OPEC, for some quiet moments..

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Canadian oil sands producers are finally ready to grow again as Cenovus Energy and Canadian Natural Resources announce they are pushing ahead with expansion projects two years into the worst crude slump in decades.

Canadian oil sands producers turn eyes to expansion

First, he was willing to cut the kingdom’s production even deeper than already promised. Second, Riyadh and Moscow were setting aside their historic rivalry as energy suppliers and the toxic politics of Syria to reassert their authority over the world’s most important commodity. “In coming out with such a strong statement, Khalid al-Falih had something of Mario Draghi’s ‘whatever it takes’ moment,” said Helima Croft, chief commodities strategist at RBC Capital Markets LLC, referring to the ECB president’s pledge to save the single currency at the height of the eurozone crisis in 2012.

Saudi Minister Jolts Oil Market With ‘Whatever It Takes’ Moment - Bloomberg

Global spending on oil and natural gas exploration is set to fall next year to the lowest level in 12 years as the industry cuts costs and shuns more expensive areas, such as the Arctic, according to Wood Mackenzie. Companies will allocate $37 billion to exploration and appraisal in 2017, the lowest level since 2005, the consultants said, with spending starting to recover the following year. More than half the volume of oil and gas discovered in 2017 will come from deepwater exploration, it said.

Oil, gas exploration spend to fall to 12-year low as prices bite

Petronas’ first floating liquefied natural gas facility, PFLNG SATU, achieved an industry breakthrough on Dec. 5 with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak. The operational milestone marks a decade long journey for Petronas since conceptualizing a floating LNG facility to maximize the potential of remote and stranded gas reserves to deliver a game changer in the global LNG business.

PFLNG Satu produces first LNG offshore Sarawak