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1. The 23rd World Petroleum Congress opened in Houston last week The 23rd World Petroleum Congress (WPC) was held in Houston on last Monday. More than 5000 participants from more than 70 countries visit Houston, the world’s energy capital. However, due to travel restrictions caused by Omicr...Read more »
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1. Organization of Petroleum Exporting Countries Member States Increased Crude Oil Production in November Exceeded Limit The Organization of Petroleum Exporting Countries (OPEC) member countries increased production in November far exceeding the requirements of the resumption plan. OPEC member co...Read more »
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1. Shell abandons cambo oil field in the UK Shell announced on Thursday that it would no longer invest in cambo oilfield. Shell explained that the current economic reasons for investing in the project are insufficient and there may be delays. Shell owns 30% of cambo oil field in the UK North Sea,...Read more »
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1. The United States postponed the countervailing investigation on oil pipes from South Korea and Russia Recently, the U.S. Department of Commerce has decided to postpone the countervailing investigation on oil pipes imported from South Korea and Russia. The deadline for the investigation is exte...Read more »
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1. The Brazilian oil giant plans to invest $68 billion to increase production Petrobras plans to invest US $68 billion to expand its crude oil production, accounting for 84% of its total planned investment from 2022 to 2026, a significant increase over the previously announced investment of US $5...Read more »
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1. KCA Deutag wins nearly US$185 million in land drilling contracts in the Middle East KCA Deutag, a global provider of drilling, engineering and technology, has recently won contracts worth nearly US$185 million from leading exploration and production companies in key markets in the Middle East....Read more »
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1. With the rise in oil and gas prices, BP’s profits soared Driven by rising oil and gas prices, refining profit margins, and strong trading performance in the global recovery from the epidemic, energy giant British Petroleum (BP)’s profit in the third quarter of 2021 has soared compared wi...Read more »
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1. Saudi Aramco raises official oil prices sharply Saudi Aramco announced that it would increase the Asian customer price of Arab light crude oil by US $1.40-2.70 per barrel in December. Earlier, OPEC + led by Saudi Arabia and Russia ignored the appeal of US President Biden to accelerate the pace...Read more »
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1. Western oil sold two coastal oil fields in Ghana for $750 million Western Petroleum agreed to sell its shares in two coastal oilfields in Ghana (Jubilee oilfield and ten oilfield) to Kosmos energy (Kos. US) and Ghana national oil company, with a total transaction amount of US $750 million. The...Read more »
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1. Turkish oil awarded Schlumberger a contract to develop its largest natural gas reserves Turkish oil company recently awarded Schlumberger an important contract to provide end-to-end production solutions for Sakarya gas field, Turkey’s largest natural gas reserve, including engineering, p...Read more »
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1. ADNOC granted offshore exploration rights to Pakistan Consortium for the first time The Abu Dhabi National Oil Company (ADNOC) awarded the exploitation right of offshore block 5 to a consortium composed of four Pakistani companies. The winning consortium includes Pakistan Petroleum Company Lim...Read more »
