Energy News Press Release to 25 Mar. 2022. OPEC daily basket price stood at $118.72/bl, Thu. 24th Mar. 2022
Oil Prices up across the board on Wednesday following reports that crude exports from Kazakhstan’s Caspian Pipeline Consortium (CPC) terminal had completely halted following storm damage amongst other global issues.
According to GlobalData’s latest report, Annual Global Oil & Gas Industry Contracts Review – 2021, the number of contracts increased from 5,750 in 2020 to 6,263 in 2021 and the disclosed contract value also showed a substantial increase from US$115.42bn in 2020 to US$174.21bn in 2021. Other notable contracts include Yinson Holdings’ subsidiaries two contracts with Petrobras for the charter, and operation and maintenance services for the Integrado Parque das Baleias (IPB) Floating, Production, Storage, and Offloading (FPSO) vessel operating in the North Campos Basin, offshore Brazil, BW ‘s 15-year contract worth US$4.6 billion from Santos for EPCI, lease and operation of Barossa FPSO offshore Darwin in Australia, and ADNOC Drilling’s five-year drilling services agreement worth $3.8 billion with ADNOC Onshore for the provision of drilling, workover, and other well services in United Arab Emirates. Read More
GlobalData’s report, ‘Global Capacity and Capital Expenditure Outlook for Gas Processing Plants, 2022–2026’ reveals that the US is expected to witness planned gas processing capacity additions of 3.8 billion cubic feet per day (bcfd) and an announced gas processing capacity additions of 5 bcfd by 2026.The US is expected to lead North America’s planned and announced gas processing capacity additions between 2022 and 2026, contributing around 65% of the region’s total gas processing additions by 2026 Read More
The Offshore Technology Conference (OTC) recently announced that the ReSOLVE iX extreme-performance instrumented wireline intervention service and Autonomous Directional Drilling have each won an OTC 2022 Spotlight on New Technology® Award. The annual awards program recognizes companies that are revolutionizing the future of offshore energy through technological advancement and innovation. The ReSOLVE iX service leverages intelligent downhole technologies to optimize results in extreme conditions, such as HPHT, sour, and restricted-access environments. The combination of innovative hardware, automation, and digitization enables operators to monitor and control intervention in real time and take immediate action to address downhole challenges. Read More
Rightcharge, has partnered with UK franchise car dealership group Perrys to help further accelerate the adoption of electric vehicles in Britain. The agreement will see Rightcharge become Perrys recommended partner to help its customers find the best possible deals on home chargers and energy tariffs most suited to their individual needs. It means that Perrys’ customers can access a wide range of home charge points, get an instant recommendation based on their requirements and benefit from shorter installation times thanks to Rightcharge’s network of over 70 handpicked UK installation companies.
The EV market is booming in the UK with more Brits buying an EV last year than in the previous five years combined, according to the Society of Motor Manufacturers and Traders (SMMT). Read More
In a new research request for advanced batteries, the Consortium for Battery Innovation (CBI) has launched a call for proposals focused on innovative applications of the technology.
Targeting markets such as electric vehicles (EVs), energy storage systems (ESS) and motive power applications, CBI’s new RFP has identified key areas for growth opportunities for the advanced lead battery market.
Calling on the industry to submit research proposals to enhance batteries in critical ways such as cycle life, service life, charge efficiency and operational cost, the RFP will guide CBI’s new Technical Program and next round of funded projects.
With growth expected across all lead battery applications – 60% of the global rechargeable battery market is represented by lead batteries – the potential for innovation in the technology remains a significant drive for CBI and its research partnerships worldwide with members, governments and national laboratories.
