1. Greek steel pipe manufacturer Wins Bid for major offshore pipeline project in eastern Mediterranean region
A few days ago, Corinth pipeworks (CPW), a Greek steel pipe manufacturer, signed an agreement to produce and supply steel pipes for Israel natural gas pipeline company (ingl) for offshore high-pressure natural gas pipelines between Ashdod and Ashkelon. The contract covers about 50 km of 36 inch LSAW pipeline, including anti-corrosion coating and concrete counterweight coating.
2. ExxonMobil proposes $100 billion carbon storage project
ExxonMobil announced an ambitious carbon capture and storage project (Houston Ship Channel CCS). The project will collect global warming carbon dioxide from us petrochemical plants and bury it in a reservoir under the Gulf of Mexico. It requires a huge investment of up to $100 billion and is expected to remove 100 million tons of carbon dioxide per year by 2040.
3. World Bank: energy prices are expected to rise by more than one third on average this year
World Bank: it is estimated that energy prices will rise by more than one-third on average this year compared with 2020, and the average price of oil will be US $56 / barrel; metal prices are expected to rise by 30% compared with 2020; after the recovery in the first quarter, global commodity prices are expected to remain firm near the current level in 2021.
4. Technipfmc wins Petrobras undersea engineering contract
Petrobras has awarded an undersea contract to provide services to Petrobras’ marlim and voador fields off the Brazilian coast, technipfmc reported on Wednesday.
Under the contract, technipfmc will provide up to eight manifolds for production and injection using all electric robotic valve controller (RVC) technology, technipfmc said. The company explains that the RVC replaces traditional subsea hydraulic systems and thousands of mechanical components, while providing real-time data and analysis of system performance.
5. Abu Dhabi is considering selling $4 billion of taqa shares
The Abu Dhabi authorities are considering selling about 10% of the shares of the Abu Dhabi National Energy Corporation (taqa) in order to seek more international investment in its major assets. Its shares could be worth more than $4 billion at current market values.
As a state-owned utility company, taqa’s plan to reduce investment in oil and gas assets and focus on renewable energy may attract investors. The company hopes to increase its share of solar and wind power to 30% over the next decade. Taqa already has one of the world’s largest solar power plants in Abu Dhabi and is building a bigger one.
6. Equinor found oil in Norwegian waters
Equinor and its partners total, V å R energi as has discovered oil and gas resources in a new block of tyrihans oilfield, Norway. According to equinor, recoverable resources are currently estimated to be between 19 million and 26 million barrels of oil equivalent, and immediate production is planned. Last month equinor announced that it and its partners had made the biggest discovery of the year on the Norwegian continental shelf.
7. Halliburton, Baker, Hughes first quarter earnings exceeded expectations
Baker Hughes and Halliburton, US oilfield services companies, said on April 21 that the first quarter earnings exceeded Wall Street’s expectations, showing signs of recovery in the North American oil market.
Baker Hughes data showed that as oil prices rebounded from a wide range of low points, the company’s performance improved. Brent crude oil futures trading price was close to US $65 per barrel, and the number of global drilling rigs increased by about 11.5% to 1231.
Post time: Apr-22-2021