1. The world’s largest wealth fund wants oil companies to reduce more emissions
Norway’s $1.4 trillion government Global Pension Fund (gpfg), the world’s largest sovereign wealth fund, said last week that oil companies in its portfolio need to cut emissions more sharply to achieve the net zero emission target of 2050.
Norway is one of the richest countries in Europe, thanks to the oil revenue accumulated by the world’s largest sovereign wealth fund for decades, with assets of US $1.4 trillion, and holds an average of 1.4% of the shares of all listed companies in the world, including the shares of oil giants Exxon, Chevron, shell and BP.
2. The number of oil and gas rigs in the United States increased for the third consecutive week last week
Baker Hughes, an American oil service company, said in a closely watched report on Friday that as of the week of August 20, the leading indicator of future production – the number of active oil and gas drilling rigs in the United States increased by 3 to 503, the highest level since April 2020.
The number of oil and gas drilling rigs of U.S. energy companies increased for the third consecutive week, as the rebound in oil prices prompted some drillers to return to the well platform in the past year.
3. ABB was awarded a US $120 million contract for the j-ic project
ABB recently announced that it has won an order worth about US $120 million to provide integrated power system (EPS) for jansz IO compression (j-ic) project.
4. Lukoil will build a catalytic cracking facility at perm refinery
Lukoil announced last Friday that it would start a comprehensive catalytic cracking construction project at perm refinery. The complex will include a catalytic cracking unit, a high octane gasoline component unit and infrastructure, which is planned to be put into operation in 2026..
5. The Dorado oil project in Australia is open to public supervision
The Australian offshore oil regulatory authority issued Santos’s offshore project proposal for the US $2 billion Dorado oil project in Western Australia for public comments, which will be open until October 29, 2021.
Dorado oilfield is the largest oilfield discovered in Australia since 1996.
6. India’s largest oil and gas reserves fell by 40%
Oil and gas production in Rajasthan, northwest India, has decreased by 40% in the past two years, mainly due to covid-19 and its impact on oil demand and price.
Rajasthan is home to India’s largest oil and gas reserves.
7. How many oil and gas resources are there in Kazakhstan
When introducing the current situation of Kazakhstan’s national mineral resources base last week, the Deputy Minister of ecology, geology and natural resources of Kazakhstan, serekhari brekshev, mentioned that the oil balance reserves of 317 oil fields (oil, natural gas and condensate) in Kazakhstan include 4.4 billion tons of a + B + C1 + C2 crude oil, 3.8 trillion cubic meters of natural gas and 414 million tons of condensate. Most of them are concentrated in Atyrau (75%) and mangystau (11%). 68% of the oil and gas reserves come from tengiz, Karachaganak and Kashagan oilfields.
Post time: Aug-25-2021