1. Eni group plans to invest 7 billion US dollars in Angola in the next four years
Eni, the Italian energy group, plans to invest about $7 billion in Angola over the next four years with partners in exploration, production, refining and solar energy in the country, which the Group believes is the key to its future growth strategy.
2. UAE oil giant hopes to list drilling business in local IPO
Abu Dhabi National Oil Company (ADNOC) is in talks with banks about the possibility of listing its oil drilling unit on the local stock exchange.
ADNOC drilling is the largest drilling company in the Middle East, operating 63 onshore drilling platforms, 20 offshore jack up drilling platforms and 11 artificial island drilling platforms.
In recent years, ADNOC has realized part of its assets and resources by listing its distribution business, selling its minority stake in its pipeline business, and establishing joint ventures upstream and downstream.
3. OQ, Oman’s state-owned oil company, considers IPO
Oman is looking for several options to fill its budget gap, such as selling shares or subsidiaries of the state-owned energy company OQ.
OQ, Oman’s state-owned energy company, is a global integrated energy group with a total revenue of nearly $20 billion in 2019. By the end of 2019, its comprehensive assets are close to $30 billion. OQ operates in 13 different countries and is involved in oil exploration and production, as well as fuels and petrochemicals. At present, the company is wholly owned by Oman authority company.
4. In the first quarter of 2021, the total amount of mergers and acquisitions in the U.S. oil and gas industry reached $3.4 billion
In the first quarter of this year, mergers and acquisitions in the upstream sector of the U.S. oil and gas industry totaled $3.4 billion, according to energy consulting firm Everus. That’s much lower than the $27.8 billion turnover in the fourth quarter of 2020, but much higher than the $600 million turnover in the same period last year.
5. Hess and enerplus reach a $312 million agreement
Hess signed an agreement to sell its interest in little knit and Murphy Creek in Bakan, North Dakota, to enerplus for a total price of $312million.
6. Bahrain will start drilling offshore shale fields by the end of 2022
The oil minister of Bahrain said recently that the first production well of offshore shale oil newly discovered in Bahrain is expected to start drilling at the end of 2022.
In 2018, Bahrain announced the discovery of the Khaleej al Bahrain oilfield, the largest oil and gas discovery since 1932, on the west coast of Bahrain, which is estimated to contain at least 80 billion barrels of tight (shale) oil. The country has been seeking foreign investment to help develop the oilfield.
7. Biden’s tax proposal aims to eliminate subsidies for fossil fuel companies
The US Treasury Department said in its report “US manufacturing tax plan” this week that in the US President Biden’s US $2 trillion infrastructure and tax plan, it proposes to abolish tax incentives and implicit subsidies for fossil fuels and replace them with incentives for clean energy production, which will increase more than US $35 billion in government revenue in the next 10 years.
Post time: Apr-09-2021