1. Shell sells desert assets in Western Egypt to Cheiron petroleum and Cairn energy
Recently, shell Egypt and its subsidiaries signed an agreement with a consortium composed of Cheiron Petroleum Corporation and Cairn energy PLC, which will purchase shell’s upstream assets in the western desert of Egypt at a price of US $646 million, and pay an additional US $280 million between 2021 and 2024 based on the oil price and the results of further exploration.
The assets package includes shell Egypt’s interests in 13 onshore oilfields and its stake in Badr El DIN oil company (bapetco). After the deal, shell will focus on offshore exploration in Egypt, including seven new blocks in the Nile Delta, western Mediterranean and red sea.
2. Kazakhstan will build a new gas plant in Kashagan this year
Nurlan nogayev, Kazakhstan’s energy minister, said at a recent meeting of the board of directors of the Ministry of energy in Kazakhstan that a natural gas plant is planned to be built in Kashagan oilfield this year, with an annual capacity of 1.15 trillion cubic meters and an estimated value of 860 million US dollars.
3. Canada’s secure energy services company will buy tervita for millions of dollars
Canada’s secure energy services company said on March 9 that it would acquire waste management services company tervita Corp. in a full stock deal with a total value of C $478 million (US $379.5 million), the latest integration of the country’s oil industry. The deal valued the combined company at about C $2.3 billion, as oil and gas companies seek to profit from the recent rise in crude oil prices while keeping costs under strict control.
4. Santos, Australia is preparing for massive offshore exploration
Santos, an Australian oil and gas producer, is preparing to start a large-scale multi well shallow water offshore drilling program in Australia and East Timor, including up to five exploration targets and three production wells.
5. U.S. oil production in 2020 is the biggest decline in history
U.S. crude oil production fell nearly 1 million barrels per day last year, the largest annual decline in history, due to low oil prices and a sharp decline in drilling activities, the energy information administration said on Tuesday.
In 2020, US crude oil production averaged 11.3 million barrels per day, down by 935000 barrels per day or 8% compared with the record 12.2 million barrels per day in 2019.
6. South Africa to set up a new national oil company
South Africa’s Ministry of mineral resources and energy (dmre) announced that it has merged the central Energy Fund (CEF) subsidiaries iGAS, petrosa and strategic fuel Fund (SFF) with effect from April 1, 2021. The new company will be known as South African national oil company.
7. Gazprom claims to deliver carbon neutral liquefied natural gas to Europe for the first time
Gazprom, the Russian gas giant, said on Monday it had delivered its first carbon neutral liquefied natural gas (LNG) in Europe and shipped the fuel to shell in the UK.
8. Japan shuangri will withdraw from coal and oil projects by 2030
Shuangri Co., Ltd., a Japanese trading company, recently announced a goal to reduce its equity in thermal coal projects by more than half by 2025 and to zero by 2030. At the same time, by 2030, the company will achieve the goal of completely withdrawing from the oil business, and by 2050, it will completely withdraw from the coking coal project. As part of a new sustainable development strategy.
Post time: Mar-10-2021