1. Last week, the number of oil and gas drilling rigs in the United States recorded the largest weekly increase since April last year
Baker Hughes, a US oil service company, released a high-profile report on Friday that, motivated by the rise in oil prices, as of the week of January 14, the number of active oil and gas drilling rigs in the United States, an initial indicator of future output, increased by 13 to 601, the largest weekly increase since April 2020.
The number of drilling rigs has risen slowly for a record 17 months, but U.S. oil production still declined in 2021 because many energy companies are more concerned with improving investor returns than increasing production.
2. Reliance Industries will invest $76 billion in renewable energy in India
On Thursday, Reliance Industries, controlled by Mukesh Ambani, Asia’s richest man, announced that the group plans to invest $76 billion in green energy and hydrogen projects in India in the next 15 years.
Reliance Industries is the most valuable company in India, with diversified business, including oil refining. Reliance Industries has the largest oil refinery in India and Jamnagar, the world’s largest oil refining hub. The refinery has a crude oil processing capacity of 1.24 million barrels per day, and reliance industries also invests in oil exploration and production, petrochemical, textile, telecommunications and retail.
3. ExxonMobil seeks to sell Canadian shale assets
In a statement last Wednesday, Imperial Oil said that ExxonMobil and its holding subsidiary Imperial Oil Ltd. will start selling XTO energy Canada, which produces 9000 barrels of crude oil and 140 million cubic feet of natural gas per day in montney and Duvernay shale and other areas in Alberta.
Since the strategic restart in 2020, ExxonMobil has given priority to key projects in Guyana and the Permian Basin of the United States, as well as oil refining and chemical construction.
4. Statoil has significantly written down the oil and gas reserves of mariner oilfield in the North Sea of the UK
The Norwegian national oil company (equinor) said in a statement last Wednesday that the company significantly reduced its reserve expectation in the mariner oilfield in the UK North Sea, and the recoverable reserves were reduced to about 180 million barrels from the previously estimated 275 million barrels, resulting in an impairment of its assets of about $1.8 billion.
The mariner oilfield, which was put into operation in 2019, is located on the East Shetland platform in the North Sea of the UK, about 150 km (93 miles) east of Shetland. Equinor is the operator and holds about 65% of the shares
Post time: Jan-18-2022