The US Energy Information Administration expects Brent crude oil prices to average $51/bbl in 2017 and $52/bbl in 2018, down $2/bbl and $4/bbl, respectively, from last month’s Short-Term Energy Outlook. Source: News

The number of global upstream projects reaching final investment decision (FID) could double to 25 in 2017 from 12 last year, research and consulting firm Wood Mackenzie Ltd. says in a new report. Source: News

In an otherwise restorative year for US energy policy, a large item of business goes unfinished. Reintroduction in the Senate late last month of supposedly comprehensive energy legislation underscores the deficiency. Source: News

The 2017 World Energy Investment Report by the International Energy Agency showed that the fall in global upstream oil and gas investment in 2015 and 2016 totaled $345 billion. The number of sanctioned crude oil projects in 2016 reached the lowest level since before 1950. Source: News

Statoil ASA plans to recruit more than 50 skilled workers annually in the coming years to bolster its Norwegian continental shelf capabilities. Source: News

Ophir Energy PLC plans to cut half of the corporate roles in its London office and half of its expatriate positions, representing around 15% of the firm’s global workforce. Source: News

OMV Petrom SA, Bucharest, has commissioned a railway section for transporting fuel production inside its 4.5-million tonne/year Petrobrazi refinery in the southeast region of Romania, near Ploiesti City. Source: News