1. ExxonMobil is considering a sale of its stake in West gurna 1
Exxon Mobil is in talks with Iraq’s oil ministry to sell its stake in Iraq’s West qurnah-1 oil field, indicating that the super giant is willing to sell a large oil field in the Middle East to reduce the huge debt accumulated last year.
West qurna1 oilfield is one of more than ten super large oilfields in the world, with an estimated recoverable reserves of more than 20 billion barrels. But continued investment is still needed to bring the oil to market. It is reported that from 2021 to 2025, ExxonMobil’s annual capital expenditure will be US $20 billion to US $25 billion, lower than the initial budget of US $30 billion to US $35 billion. And ExxonMobil said it would focus on core projects in Guyana and the Permian Basin. This could lead to a decline in the priority of West qurna-1′s limited funds available for new development projects.
2. Guyana’s future oil production is estimated at 1 million barrels per day
Guyana’s natural resources minister vickram Bharrat said on Tuesday that the country’s oil production will reach 1 million barrels per day by 2027.
Guyana is the latest oil hotspot in the world, and up to 10 evaluation and exploration wells will be drilled this year. Since 2019, ExxonMobil and its partners have discovered more than a dozen high-quality oil fields in Guyana’s prolific Stabroek block. The block is believed to contain more than 8 billion barrels of recoverable oil resources.
3. “Deep blue exploration” has become the world’s first marine platform to obtain DNV intelligent classification symbol
“Deep blue exploration”, a mid deep water semi submersible drilling platform manufactured by China Merchants Industry, was awarded DNV’s first smart classification symbol in the world.
DNV’s voluntary intelligent ship marking system provides a framework for assessing and visualizing digital ship features and shows that ships are using improved technologies to improve operations, efficiency and reduce environmental impacts, DNV explained in a statement on Thursday.
4. Iraq plans to increase oil production to 8 million barrels a day by 2029
Iraq’s oil minister, IHSAN Abdul Jabbar, said the country plans to increase its oil production capacity from 4.8 million B / D to 8 million B / D by 2029. The incremental production will be achieved through the country’s existing major oilfields, including Majnoon, Zubair and Rumaila oilfields. Together, these fields are capable of doubling production. In addition, Iraq plans to increase refinery capacity to stop the demand for imported fuel.
5. Shell puts energy transformation plan to shareholders’ vote
Oil giant shell will submit its energy transformation strategy to a non binding shareholder vote at its annual general meeting next month, which will be the first time that an energy company has sought approval from an advisory body for its plan to achieve net zero.
6. Tenaris USA will add nearly 1000 employees
Tenaris is pushing ahead with plans to increase its operations across the United States, bringing its facilities back online in the northeast. As the company continues to expand, Tenaris is trying to increase its U.S. workforce by about 1000.
7. Santos will drill up to 12 wells in the Bedout basin
Santos, Australia’s energy giant, has submitted an environmental plan to nopsema, its regulator, to drill 12 wells in the Bedout basin off the coast of Australia.
8. OPEC raises global oil demand forecast
OPEC released 13 monthly oil market report, this year’s global oil demand is expected to increase by 100 thousand barrels per day compared to March, COVID-19′s progress in prevention and control and multinational economic stimulus is driving the world economy continues to recover. According to the report, global oil demand will reach 96.5 million barrels per day in 2021, an increase of 6 million barrels per day compared with last year. In the second half of this year, the recovery momentum of the world economy is expected to be stronger, which will boost oil demand.
9. Petronas awarded Welltec well intervention contract
Petronas has awarded Welltec a three-year contract for well intervention in Malaysia. The agreement, which came into effect on April 1, designates Welltec Petronas as the sole supplier of underground transportation tools and power machinery services in eastern and western Malaysia.
Post time: Apr-16-2021