1. Rosneft discovered a new large gas field in the Kara Sea
The state reserves Commission has confirmed that Rosneft has discovered an Arctic gas field with estimated reserves of 800 billion cubic meters in the Kara Sea. The field was discovered during the drilling process of an oil and gas development plan launched by Rosneft in 2014. Rosneft has 20 years of exploration and production rights in the area. The first well drilled in the development plan led to the discovery of one of the world’s largest oil and gas fields, the pobeda field, which has an estimated recoverable reserves of 130 million tons or 953 million barrels of ultra light oil and 422 billion cubic meters of natural gas.
2. Europe’s major truck manufacturers promise to stop selling diesel vehicles by 2040
Europe’s leading truck and truck manufacturers, including Ford, Scania, man, Volvo, DAF, Daimler and Iveco, have signed a joint commitment to phase out diesel trucks and work towards hydrogen powered or battery powered vehicles within 20 years, the Financial Times reported on Monday, It is expected to invest $61 billion (50 billion) to $122 billion (100 billion) in such technologies, 10 years ahead of the original plan. A few days earlier, the European Union agreed on stricter emission reduction targets for the next 10 years, namely, to reduce greenhouse gas emissions by at least 55% compared with 1990 levels by 2030, compared with the previous target of 40%.
3. ExxonMobil is committed to reducing emissions intensity
ExxonMobil, the US oil giant, said on Monday it plans to reduce greenhouse gas emission intensity of its upstream businesses by 15% to 20% from 2016 levels by 2025 to support the Paris Agreement. A few days ago, the company was again criticized by shareholders for its lack of energy transformation plans.
4. Russia’s first LNG pump successfully tested in Russia
Novatek, Russia’s largest independent natural gas producer, has announced that Russia’s first large cryogenic pump has been successfully tested in Yamal LNG project. The cryopump was designed and manufactured by afrikantov okb mechanical engineering company as part of Russia’s import substitution strategy.
In 2017, novatech entered the global LNG market by successfully launching Yamal LNG project. The company’s upstream business is mainly concentrated in the high-yielding Yamal Nenets autonomous region, which is the world’s largest natural gas producer, accounting for about 80% of Russia’s natural gas production and about 15% of the world’s natural gas production.
5. Brazil’s major oil companies are demanding an extension of exploration
The Brazilian Petroleum Association IBP has asked the Brazilian Ministry of mines and energy (MME) to extend the exploration deadline specified in the exploration and production (E & P) contract and to assess the regulatory impact of the assumed 24 month delay in exploration terms. During the oil and gas crisis of 19 months, the oil and Gas Exploration Agency of Brazil passed a resolution to extend the regulation of oil and gas in 19 months.
IBP represents the major exploration and production companies operating in Brazil, including Petrobras, shell, Chevron, equinor, ExxonMobil, total and BP.
6. OPEC + rotating chairman warns against rushing to increase production
The OPEC + rotating chairman reiterated that OPEC + oil producing countries should not rush to increase production at the beginning of next year, and said that energy demand remained fragile due to the outbreak of the new coronavirus in some parts of the world. The rotating chairman of OPEC and Algerian Energy Minister natal said there was no guarantee that OPEC and its allies would increase crude oil production by 2 million barrels / day by April, despite an agreement earlier this month to gradually reach that level.
7. IEA expects the global oil supply surplus to continue until the end of 2021
After a new round of blockades, the International Energy Agency (IEA) cut its forecast of world fuel consumption in a report, warning that “the market remains fragile.”. Meanwhile, it said that the oversupply of crude oil caused by the covid-19 pandemic will disappear by the end of next year, and the market will face a gradual recovery marked by tight demand.
8. Husky energy shareholders overwhelmingly approved the sale to cenovus for nearly $5 billion
The C $6.07 billion (US $4.88 billion) acquisition of husky Energy Inc. by cenovus Energy Inc. on December 15 was approved by shareholders of both companies and is expected to be completed in the first quarter of 2021. The acquisition also makes cenovus energy Canada’s third largest oil and gas producer.
Post time: Dec-16-2020