1. The United States postponed the countervailing investigation on oil pipes from South Korea and Russia
Recently, the U.S. Department of Commerce has decided to postpone the countervailing investigation on oil pipes imported from South Korea and Russia. The deadline for the investigation is extended from December 30, 2021 to March 7, 2022. The U.S. Department of Commerce has launched this investigation since October 2021, and the investigation period of the products involved is from January 1, 2020 to December 31, 2020
2. Total energy announced that it would invest billions of dollars in energy projects in Libya
European energy giant total energy recently announced that it would invest US $2 billion in Libya’s waha oil project, which will increase daily production by about 100000 barrels. It said it would also strive to increase the production of mabruk oilfield and help build a 500 MW photovoltaic power plant to supply power to the local power grid
3. BHP Billiton and Woodside reached a $12 billion Australian gas project agreement
BHP Billiton group (BPH) and Woodside, Australia’s largest natural gas exporter, approved a $12 billion Australian natural gas project Scarborough last week. The two companies also confirmed the details of the combined energy assets.
In August, BHP Billiton agreed to merge its oil and gas business with Woodside, making it one of the world’s top ten energy producers. The Melbourne based company said in a statement on Monday that the deal is expected to generate synergies of more than $400 million and is expected to be completed in the second quarter of 2022, pending shareholder approval.
4. Russia’s oil reserves are becoming increasingly difficult to recover
Russian Deputy energy minister Pavel Sorokin said last Wednesday that unless Russia accelerates and encourages exploration, almost all Russian oil production will consist of so-called difficult to exploit crude oil reserves.
GlobalData, a data and analysis company, said earlier this month that Russian oil and gas discoveries fell to their lowest level in five years in the first half of 2021 after last year’s crisis led to a sharp reduction in exploration capital expenditure.
5. Steel giant ThyssenKrupp new energy will go public alone
Martina Mertz, CEO of German steel giant ThyssenKrupp, said on the 18th that the company’s new energy subsidiary wood chlorine engineering company is developing well and will be listed in the spring of 2022 in order to expand its business. The market value is expected to reach 5 billion euros. The company is headquartered in Dortmund and has factories in many parts of the world, including Shanghai. Before, it mainly produced chlor alkali electrolyzer, which decomposes brine molecules into chlorine, hydrogen and caustic soda.
Post time: Dec-02-2021