Energy News Digest, Oil and Gas, 12th Jan. 2022. OPEC daily basket price stood at $84.35 a barrel Wed., 12th Jan. 2022
WTI for February delivery rose $1.42 to settle at $82.64 a barrel in New York.
Brent for March settlement gained 95 cents to settle at $84.67 a barrel
Through its joint venture with Amarenco, TotalEnergies tops the rankings once again in the CRE 4 call for tenders1, strengthening its position as the market leader in rooftop solar installations in France. In round 13 of the call for tenders issued by the French Energy Regulatory Commission (CRE), the joint venture has won 194 projects, representing a total of nearly 58 MW or 20% of the capacity awarded.
TotalEnergies has won more than 250 MW of solar projects in total across all 13 rounds of the CRE 4 “rooftop solar” call for tenders initiated in 2017. Read More
Finproject, a Versalis (Eni) company, has obtained ISCCPLUS certification at its industrial sites in the Marche and Abruzzo regions for its Bio, Bio-circular and Circular Compounds and Bio, Bio-circular and Circular Plastic Products, produced using sustainable raw materials.
This achievement is an important step towards the goal of offering the market decarbonised and circular products. The availability of sustainable products comes following Finproject’s integration with Versalis (Eni), which in turn has ISCC PLUS certified plants in France (Dunkirk) and Germany (Oberhausen) from which Finproject is supplied with its raw material.
ISCC Plus is part of the ISCC (International Sustainability & Carbon Certification) scheme. This voluntary scheme allows companies along the supply chain to monitor and demonstrate the sustainability of their products through the verification of sustainability, traceability and mass balance requirements.
In 2022, Finproject will extend ISCC Plus certification to its Italian Padanaplast site and plants overseas, demonstrating the strength of its circular economy strategy, focused on an increasing use of sustainable raw materials. Read More
Vortexa launches the most complete Global Onshore Crude Inventories Data & Analytics available in the market today. Vortexa called it the world’s most complete data and analytics for global onshore crude inventories. Read More
The Lanaz Company will use Honeywell’s UOP modular naphtha hydrotreating and fixed-bed Platforming process units to upgrade its refinery in Iraq so it can produce more cleaner-burning transportation fuels. The project marks the first use of UOP modular technology in the country and will help Lanaz comply with increasingly strict specifications for fuel products. UOP has supplied licensing and basic engineering design services as well as full modular units to Lanaz, based in Erbil in the Kurdistan region of Iraq. Read More
McDermott International and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s premier national science organization, are evaluating technical and commercial opportunities for the deployment of CSIRO’s carbon capture technologies for energy and heavy industry applications.
McDermott’s expansive experience comes with four decades and over 200 successful carbon capture and carbon separation projects, applying technologies with low-carbon delivery potential and global deployment. A powerful collaboration has been established between these two organizations, highlighting McDermott’s commitment to an integrated delivery approach to energy transition.
CSIRO has nearly a century of technology innovation, including its recent carbon capture technology for Direct Air Capture and post-combustion processes being developed in collaboration with Santos, Australia’s largest domestic gas supplier. Read More
| Commodity Prices | Units | Price $ | change |
| Crude Oil (WTI) | USD/bbl | $82.19 | Up |
| Crude Oil (Brent) | USD/bbl | $84.39 | Up |
| Bonny Light | USD/bbl | $85.54 | Up |
| Natural Gas | USD/MMBtu | $4.65 | Up |
| OPEC basket 12/01/22 | USD/bbl | $84.35 | Up |
Equinor has revised its estimate of the total recoverable reserves in the Mariner field from an earlier assessment of approximately 275 mmbbl to about 180 mmbbl. The revision will result in an impairment in the region of USD 1.8 billion which will be reflected in IFRS net operating income for Equinor’s Exploration and Production International segment in Q4 2021 results, to be reported on 9 February 2022.
The Mariner field began producing in 2019 and consists of two reservoirs: Heimdal and Maureen. Mariner’s reserves have a wide range of uncertainty given the high subsurface complexity and the early production phase of the field. Read More
C-Kore Systems Limited is celebrating as they were honoured with a Queen’s Award for Enterprise for the second time in 3 years. Following their award for Innovation in 2019, they have now been recognised for their contribution to International Trade. The formal Queen’s Award presentation was an ideal opportunity for the C-Kore team to take a moment and reflect on their achievements so far. .Read More
Yokogawa Electric Corporation (TOKYO: 6841) announces that it has obtained ISASecure CSA Level 1 certification from the ISA Security Compliance Institute* (ISCI) for its CENTUM VP integrated production control system, a product in the OpreX™ Control and Safety System family. With this certification, Yokogawa’s CENTUM VP integrated production control system and ProSafe-RS safety instrumented system now both conform to the latest international security standards. In addition, the company has developed an enhanced version of ProSafe-RS Lite that meets both explosion protection and marine standards, and an updated version of the Plant Resource Manager (PRM) software that supports this latest version of the ProSafe-RS Lite. Read More
Dealing with the US shale industry’s produced water is increasingly controversial for operators, a new Rystad Energy report reveals. Even though total produced volumes are projected to hit new record highs in the coming years, treated water is expected to be comparatively lower than in the past, despite water disposal practices increasing oilfield seismic activity, with earthquakes nearly doubling in West Texas alone in 2021. Future growth in US shale activity is tied with an inevitable increase in produced water, as hydraulic fracturing for hydrocarbon production leads to greater volumes of water. Therefore, as elevated oil prices drive shale activity in major basins, produced water levels in US onshore oilfields are set to return to the all-time-high level of 22.9 billion barrels in 2022, an 8% rise from 2021. New records are anticipated from 2023 at 23 billion barrels, further growing to 23.8 billion barrels in 2026. Fracking activity alone will rise 7% in 2022. Read More
