1.The United States ordered a review of drilling activities in the Alaska Wildlife Reserve
The U.S. Department of the interior said on August 3 that it would launch a new environmental review of oil and gas leasing in Alaska Wildlife Reserve, which may determine the fate of the drilling license issued by the trump administration in the last few days of office.
2.Analysts expect production in the Permian Basin to fully recover by 2022
GlobalData, the world’s leading data and analysis company, said that as the market recovers from the epidemic, the production of crude oil and natural gas in the Permian Basin, the largest oil producing area in the United States, may exceed the level before the epidemic by 2022.
According to the latest report of GlobalData, Permian Basin 2021 – oil shale market analysis and 2025 outlook, the current oil production of Permian Basin is about 4.6 million barrels / day, and it is expected that the crude oil production will exceed 4.9 million barrels / day by the middle of 2022. It exceeds the production of 4.8 million barrels per day before the pandemic in February 2020.
3.Hollyfrontier will acquire Sinclair oil assets for $2.6 billion
On August 3, hollyfrontier and its subsidiaries agreed to acquire most of the refining, pipeline and storage assets of Sinclair oil in two transactions of about US $2.6 billion. The acquisition excludes Sinclair’s exploration and production business. After the acquisition, the new company HF Sinclair Corp. will replace hollyfrontier and become a listed company on the New York Stock Exchange, with some equity held by the shareholders of Sinclair company.
4.Western oil turned loss into profit in the second quarter
Western oil company reported on August 3 that the adjusted profit in the second quarter was not a continuous loss, because the relaxation of tourism restrictions and covid-19 vaccination increased fuel demand, leading to the rise of crude oil prices. The oil and gas producer said on August 3 that its common stock adjusted attributable profit for the three months ended June 30 was $311 million, or 32 cents per share.
5.Western oil turned loss into profit in the second quarter
Western oil company reported on August 3 that the adjusted profit in the second quarter was not a continuous loss, because the relaxation of tourism restrictions and covid-19 vaccination increased fuel demand, leading to the rise of crude oil prices. The oil and gas producer said on August 3 that its common stock adjusted attributable profit for the three months ended June 30 was $311 million, or 32 cents per share.
6.Australia’s second and third largest oil and gas companies will merge
Santos, Australia’s second-largest oil and gas producer, decided on Monday to acquire oil search Ltd., Australia’s third-largest oil and gas company. The combined entity market value will reach about US $16 billion, comparable to Woodside petroleum Ltd., becoming Australia’s largest independent liquefied natural gas producer and creating a top 20 oil and gas company in the world.
The move may mark the beginning of a wave of mergers and acquisitions in Australia’s oil and gas industry. BHP Billiton was previously reported to be considering selling petrochemical fuel assets.
7.Turkey launched the first sunset anti-dumping review investigation on seamless steel pipes to China
Recently, the Turkish Ministry of Trade issued announcement No. 2021 / 40 to initiate the first sunset anti-dumping review investigation on seamless steel pipes originating in China at the application of Turkish manufacturers. The products involved do not include cast iron steel pipes. This case involves products under Turkish tax No. 73.04.
8.Qatar’s huge offshore oil field has won two new agreements
Recently, Northern Petroleum Corporation (NOC), the operator of Al Shaheen offshore oil field in Qatar, has awarded the contract for the third phase of the gallaf project to Vietnam technical service company (PTSC) and Rosetti Marino of Italy for the further development of the oil field.
Northern oil company is a joint venture between the state-owned Qatar oil company and French giant total. The gallaf project belongs to the Al Shaheen oilfield and is located near the coast of Qatar. Al Shaheen is the largest offshore oil field in Qatar and one of the largest offshore oil fields in the world.
9.Eni discovered deepwater oil off the coast of Mexico
On August 2, Eni group of Italy announced the discovery of oil in the upper Miocene sequence of sayulita exploration area off the coast of Mexico. According to preliminary estimation, the newly discovered block is located in 10 blocks in the middle and deep water area of sureste basin, with reserves of 150 ~ 200 million barrels of oil equivalent.
Eni group holds 65% of the shares of the block and is the operator of the block. Partners include Luke oil (20%) and Capricorn, a wholly-owned subsidiary of Cairn energy (15%).
Post time: Aug-05-2021