1. Santos starts feed work of Dorado project in Australia
Santos, an Australian gas producer, launched the feed process of its Dorado oil project on June 29 and said the first phase of the project would cost about $2 billion.
The company said the world-class shallow water oil and gas development project in Western Australia includes 150 million barrels of oil resources (2C oil reserves), with an estimated initial total oil production of 75000 to 100000 barrels per day.
2. Opec+ data show that the oil market is still in short supply for the rest of the year
According to the data that OPEC + technical experts will assess on Tuesday, if OPEC + maintains stable production, the global oil market will still be in short supply for the rest of this year; With demand rebounding, the coalition led by Saudi Arabia and Russia is discussing the resumption of partially suspended supply in August. Its joint technical committee will assess market conditions and prepare for the July 1 ministerial meeting.
3. Russia plans to impose metal export tariffs to fight inflation
Russian Economic Minister Maxim leshenikov said last week that Russia plans to impose temporary taxes on steel, nickel, aluminum and copper exports from August 1 to this year to ease domestic inflation pressures. Previously, metal prices followed the overall rise in global commodities. Among them, Russia is expected to receive up to 110billion rubles ($1.5 billion) of tariffs from steel makers.
4. Baker Hughes invests in syngas startups
Baker Hughes will buy a 15% stake in electrochaea, a start-up focused on producing natural gas (SNG) from hydrogen and carbon dioxide. Baker Hughes said the move would enhance its broader carbon capture and use portfolio and is the latest move in the company’s energy transformation.
5. OTC announces the list of executives at the first executive dialogue meeting during the 2021 Exhibition
The organizers of the Houston oil show yesterday announced the list of senior executives attending the group meeting of this year’s opening meeting and the first series of senior executives’ dialogue meetings, including senior executives from ADNOC, shell and other companies. The meetings during the two exhibitions will discuss the role of the offshore industry in addressing global energy and sustainable development challenges and create new feasible paths to achieve the net zero goal by 2050.
In 2021, OTC will be held in NRG Park in Houston from August 16 to 19, and relevant offline activities will be carried out simultaneously.
6. Equinor’s $2.2 billion project in the North Sea was approved
Equinor’s North Sea breidablikk oilfield development and operation plan (PDO) has been approved by Norwegian authorities.
The field is estimated to produce about 200 million barrels. The oilfield investment is about NOK 18.6 billion (US $2.2 billion). Equinor said on Tuesday that production at the field is scheduled to begin in the first half of 2024.
Post time: Jun-30-2021