1. The 2022 Iran Oil Show opened in Tehran last week
The 26th Iran Oil show in 2022 opened in Tehran last Friday (May 13). 1200 Iranian enterprises and 44 foreign enterprises or their agents from 11 countries such as Italy, Spain, the United Arab Emirates, South Korea, Switzerland, Germany, Ukraine, South Africa, Belgium and China participated in the exhibition. Iranian oil minister Javad owji and speaker of Parliament Mohammad Bagheri Ghalibaf attended.
A senior official in Tehran said Iran provided an opportunity for participants to invest $160 billion in the upstream sector of the country’s oil industry. Mohsen khojasteh Mehr, CEO of Iran national oil company, said that during the four-day exhibition, Iran national oil company will hold multiple rounds of negotiations with participating companies.
Once a year, Iran Petroleum Exhibition is the largest oil, gas and petrochemical exhibition in Iran and influential in the Middle East. It is also one of the most important oil and gas exhibitions in the world.
2. Petrobras terminates the asset sale procedure of Sergipe Alagoas Basin
Petrobras has decided to terminate the sale of four concessions located in the deep water area of the Sergipe Alagoas basin. The company reiterated its focus on deepwater and ultra deepwater assets and noted that the end of the sale process marked the beginning of the development of a new deepwater frontier in the basin.
Petrobras recently announced that it plans to invest US $5.5 billion in oil and gas exploration activities in the next five years and develop new oil fields in Brazil. The company also plans to operate 15 floating production storage and offloading units (FPSOs) over the next five years. Among them, 10 FPSOs are planned to be installed in the sub salt oil field and 5 in the upper salt area.
3. Texas saw a significant increase in drilling permits and completion in April
The number of original drilling permits issued by the Texas railway Commission in April 2022 increased by 29% to 946, compared with 732 in the same period last year. The total permits for April 2022 include 836 permits to drill new oil and gas wells, 12 permits to re-enter blocked wells and 92 permits to re complete existing wells.
In April 2022, the well types of original drilling licenses were subdivided into 223 oil, 74 natural gas, 593 oil or gas, 46 injection and 10 other licenses.
4. Biden authorities canceled the auction of oil and gas drilling leases in the Gulf of Mexico and off the coast of Alaska
The U.S. Department of the interior announced last week that it would stop three oil and gas lease sales plans in the Gulf of Mexico and cook Bay, Alaska. This has deepened the uncertainty about the future of the US offshore oil leasing plan. The already tense relationship between the US authorities and the oil industry has intensified at a time of high gasoline prices.
Post time: May-17-2022