1. Saudi Aramco raises official oil prices sharply
Saudi Aramco announced that it would increase the Asian customer price of Arab light crude oil by US $1.40-2.70 per barrel in December.
Earlier, OPEC + led by Saudi Arabia and Russia ignored the appeal of US President Biden to accelerate the pace of production increase and adhered to the established plan of increasing daily production by 400000 barrels next month. Analysts expect that after OPEC + makes the above decision, the oil market will still be in short supply for the rest of this year. According to statistics, more than 60% of Saudi Arabia’s crude oil exports are sold to Asia, and South Korea, Japan and India are the largest buyers.
2. Baker Hughes: the number of oil rigs in the United States has increased the most since October 15
Baker Hughes, an American oil service company, reported on Friday that the number of oil rigs in the United States last week had the largest increase since October 15. As of November 5, the number of active oil rigs increased by 6 to 450. As a result, the total number of active drilling rigs in the United States, including natural gas drilling rigs, reached 550, an increase of 250 (83%) compared with the same period last year.
3. Southwest energy acquired GEP Haynesville for us $1.8 billion
Southwest Energy announced last week that it had reached a final agreement with GEP Haynesville, LLC, the third largest private producer of Haynesville, which will acquire GEP for about US $1.85 billion. The transaction is expected to be completed by the end of 2021. This strategic move has made southwestern the largest natural gas producer in the Haynesville region and strengthened its leading position in the two major natural gas basins in the United States.
4. Dominion energy submitted a $10 billion offshore wind power project plan for the Virginia coast
Dominion energy submitted a plan to the Virginia Company Committee on November 5 to approve the construction of a 2.6 GW commercial Virginia coastal offshore wind power (cvow) project. The project will generate enough clean energy to power up to 660000 households.
5. Cairn energy completed the sale of interests in two oil fields in the UK for us $455 million
Cairn, the British oil and gas company, has sold its interests in the catcher and Kraken oil fields in the UK North Sea to Waldorf production company.
The proposed sale and acquisition transaction was first announced in March this year. Cairn Energy announced the completion of the transaction last Wednesday after it was approved by the general meeting of shareholders held on October 28, 2021.
6. Pioneer Natural Resources announced a $3.25 billion agreement to sell Permian assets
Pioneer Natural Resources announced last week that it had reached a final agreement with Continental resources to sell all its assets in the Delaware basin with a cash income of $3.25 billion.
Pioneer natural resources pointed out that the assets divested under the agreement include 92000 net acres (372 square kilometers), and the net production is about 50000 barrels of oil equivalent / day.
Post time: Nov-16-2021