1.Four new oil and gas discoveries in Saudi Arabia
Saudi Aramco has discovered four new oil and gas fields near Dhahran, the northern city of rafhaa and Ghawar, Saudi energy minister Abdulaziz bin Salman said on Sunday. At present, Saudi Arabia’s oil reserves account for about 17% of the world’s proven oil reserves. The oil and gas industry accounts for about 50% of its GDP and 70% of its export earnings.
2. Russneft plans to produce 6.5 million tons of oil in 2021
According to this year’s operating data, russneft, a Russian oil company, will produce 6.38 million tons of oil, which is in line with the terms of the OPEC + agreement and ranks among Russia’s top 10 oil companies. Next year, russneft plans to produce 6.5 million tons of oil.The majority of the wells proposed by the company will be located in the luskoygan varkhine block with an investment of about $10 billion.
3. Orix, a Japanese financial services company, acquired Spanish energy company for us $965 million
Management and acek, the Spanish industrial company, bought 80% of elawan energy in a deal worth about Y100 billion (US $965 million). This is the first time that the Japanese financial group has acquired a majority stake in an overseas renewable energy company. The acquisition will expand Orix’s global renewable energy business. Founded in 2007, elawan energy develops and operates wind and solar energy projects in Europe and the Americas.
4. Nigeria natural gas processing center put into operation in Edo State
According to the daily mail on December 22, Nigerian President Buhari announced that Nigeria’s integrated natural gas processing facility (ighf) and liquefied petroleum gas storage and distribution facility were officially put into operation in OLOG, Edo.
Manso Sambo, chairman of National Natural Gas Development Corporation (NPDC), a subsidiary of Nigeria’s National Petroleum Corporation (NNPC), said at the scene that ighf will transform the waste oil associated gas into gas with utilization value, which will help to achieve the goal of natural gas supply. Now ighf has the capacity to produce 30 tons of natural gas per day, and the storage tank can store up to 42000 tons of natural gas. In the future, 330 tons of liquefied petroleum gas and 345 tons of propane will be distributed to Nepal’s domestic natural gas market.
5. Rosneft develops environmentally friendly drilling fluid production technology for Vostok oil project.
Experts from Rosneft and the University of the Siberian Federation have developed a technology for producing environmentally friendly drilling fluids based on seed oil and containing biodegradable ingredients. Drilling fluids with high environmental standards can be used to develop oil fields with fragile ecosystems in the far north, including the Vostok oil project.
6. Iraq plans to increase southern oil export capacity by 72% in three years
Karim hattab, Iraq’s deputy oil minister, said in a statement last weekend that Iraq plans to increase the capacity of its southern oil export facilities by 72% to 6 million barrels a day after 2023. To this end, Iraq will build 24 tanks with a capacity of 58000 cubic meters to help achieve this goal.
7. Russia supports continued production increase in February
After Christmas and new year’s day, OPEC will hold the latest round of crude oil production limit negotiations. On Friday local time, Russia took the lead in expressing its support for increasing production.
Post time: Dec-28-2020