1. U.S. oil and gas rig count increased in 11th week
Last weekend, US energy increased the number of oil and gas rigs for the 11th time in 12 weeks. Data released by Baker Hughes showed that the total number of oil drilling rigs increased by 5 to 246 in the week ending December 4, in line with previous expectations, setting a new high since mid May; the total number of natural gas drilling rigs decreased by 2 to 75 in the week; and the total number of oil and gas rigs increased by 3 to 323. After the U.S. drilling rig data was released, the short-term fluctuation of us and Burmese oil was small
2.In the third quarter of 2020, The total amount of mergers and acquisitions in the US oil and gas industry reached 54.76 billion US dollars
According to global data’s transaction database, the U.S. announced a total of US $54.76 billion of mergers and acquisitions in the oil and gas industry in the third quarter of 2020. This figure was 674.5% higher than the previous quarter, 169.8% higher than the average level of $20.3 billion in the previous four quarters, and accounted for 46.4% of the global oil and gas industry’s total M & A transactions (US $117.93 billion) in the third quarter of the world.
3. After the OPEC + agreement, Saudi Arabia raised the price of Asian oil
Saudi Arabia raised oil prices to customers in Asia’s main markets in January after crude oil prices rose to an eight month high last week due to optimism over the covid-19 vaccine and a new OPEC + agreement. This is the biggest increase in five months, indicating that the world’s largest oil exporter is confident in global energy demand, enough to absorb a small increase in OPEC production next month.
4. Libya’s oil revenue rose 204% in November from a month earlier
Libya’s national oil company (NOC) announced on Saturday that Libya’s crude oil, gas and condensate export revenues totaled $704 million in November, up 204% from October, saying it reflected the rapid recovery of the industry. Libya’s oil exports, which were suspended for about nine months, did not recover until September, reaching an average production of 1.25 million barrels a day for a record time.
5. The EU’s largest oil producer will close its North sea operations by 2050
Denmark, the EU’s largest oil producer, will stop providing new production licenses to the North Sea, while the terms and conditions for oil and gas companies currently operating in Danish waters will remain unchanged until 2050. Its climate and energy minister said “this is a historic step towards a fossil fuel free future”. Denmark is currently the largest oil producer in the EU, although its production is far lower than that of non EU member countries Norway and the UK. According to an analysis by oil giant BP, the country produced 103000 barrels a day in 2019, and its territory has 55 drilling platforms spanning 20 oil and gas fields.
6. Total is seeking to sell its stake in the Kurdistan oil field
Total is in talks with Jefferies group on the possibility of selling its 18 per cent stake in the sarsang exploration block in northern Kurdistan and could raise about $500 million. Total is seeking to divest assets in response to this year’s low oil prices and prepare for the future of low-carbon energy.
Post time: Dec-07-2020