Dr Matthew Raiford, Senior Technical Manager of CBI, said: “Last year, we launched our new Technical Roadmap and that document has predicted where we expect to see strong market growth in the next decade for lead battery technology. This is driving our research call to ensure advanced lead batteries can continue to develop and innovate to help societies meet ambitious decarbonization and electrification targets.” For motive power applications, the focus is lowering the total cost of ownership by increasing cycle life, recharge time and producing maintenance-free batteries. For energy storage, improving cycle life, calendar life and overall efficiency while reducing acquisition and operating costs are the priority. More
Energean plc made a positive step in the continued development of its Israeli natural gas operations, signing a supply agreement with the Israel Electric Company, the largest Israeli buyer of natural gas. IEC will now have the right to purchase natural gas from Energean’s fields. The gas price will be determined in each period, with purchased amounts determined on a daily basis. Starting upon the commencement of first gas production from Karish, the agreement will be valid for an initial one-year period with an option to extend subject to ratification by both parties. This is the first agreement of its kind for Energean and represents a significant step in the development of the Company’s position in the Israeli gas market. The agreement will optimise Energean’s gas sales portfolio and ensures full utilization of its FPSO capacity. Read More
Occidental announced that Vicky A. Bailey, President of Anderson Stratton International, LLC (ASI) and a former equity partner of BHMM Energy Services, LLC, has been elected to its Board of Directors, effective March 22, 2022.
Ms. Bailey has more than 35 years of experience within the energy sector. In addition to her role as President of ASI, a strategic consulting and government relations entity, she was a founding partner at BHMM Energy Services, a certified minority-owned energy facility management company contracted to manage the Central Energy Plant at the Indianapolis Airport Midfield Terminal, from 2006 to 2013. Ms. Bailey also served as Assistant Secretary, U.S. Department of Energy for Domestic Policy and International Affairs, from 2001 to 2004. She was a Commissioner on the Federal Energy Regulatory Commission from 1993 to 2000 and a Commissioner of the Indiana Utility Regulatory Commission from 1986 to 1993. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $110.60 | Down |
| Crude Oil (Brent) | USD/bbl | $117.30 | Down |
| Bonny Light | USD/bbl | $119.90 | Down |
| Saharan Blend | USD/bbl | $122.22 | Down |
| Natural Gas | USD/MMBtu | $5.41 | Up |
| OPEC basket 24/03/22 | USD/bbl | $118.72 | Up |
Energean announced its audited full-year results for the year ended 31 December 2021 (“FY 2021”).Highlights
• Announcement of Inaugural Dividend Policy
• First gas from Karish on track for Q3 2022, development was 92.5% complete as at 31 December 2021
• Revenues of $497 million ($336 million 2020 pro forma) and Adjusted EBITDAX of $212 million ($108 million 2020 pro forma), representing record full year results and the transition to net operating profit. Capital expenditure was$408 million ($565 2020 pro forma)
• Reduced EGPC receivables to $95 million as at 31 December 2021 (c.40% y-o-y reduction)
• Average working interest production of 41.0 kboed (72% gas) was above initial guidance, with cost of production of $17.5/boe Read More
Panoro Energy ASA announced the appointment of Country Managers. In addition to Sofiane Gaied, who joined Panoro as Country Manager Tunisia in 2018, Ghislain Boukoubi has been appointed as Country Manager Gabon, and Antonino Edjang Ondo has been appointed as Country Manager Equatorial Guinea.
Panoro’s Country Managers are nationals and permanent residents of the respective countries of operation and are responsible for Panoro’s day-to-day oil and gas operational activities, working with joint venture partners, host governments and regulators to optimise production levels and asset performance, capital and operational budgets and managing the allocation of resources to meet the priorities of the business. Each Country Manager is also responsible for implementation of social investments that Panoro may undertake in association with joint venture initiatives or its own corporate social responsibility undertakings. Biographies of Panoro’s Country Managers, who report to Panoro’s Chief Executive Officer John Hamilton, are included below. Read More
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) will publish its first quarter results for the period ended 31 March 2022 on 28 April 2022 at 07:00 UK time. A conference call and simultaneous webcast for the investment community will be held on 28 April 2022 at 12:00 UK time. From 07:00 UK time the results announcement and the presentation to be reviewed on the conference call and webcast will be available on the Subsea 7 website: Read More
TotalEnergies is presenting the advances made in its transformation strategy and an update of its climate ambition, in accordance with the commitment made by the Board of directors at its Annual Shareholders’ Meeting of May 25, 2021. The report, the presentation and the webcast of the event are available at totalenergies.com.
In 2021, TotalEnergies deployed its transformation strategy
In 2020, TotalEnergies unveiled its transformation strategy to become a multi-energy company, as well as its ambition to become a major player in the energy transition, committed to getting to net zero by 2050, together with society. Read More
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 18th March 2022 | 663 | +0 |
| Canada | 18th March 2022 | 176 | -30 |
| International | February 2022 | 813 | — |
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
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