1. The 23rd World Petroleum Congress opened in Houston last week
The 23rd World Petroleum Congress (WPC) was held in Houston on last Monday. More than 5000 participants from more than 70 countries visit Houston, the world’s energy capital.
However, due to travel restrictions caused by Omicron, the agenda of this oil conference was disrupted and the number of participants from overseas decreased. The energy ministers of eight countries, including Saudi Arabia, have withdrawn from the scene. The chief executives of BP, Qatar energy and Algeria Sonatrach will not attend the meeting.
The meeting lasted until December 9, focusing on the role of low-carbon technology and energy transformation.
2. Centrica will sell spirit energy’s Norwegian assets for $1.1 billion
Centrica, a British energy supplier, said on December 8 that the company and its partner, stadtwerke Munchen, a German utility company, agreed to sell its oil and gas assets in Norway for $1.1 billion. The buyers are sval energi, a subsidiary of hitecvision, a Norwegian private equity firm, and equinor, a state-controlled oil and gas company.
The deal includes 45 licenses – six of which are already in operation, including seven production fields – two are already in operation, and several development and exploration opportunities. The three main assets in the portfolio sold are nova, kvitebj ø RN and Ivar Aasen.
3. Mubadala acquires Sibur 1.1, Russia’s largest petrochemical company 9% equity
UAE sovereign wealth fund Mubadala this week acquired a 1.9% stake in Sibur, Russia’s largest integrated petrochemical company, for an unknown amount. Mubadala said that this is its largest investment since entering the Russian market in 2010.
4. ExxonMobil is committed to eliminating some carbon emissions from the Permian Basin by 2030
Exxon Mobil Corp., the largest U.S. crude oil exploration company, announced on Monday that air pollution from oil wells, processing plants and other infrastructure in the Permian Basin will reach net zero by the end of 2030, the so-called scopes 1 and 2 emissions.
According to the statement, the company plans to reduce emissions in the Permian Basin by using low-carbon energy, reducing natural gas combustion and increasing the detection of methane leakage. ExxonMobil also plans to use emission compensation.
Post time: Dec-13-2021