1. Qatar promotes $29 billion LNG expansion project to increase fuel exports
Qatar is currently reducing the export price of liquefied natural gas and promoting a $29 billion expansion project to increase its fuel exports by more than 50%. In addition, according to people familiar with the matter, Qatar has set up a trading team to join the competition in emerging spot markets and more actively enter the Asian market.
In the past five years, Qatar has hardly increased its output, and the traditional price of exported fuel is higher than that of the market. However, with the gradual recovery of the global economy and intensified market competition, especially from Australia and the United States, Qatar began to adopt a more flexible strategy and turned to the Asian market with a huge demand for natural gas.
2. ExxonMobil made its first profit in five quarters
On Friday, ExxonMobil Corp. reported quarterly earnings that beat Wall Street’s expectations, driven by higher oil prices and strong chemical profits, the first in five quarters.
3. Seadrill won more than $400 million in contracts in the first quarter
Seadrill limited, an offshore drilling contractor, won more than $400 million in new contracts in the first quarter of 2021, bringing the company’s total outstanding orders to $2.1 billion.
4. Wintershall DEA has found oil and gas off the coast of Norway
On May 20, winterhill DEA, an independent European oil and gas company, said that natural gas, condensate and oil were found in the devoin North exploration area of Norway sea, with an estimated reserve of 33 to 70 million barrels of oil equivalent.
With the discovery of Maria, dvalin and dvalin north, the haltenbanken area has become the strategic core area of winterhill DEA. The next step will be to transform these findings into production fields. It is reported that winterhill is the block operator, holding 55 percent of the shares. Its partners are petro and sval energy.
5. Oasis oil will sell Permian Basin assets for $481 million
Oasis petroleum, the US shale oil producer, agreed to sell its entire Permian Basin assets to an unnamed buyer for $481 million as it chose to focus on its Williston Basin assets.
6. Shell to sell equity in SPEX for $460 million
Recently, shell oil company signed an agreement with malampaya energy XP Pte Ltd (a subsidiary of udenna company) to sell 100% of SPEX to the latter.
The basic price of the sale is US $380 million, with additional payments up to US $80 million between 2022 and 2024, depending on asset performance and commodity prices. Shell said the deal was “consistent with the company’s goal of shifting its focus to nine core businesses”.
7. Iranian President: Western countries agree to lift sanctions on Iran’s oil, central bank and other key areas
Iranian President Hassan Rouhani announced on May 20 that “Iran has reached a purchase agreement on the main buyers of current international transactions.” Several western countries have agreed to lift major sanctions against Iran, including oil, petrochemicals, transportation, insurance and the central bank.
Post time: May-21-2021