The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease contracts were awarded in the fourth quarter of 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market. Demand for FPSO units in Brazil was a significant contributing factor that drove 2021 growth, with seven of last year’s 10 contract awards being Brazilian projects. The South American nation is expected to continue driving global awards in 2022, with an additional three FPSOs expected. Not only is Brazil delivering more awards, but the Brazilian projects are expected to be the largest in terms of production capability. Read More
Dana Gas PJSC announced that its collections from the KRI and Egypt rose 107% year-on-year in 2021 to $377 million (AED 1.38 billion) from $182 million (AED 667mm) in 2020, enhanced by a strong rebound in oil prices, an accelerated pace of payments from Egypt and the settlement of past outstanding KRI receivables. Dana Gas, which owns a 35% interest in Pearl Petroleum, saw its share of collections from sales of condensate, LPG and gas in the KRI rise 80% to $184 million (AED 674mm) in 2021 versus $102 million (AED 374mm) in 2020. This increase follows the full repayment of past outstanding receivables from 2019 and 2020. Meanwhile in Egypt, Dana Gas collected $193 million (AED 707mm) during 2021, compared to $80 million (AED 293 mm) in 2020, a 141% year-on-year jump. Read More
| Region | Period | No. of Rigs | Change from Prior Count |
| U.S.A | 7th January 2022 | 588 | +2 |
| Canada | 7th January 2022 | 141 | +51 |
| International | December 2021 | 834 | +17 |
Banks in the Gulf Cooperation Council (GCC) are set to benefit from a regional economic recovery this year amid higher oil prices, supportive government spending, and normalizing non-oil activity, S&P Global Ratings said in a new report. Read More
ESG Evaluation: UGI Corp.
UGI Corp., distributes, stores, and markets energy products and related services. The company operates through four business segments: AmeriGas Propane is the largest propane distributor in the U.S., serving more than 1.5 million customers in all 50 states (36% of UGI reported EBIT in 2020); UGI International distributes liquified petroleum gas (LPG) in 17 countries throughout Europe and conducts a natural gas and electricity marketing business in France, Belgium, the Netherlands, and the U.K. (25%); UGI Utilities operates a regulated natural gas distribution business serving more than 670,000 customers and a regulated electric utility business serving 62,500 customers mainly in Pennsylvania (22%); and UGI Energy Services sells natural gas, renewable natural gas (RNG), liquid fuels, and electricity to 14,000 U.S. customers, conducts midstream natural gas operations through its ownership of underground natural gas storage, gas peaking plans, and pipeline assets Read More
CME Group, announced that its two new China portside iron ore futures contracts have launched and are available for trading. A total of 500 contracts have traded since launching on January 10, with participation from a number of firms, including ForChi Holding Pte Ltd, Theme International Trading and Trafigura. These trades were brokered by a number of inter-dealer brokers including BPI Financial Group, SSY Futures and Straits Financial Services.
“Our China Portside Iron Ore futures are complementary to our existing ferrous suite of products and provide a way for customers to manage their exposure to landed iron ore cargo prices on-shore in China,” said Young-Jin Chang, Managing Director and Global Head of Metals at CME Group. “We are pleased to see strong industry interest and support for these iron ore futures contracts.” Read More
INEOS has signed a new Performance Partnership with Eliud Kipchoge to support Kipchoge’s ambitious performance goals in running.
Having won gold in the men’s marathon at the 2020 Tokyo Olympic Games, defending his title from Rio 2016, Kipchoge is going for a record-breaking three Olympic titles back-to-back as he targets gold at Paris 2024. To support this ambition, Kipchoge has signed a Performance Partnership with INEOS and will be working with Sir Dave Brailsford in his new role as Director of Sport at INEOS. Read More
Eni’s goal is to transform the transport system by adopting new ideas and technologies and creating products that are both efficient and sustainable. Eni’s evolution entails achieving carbon neutrality by 2050, in line with the United Nations 2030 Agenda and the targets set out in the Paris Agreement on climate change. Eni has planned a decarbonization pathway that will reduce emissions generated throughout the life cycle of energy products. We will achieve this by strategically combining all available technologies. With a multidisciplinary approach, we are able to offer a mix of products and solutions ranging from the use of biofuels produced from waste raw materials to electric charging points, from biomethane to natural gas and the use of hydrogen. Furthermore, to leverage our assets and facilities as a driver of circular economy growth, it is essential to implement synergies throughout the supply chain. We do this through public and private partnerships. Read More
Neste has successfully concluded its first series of trial runs processing liquefied waste plastic at its Porvoo refinery in Finland. After kicking the series off with its first-ever industrial scale trial run with liquefied waste plastic in 2020, Neste has conducted additional runs in 2021. In the course of the trial runs, Neste has been able to upgrade liquefied waste plastic to drop-in solutions for plastic production and develop industrial scale capabilities to upgrade recycled feedstocks. Trials pave the way for continuous and commercial activities
Neste has set itself the goal of processing more than one million tons of plastic waste per year from 2030 onwards. To achieve that goal, the company is advancing chemical recycling to turn plastic waste into a valuable raw material, strengthening circularity. For the first time ever, Neste completed a successful trial run with 400 tons of plastic waste in 2020, marking a milestone when it comes to Neste’s goal of driving a circular economy to reduce the depletion of fossil resources. Read More
Genetec Inc., a leading technology provider of unified security, public safety, operations, and business intelligence solutions, announced that its KiwiVision™ Privacy Protector™ has been re-certified with the European Privacy Seal (EuroPriSe) for the sixth consecutive two-year term. KiwiVision Privacy Protector is the only solution to have received the European Privacy Seal certification for its ability to protect the identity of individuals within video surveillance recordings. Read More
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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.
