1. Petrobras’ oil production reaches a record high in 2020
Despite the global popularity of covid-19 in 2020, the oil field operated by Petrobras, the Brazilian energy giant, has set a record for crude oil production, with an average daily output of 2.3 million barrels, which is equivalent to Kuwait’s production. The increase in production has come mainly from the development of undersaline fields off the coast of Brazil, which have some of the lowest cost crude oil deposits in the world.
2. The number of active drilling rigs in US oil and gas rose for the seventh week in a row
Baker Hughes, the US energy services company, said in a closely watched report on Friday that the number of active oil and gas rigs in the US increased by 9 to 360 in the week ending January 8, the highest since May 2020.
3. Iran oil exhibition will be held from January 22th to 25th
The 25th Iran international oil, gas, refining and petrochemical exhibition will be held in Tehran permanent international Fairgrounds from January 22 to 25, 2021. With the theme of “national oil, Iranian goods and services”, the exhibition aims to introduce and show the latest achievements and future plans of Iran’s oil industry.
It is worth noting that the 25th round of Iran Petroleum Exhibition will be held under the premise of fully following the guiding principles of anti coronavirus and social distance. Previously, the exhibition was postponed several times due to the spread of covid-19.
4. Total will continue to invest in renewable energy assets in 2021
Patrick pouyanne, chief executive of total, said at the Oddo BHF meeting on Friday that total will actively increase renewable energy assets as it did last year.
Total is trying to reduce its dependence on oil and switch to electricity and renewable energy. Its goal is to increase the total renewable power generation capacity from about 9 GW to 35 GW by 2025.
5. Senegal plans to start a $4.3 billion BP Kosmos gas project in 2023
Sophie gladima, Senegalese oil minister, said that the development plan of the grand tortue ahmeyim gas field across Mauritania and the offshore of Senegal is expected to start producing the first batch of natural gas in 2023 after being delayed due to the epidemic of cowid-19.
According to the International Monetary Fund, between 2014 and 2017, Senegal discovered more than 1 billion barrels of oil and 4 trillion cubic feet of natural gas – most of which is shared with Mauritania. This makes Senegal one of the most promising emerging countries in the region.
6. Santos agreed to further drilling in the Bayu undan field
Santos, Australia, announced last week its final investment decision for the $235 million phase 3 infill drilling project in the Bayu undan oil field in the East Timor Sea. The plan includes three production wells (two platforms and one seabed), which will develop more natural gas and liquid reserves, extend oilfield life, and offshore facilities.
7. NNPC seeks $1 billion oil advance deal to revamp refinery
Nigeria’s National Petroleum Company (NNPC) has begun negotiations with trading companies to raise about $1 billion in advance to renovate its largest refinery in Port Harcourt. This will be Nigeria’s second oil support financing since the covid-19 pandemic. As the blockade weakens fuel demand, and renewable energy is replacing fossil fuels, it is more difficult to find investors.
Nigeria is the most populous country in Africa, with four refineries and a total capacity of 445000 barrels per day.
Post time: Jan-11-2021