1.Iraq’s oil minister expects oil prices to exceed $50 in early 2021
Iraq’s oil minister, IHSAN Abdul Jabbar ismaael, said over the weekend that oil prices would exceed $50 a barrel early next year due to the OPEC + production agreement, although the pandemic still fluctuated oil prices.
2.Iran sees the change of US president as an opportunity to increase crude oil exports
ranian President Rohani said he had asked Iran’s oil ministry to take all necessary measures “to be ready to increase crude oil production and exports in the next three months. Rouhani said Iran exported more than 2 million barrels of crude oil a day before U.S. President trump withdrew from the comprehensive agreement on the Iranian nuclear issue. It is reported that Iran’s daily crude oil export reached 2.8 million barrels in 2018, but now it is less than 300000 barrels. U.S. President elect Biden said during his campaign that he would return to the Iran nuclear agreement.
3.Petrobras approved the tender for the urucu field
Petrobras said its board of directors had approved a binding offer for the Amazon state’s urucu oil and gas cluster. Petrobras sold the urucu field in June as part of a massive divestment plan to raise funds to repay debt and invest in deep-water project.
4.Superior energy will conduct a $1.3 billion debt swap under Chapter 11 of the U.S. bankruptcy code
Superior energy services, a Houston based oilfield services company, has agreed on a restructuring plan with about 85 per cent of senior unsecured bonds. The restructuring plan will eliminate all financing debt and related interest costs, the company said.
5.Superior announced a restructuring agreement with the drilling company in September to provide related services after the completion of the well
Under the plan, holders of notes will receive 100% of the issued and outstanding equity interests of the restructured company in exchange for repayment of the unsecured claims arising from the $1.3 billion preferred notes
6.Equinor joined shell’s largest green hydrogen project in Europe
Royal shell (shell) and Royal Dutch oil company (shell) have joined the Royal Dutch oil and gas company (shell) in the early stage of the hydrogen production project, which will be led by Royal Dutch oil company (shell) and Royal Dutch oil company (Royal Dutch)
7.Tullow’s license extension in Kenya
Tullow oil announced that its exploration license for 10bb and 13T blocks in Kenya will be extended to the end of 2021. This will enable it to reassess the project oil Kenya and design an economic project at low oil prices, while retaining the concept of phased development.
Post time: Dec-08-2020