1. Record production in VacA Muerta, Argentina
In December 2020, Argentina’s VacA Muerta oil and gas field produced a record 124000 barrels per day of oil, according to a report by rystad energy, an energy consultancy. And said that if the current level of activity continues, by the end of this year, the block’s oil production will rise to 145000 B / D to 150000 B / d.
VacA Muerta is a 11583 square mile structure, mainly located in Neuqu é n Province, with a depth of more than 8200 feet.
2. Denmark to build a wind energy center on an artificial island in the North Sea
Denmark will build an artificial island in the North Sea as a wind energy center to meet the green energy demand of 10 million European households, the Danish climate and energy ministry said on Thursday. It is one of the country’s ambitions to cut carbon emissions and contribute to the EU’s goal of carbon neutrality by 2050.
At the end of last year, Denmark announced that it would stop extracting oil from the North Sea in 2050, and cancelled all future permits to extract oil and gas from the North Sea.
3. Sumitomo sells Eagle Ford and withdraws from us shale oil business
Sumitomo has withdrawn from its shale oil business in the US by selling its stake in a project at Eagle Ford in the fourth quarter of 2020, a Sumitomo spokesman said on February 4. Sumitomo acquired a 100% stake in the eagle Ford gas field in southern Texas in 2018, with a maximum production of 3000 boegd.
4. New date set for 2021 Abu Dhabi oil show
Adipec, the world’s most important annual energy event in UAE, will be held from November 15 to 18 this year.
Due to the popularity of covid-19, the event was held online last year and will resume face-to-face this year. In order to welcome the 26th United Nations Climate Change Conference (cop26) to be held in Glasgow, the organizers postponed the event for one week. It is estimated that 25 national pavilions, 2200 exhibitors, international and energy service companies will participate in the Expo.
5. Petrobras’ crude oil exports hit an all-time high in January
Petrobras exported a record 19.3 million barrels per day of crude oil through the Angra DOS Reis terminal in January, mainly due to low-cost sub salt fields. Subsalt oilfields have made Brazil one of the hot spots of new oil exploration in the world.
6. Kazakhstan plans to formulate national petrochemical development project by 2025
Nurlan nohayev, Kazakhstan’s minister of energy, said at a regular working meeting on the 2nd that a national project for the development of oil and gas chemistry is planned to be formulated before 2025, allowing the construction of five petrochemical plants to be completed by 2025.
7. Socar signed two EPC contracts with Marie tecnimont
Heydar Aliyev refinery, a subsidiary of socar, has signed two EPC contracts with tecnimont spa, a subsidiary of Maire tecnimont spa, and KT kinetics technology spa. For the modernization and reconstruction of Heydar Aliyev refinery in Baku, Azerbaijan, the total contract value is about US $160 million.
8. Enquest acquired Suncor’s assets for up to US $375 million using its financed debt
Oil producer enquest PLC said on February 4 that through planned debt refinancing and equity financing, it agreed to buy Suncor Energy Inc.’s 27% stake in Golden Eagle oilfield in the North Sea for us $325 million, which is roughly equivalent to the company’s market value.
9. Saudi Arabia has raised oil prices to the US and Europe
On Thursday, Saudi Arabia, the world’s largest oil exporter, raised the price of all crude oil destined for the United States and Europe in March, but the official price of crude oil in Asia, its main market, remained unchanged.
Post time: Feb-05-2021