1.Saipem has reached a $1.7 billion deal with Qatar gas
Saipem, an Italian oilfield service provider, has been awarded a development contract by Qatargas for the north field production sustainability offshore project, which is located offshore Qatar and is worth about $1.7 billion.
2. Premier oil returns to UK offshore business at a time of soaring oil prices
As the global crude oil market recovers, the debt ridden North sea drilling company Premier oil is annexed by chrysaor Holdings Ltd. It will become the largest independent oil and gas producer in the UK stock market again.
3. The fourth quarter profit of pioneer natural resources, a Permian operator, exceeded expectations
On February 23, shale oil producer pioneer natural resources Co. reported better than expected fourth quarter earnings of $177 million as crude oil prices rebounded from a low triggered by the pandemic.
4. Arclight’s $830 million acquisition of shares in ngpl
Kinder Morgan Inc. and Brookfield infrastructure partners LP have agreed to sell a 25% minority stake in Natural Gas Pipeline Co. of America LLC to a fund controlled by Arclight Capital Partners LLC for $830 million.
Ngpl is the largest natural gas carrier in the Chicago area market and one of the largest interstate pipeline systems in the United States. It is also a major carrier of natural gas to large LNG Export facilities and other markets along the Gulf coast of Texas and Louisiana.
5. Reliance to divest petrochemical business with $25 billion loan
Reliance Industries Ltd. has begun to spin off its new petrochemical business as an independent unit and has secured $25 billion in loans from its parent company.
6. Tailwind energy is approved by Evelyn oilfield development plan
Recently, the British oil and Gas Authority (OGA) approved tailwind energy’s development plan for Evelyn oilfield. Tailwind said the project had received a final investment decision.
7. Another 100 million ton oil and gas discovery in Bohai Sea, China
CNOOC announced yesterday that Bozhong 13-2 oil and gas field, a large-scale oil and gas discovery in Bohai Sea of China, has proved 100 million tons of oil and gas equivalent in geological reserves, further consolidating the basis of China’s offshore oil and gas reserves, which is of great significance for stable production of offshore oil and gas fields and ensuring national energy security. Bozhong 13-2 oil and gas field is located in the Central Bohai Sea, 140 km away from Tianjin, with an average water depth of 23.2 meters. According to the test, the average daily output of crude oil is about 300 tons and natural gas is about 150000 cubic meters.
8. YPF needs to raise more than $1 billion for shale drilling
YPF, Argentina’s state-owned oil company, needs to raise more than $1 billion to stimulate drilling in Patagonia, where it leads the development of the largest shale gas field outside the United States.
YPF plans to spend $2.7 billion on capital this year, including $1.3 billion on the VacA Muerta shale area, to stop four consecutive years of production decline.
Post time: Feb-24-2021