Count, Oil Prices, Newstrack to 05/01/2021

The 13th OPEC and non-OPEC Ministerial Meeting meeting will resume at 15:30 (Vienna time)today, Tuesday, 5 January.

Natural Gas Prices Jump On Cold Weather ForecastNatgas February Nymex contracts jumped 3.5% Monday morning due to colder weather trends

Commodity At press timeUnitsPrice $Change
Crude Oil (WTI)USD/bbl48.380.00%
Crude Oil (Brent)USD/bbl51.920.00%
Bonny LightUSD/bbl50.430.00%
Natural GasUSD/MMBtu2.670.00%
OPEC basket 05/01/21USD/bbl51.360.00%
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

BW Offshore: Contract extension for Abo FPSO BW Offshore has signed an extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until end Q4 2021, with options until Q2 2023.

OKEA ASA – Yme New Development project update The jack up process has been completed and Yme New Development project is now moving into the phase for hook-up, commissioning and preparation for production startup. Expected production start in 2021 remains unchanged and well within reach.

Yara sells LIFECO stake to Libya’s National Oil Corporation Yara has entered into an agreement with Libya’s National Oil Corporation (“NOC”) and the Libyan Investment Authority (“LIA”) on 31 December 2020 to divest its full ownership interest in the Libyan Norwegian Fertiliser Company (“LIFECO”).

Fiat Chrysler and PSA merger signed off by shareholders The merger was backed by more than 99% of PSA investor votes cast on Monday morning, according to a report by Reuters. The deal will create the world’s fourth largest car maker, bringing PSA brands such as Peugeot, Citroen and Vauxhall together with Fiat, Jeep and Chrysler.

Sustainable Investing Assets Reach $17.1 Trillion The US SIF Foundation’s 2020 biennial Report on US Sustainable and Impact Investing Trends, released today, found that sustainable investing assets now account for 1 in 3 dollars—of the total US assets under professional management. This represents a 42 percent increase over 2018. The report identified $16.6 trillion in US-domiciled assets at the beginning of 2020 held by 530 institutional investors, 384 money managers and 1,204 community investment institutions that practice ESG incorporation

Iraq Seals $2 Billion Oil Deal With China Iraq’s SOMO, the state oil marketing company, said the amount to be received will carry no interest and will represent a premium over oil prices, the Financial Times reported, citing the company’s general manager.

Shell to lay off nearly 700 workers in Louisiana The layoffs will begin in March and be completed by the end of August when the plant closes, according to information filed with the Louisiana workforce commission last month.

Nio doubles deliveries in 2020 Chinese electric car start-ups Nio, Li Auto and Xpeng each announced in the last few days that vehicle deliveries surged last year. Sales of pure electric vehicles from January through November rose 4.4% from a year ago

CME Group Reports 2020 Annual, Q4 and Monthly Market Statistics Record Natural Gas futures and options ADV of 639,000 contracts

Pakistan’s new pipeline with Russia Pakistan will start building a 1,100 kilometer (684 miles) pipeline in July with Russia that will allow the South Asian nation to operate more liquefied natural gas terminals.

Baker Hughes Rig Count to 31st December 2020

RegionPeriodNo. of RigsChange
U.S.A30 Dec. 2020351+3
Canada30 Dec. 202059-23
Internationalto Nov. 2020669+13
The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. [Read more…]

Newstrack compiled by Oil and Gas Press / Segun Cole , Please email us your industry related news for publication

Submit a Press Release

Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook

Press release / News on Saving Energy, Protecting the Environment

Most 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. OilAndGasPress welcomes all viewpoints. Should you wish to provide a different perspective on the above article, please email us

Information posted is accurate at the time of posting, but may be superseded by subsequent press releases