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1. OPEC + extended production cuts to April, and oil prices rose to their highest level since 2019 OPEC, a 23 member state organization, decided on Thursday to extend the 7.2 million barrels a day’s oil cut to the end of April, while Saudi Arabia, OPEC’s leader, said it would extend i...Read more »
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1. Baker Hughes and akastor ASA set up a global offshore drilling joint venture Baker Hughes and akastor ASA announced an agreement to form a joint venture to merge Baker Hughes’ subsea drilling systems business with akastor’s wholly-owned subsidiary mhwirth as. The joint venture will...Read more »
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1. 2021 Beijing Petroleum Exhibition postponed to June The 21st China International Petroleum and petrochemical technology and Equipment Exhibition (cippe2021), originally scheduled to be held from March 30 to April 1, 2021, will be postponed to June 8-10, 2021, and will continue to be held in Be...Read more »
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1. Crude oil futures closed at a 13 month high on Wednesday WTI futures for April delivery on the New York Mercantile Exchange rose $1.55, or 2.5%, to close at $63.22 a barrel, the highest closing price since January 6, 2020. In April, Brent crude oil futures rose $1.67, or nearly 2.6%, to close ...Read more »
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1.Saipem has reached a $1.7 billion deal with Qatar gas Saipem, an Italian oilfield service provider, has been awarded a development contract by Qatargas for the north field production sustainability offshore project, which is located offshore Qatar and is worth about $1.7 billion. 2. Premier o...Read more »
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1. Record production in VacA Muerta, Argentina In December 2020, Argentina’s VacA Muerta oil and gas field produced a record 124000 barrels per day of oil, according to a report by rystad energy, an energy consultancy. And said that if the current level of activity continues, by the end of ...Read more »
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1. US oil exports to Asia hit a record high in January U.S. oil exports at Louisiana’s offshore supertanker port jumped to a record level in January as Asian buyers hoarded U.S. crude oil in response to a rebound in fuel consumption after the pandemic. In January, crude oil exports from the...Read more »
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1. Keppel to withdraw from offshore drilling platform construction business Keppel, an oil drilling platform manufacturer, recently announced that at a time when the global oil industry is facing a major transformation, it will withdraw from the offshore drilling platform construction business af...Read more »
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1. The 10th North Africa oil exhibition will be rescheduled The 10th North Africa (Algeria) international oil exhibition, originally scheduled to be held in mid March 2021, was postponed to September 27-30 due to the latest situation of global pandemic and the attitude of being responsible for th...Read more »
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1. Iran’s $3.4 billion “largest natural gas refinery in the Middle East” completed Iranian President Mahmoud Rouhani unveiled the new Boland gas refinery on Friday. Iran’s oil minister said the completion of the refinery marked the failure of US sanctions and maximum press...Read more »
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1. Biden plans to terminate new oil and coal leases on federal land US President Joe Biden is preparing to suspend the sale of oil and gas leases on federal land and freeze coal leases to assess their environmental impact and decide whether (and how) to resell them. The move will prevent the sale...Read more »
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1. Norway grants oil and gas exploration licenses to 61 mature areas Norway has issued 61 offshore exploration licenses to 30 companies in the latest round of annual license round for oil and gas exploration in mature continental shelf areas, including 34 production licenses in the North Sea, 24 ...Read more »
