 52 1,613,000 53 1,691,000 (Reporting by Libby George; editing by David Clarke) https://www.reuters.com/article/angola-oil-exports-idUSL5N1H451F?rpc=401&
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