Society is filled with great “follow-ups”… Nirvana’s 2nd album “Never Mind” after “Bleach”, Scorcese’s “Casino”, on the heels of “Good Fellas”, any dunk from ’89 by Dominique Wilkins after a missed lay-up… but today, here on The Surge, the most anticipated follow-up of all time… or at least since 4:30 this afternoon, is about to be revealed. Yes, after the worldly embraced debut of Thomas “King Kong” Kuegler’s “Morning Surge”, it’s time for what America is begging for… i.e: The “Nightly Surge”, a nightly wrap-up of the biggest, latest, and bestest oil and gas news of the day. So now, as they say in illiterate cafés across the country… Here it be:
Russia Tops Saudi Arabia As China’s #1 Oil Supplier
Love him or hate him, you gotta admit, Vladmir Putin’s having a good month. According to my peeps at Oilprice.com, Russia has passed Saudi Arabia as China’s largest supplier of crude oil. This is due mainly to increased demand from independent refineries, or what we in the know refer to as “teapots”. For those keeping score at home, it’s Russia 1.05 million barrels a day – Saudi Arabia 1.02 barrels a day. So if you were in Vegas and had Russia laying .0299 million barrels to China, cash your ticket! Russia will probably hold its place as a top exporter to China this year as well, as long as demand from “teapots” remains strong. As of the time of this writing, “Russian Teapot: Top Of The Food Chain!” Shirts were not yet in production.
The U.S. Department Of Energy To Sell 8 Million Barrels Of Crude Oil Reserve
According to oilandgasinvestor.com, The U.S. Department of Energy has issued a Notice of Sale for crude oil from its Strategic Petroleum Reserve, with bids for 8 million (MMbbl) barrels of light sweet oil due by Jan. 17. Now, I ain’t no smart guy or nuthin’, and got to class late this morning, but isn’t the 17th 6 days ago?? So this bid that was just made today is already overdue? Again, I know nothing…Remember, I still think Ross Perot has a chance to win the ’92 Election so…
This 8 million barrel sale is part of a resolve to sell up to $375.4 million worth of crude in fiscal year 2017 to fund operational improvements to the infrastructure that holds the emergency reserves. I think that means that soon the death star hopes to be operational! (Sorry, couldn’t resist an old Star Wars reference.)
China To Offer More XingJiang Oil/Gas To Block Non-State Firms
When I read this, I spit out my soda!… Not because I was surprised by this news, but because I thought the soda I was drinking was going to be cold. However, this offer is an interesting development. It seems China will auction around 30 oil and gas blocks in the northwest region of XinjJiang this year to investors outside the top state energy firms. “Why?!” You ask – Good question… Beijing wants to juice up their efforts to give a lift to private sector participation. At least that’s what the “State media” is reporting… so it must be 1000% true!
This is the second time an auction like this will be held in Xinjiang, again covering 30 oil and gas exploration blocks totaling 115,830 square miles. The real takeaway here is that XinjJiang sounds more like a passing route that one of Tom Brady’s wide receivers will run in Super Bowl 51 as opposed to a place in China. “Xing off the line, then Jiang to the end zone.” Yes, I’m from Boston originally, so deal with it.