1. Keppel to withdraw from offshore drilling platform construction business
Keppel, an oil drilling platform manufacturer, recently announced that at a time when the global oil industry is facing a major transformation, it will withdraw from the offshore drilling platform construction business after completing the existing drilling platform under construction, and will carry out a comprehensive transformation of its wholly-owned subsidiary Keppel Offshore & Marine (Keppel O & M) to better meet Keppel’s vision for 2030.
2. The number of us oil and gas rigs rose for the sixth consecutive month in January
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, the leading indicator of future production, increased by 6 to 384 in the week ending January 29, the highest level since May 2020. In January, the number of active oil and gas drilling rigs in the United States increased for the sixth consecutive month, an increase of 33 over the previous month, mainly due to the rebound in oil production caused by rising oil prices.
3. Chevron seeks partial U.S. sanctions on Venezuelan oil
Chevron, the US super oil giant, is discussing with US authorities the possibility of relaxing some of the sanctions imposed on Venezuela’s oil industry.
Chevron, which has been operating in Venezuela for decades, has repeatedly been exempted from operating in the country with the world’s largest oil reserves. In November 2020, the US Treasury Department made the latest extension decision to allow Chevron to operate in Venezuela until June 3, 2021.
4. Neptune announced the start of drilling operations for the seagull project
Neptune Energy announced that its joint venture partners BP and japex have started drilling for the seagull project in the central North Sea. It is estimated that four wells will be drilled during the drilling process, and the construction period will last for 18 months. The total proven and probable reserves of the project are estimated to be 50 million BOE.
5. Novatek and Germany uniper signed an agreement to develop hydrogen business
Novatek, Russia’s leading private liquefied natural gas company, signed a memorandum of understanding with uniper on Friday to explore the development of the hydrogen supply chain.
As a clean combustion energy, hydrogen has a wide range of applications in mitigating climate change, and is considered as a new fuel that may be compatible with LNG in operation.
6. Equinor cancelled its LNG project in Tanzania
Equinor, the Norwegian national oil company, decided to write down the book value of its Tanzanian liquefied natural gas (tlng) project by US $982 million on the company’s balance sheet.
Equinor maintains an attractive portfolio of project development opportunities in the oil, gas and renewable energy sectors. This portfolio needs to be strictly prioritized to ensure that capital is allocated to projects that generate the most competitive returns.
7. EIA: global oil consumption will drop by 9% in 2020
Global consumption of oil and other liquid fuels has plummeted 9 per cent to 92.2 million barrels per day (BPD) in 2020 due to coronavirus restrictions and blockades, the US energy information agency said on Friday. This is the biggest drop in EIA statistics since 1980.
8. Petrobras and ExxonMobil get new oil discovery in Campos
Petrobras announced on Friday a new oil discovery in the subsalt basin of Campos off the coast of Brazil. Petrobras and ExxonMobil own 50% of the operating block.
Post time: Feb-02-2021