1. Lukoil has increased production in the imilorskoye field in western Siberia
Lukoil announced the day before yesterday that the cumulative oil production of imilorskoye oilfield has exceeded 5 million tons since its pilot commercial operation in 2014. Compared with the results in 2019, the output of the oilfield will increase by more than 20% in 2020.
At present, the oil and gas field is still in the active development and production stage, and the drilling work is still continuing. In 2020, 117 production wells will be put into operation, with an average daily output of 17 tons. At present, there are more than 300 oil wells and 29 multi well platforms in use. Since 2015, 8 new oil and gas reservoirs have been found.
2. BP announced plans for the UK’s largest blue hydrogen plant
BP announced that it is working on plans for the UK’s largest blue hydrogen production facility, with a goal of producing 1GW of hydrogen by 2030. The project will collect and store up to 2 million tons of carbon dioxide a year, equivalent to the emissions of heating one million homes in the UK.
3. Russia and gas announced a five-year strategic cooperation agreement with Royal Dutch Shell
Gazprom and Shell signed a five-year strategic cooperation agreement. The two sides will focus on energy market research, full value chain project implementation, digital technology cooperation, and reducing greenhouse gas emissions.
4. ExxonMobil submitted a proposal for a pilot hydraulic fracturing project to Colombia
ExxonMobil has submitted a proposal to conduct a hydraulic fracturing test project in Colombia to conduct hydraulic fracturing research in Vale medio del Magdalena basin, Colombia, according to Anh, Colombia’s hydrocarbon regulator. If approved, ExxonMobil will be the second company to begin fracking testing in Colombia following ecopetroleum.
5. The Canton Fair was held online for the second consecutive year
Known as the barometer and wind vane of China’s foreign trade, the Canton Fair will be held online for the second consecutive year. This year’s exhibition is scheduled for April 15-24.
6. Petrofac obtains contract renewal from Iraq
Petrofac’s engineering and production services division has signed a one-year operation and maintenance contract with a key customer in Iraq, worth about $80 million.
The contract is recognition of petrofac’s eight year successful safety delivery record as an operation and maintenance service provider. Petrofac will continue to manage the facility, one of the largest in the Gulf, which handles 55% of Iraq’s crude exports.
7. By 2050, the world needs $131 trillion in clean energy investment
The International Renewable Energy Agency (Irena) said in a report on Tuesday that if it is to achieve the 1.5 ℃ temperature control target set by the Paris Agreement, the world needs to shift energy investment to low-carbon energy, and increase these investments by 30% to $131 trillion by 2050.
8. IEA: global oil demand will not return to pre pandemic levels until 2023
The International Energy Agency (IEA) said on Wednesday that global oil demand experienced a sharp decline last year due to the cowid-19 pandemic and blockade measures, and it is expected that global oil demand will not rebound to the level of 2019 until 2023
9. The Abu Dhabi National Energy Company (taqa) is considering selling oil and gas assets and focusing on power generation
The Abu Dhabi National Energy Company (taqa) is considering the option of selling its oil and gas assets as the state-owned utility focuses more on power generation.
Taqa monopolizes the distribution of electricity and water to Abu Dhabi, the oil-rich capital of the United Arab Emirates. Abu Dhabi’s goal is to make the company a regional utility leader. Previously, taqa’s oil and gas division was built mainly through acquisitions. The company’s oil and gas business is in trouble because of the collapse in commodity prices triggered by cowid-19 last year.
Post time: Mar-21-2021