Energy News Digest, Oil and Gas, 18th Jan. 2022. OPEC daily basket price stood at $86.54/b Monday, 17 January 2022

Oil prices continues upward trend on Monday, with Brent trading at almost $88/b.
West Texas Intermediate for February delivery was 0.6% higher at $84.30 when holiday trading halted on the New York Mercantile Exchange

Brent for March edged up 0.4% to settle at $86.48 a barrel on the ICE Futures Europe exchange

Governments need to significantly improve renewable electricity procurement options and reduce regulatory hurdles that are stopping businesses from transitioning to net-zero according to the latest findings from RE100’s annual disclosure report 2021. 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. Read More

The United Arab Emirates (UAE) is keen to seize the economic opportunities presented by the energy transition, according to Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Abu Dhabi Future Energy Company (Masdar). Dr. Al Jaber made the remarks during the opening ceremony of Abu Dhabi Sustainability Week (ADSW) and awards ceremony of the Zayed Sustainability Prize at Expo 2020 Dubai, in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Read More

According to preliminary data, Gazprom produced 23.1 billion cubic meters of gas between January 1 and 15, 2022, which is 2.1 per cent (or 0.5 billion cubic meters) more than in the same period of last year. Gazprom ramped up its domestic supplies from the gas transmission system by 3.7 per cent (or by 0.6 billion cubic meters) over said period of 2022. The Company’s gas exports to the countries beyond the FSU amounted to 5.4 billion cubic meters, which is lower than the figure for the same period of 2021 by 41.1 per cent (or by 3.7 billion cubic meters). At the same time, Gazprom increased its supplies to Bulgaria (by 48.6 per cent), Turkey (by 0.3 per cent), and Bosnia and Herzegovina (by 7.3 per cent). The Company’s gas deliveries are carried out as requested by consumers in line with contractual obligations. Gas supplies to China via the Power of Siberia pipeline keep growing. In the first half of January 2022, their amount was 1.5 times higher than the figure for the same period of last year. Read More

The China National Offshore Oil Corporation (CNOOC) is to press ahead with oil exploration at a 530-km2 offshore block in Basra.

Originally agreed in 2019, the work had been delayed due to the COVID-19 pandemic. In parallel, Iraq’s state-owned Oil Exploration Company (OEC) will carry out seismic surveys on the adjoining 120-km2 onshore area. Read More

Oando Energy Resources, has appointed an environmentalist, Mrs. Nana Mede, into its board of directors. The energy solutions provider announced Mede’s appointment in a statement issued on Sunday, adding that she would bring her expertise to ensuring the company’s clean energy ambitions were actualised. Oando described the appointment of the new clean energy driver of the company as crucial. Read More

Commodity PricesUnitsPrice $change
Crude Oil (WTI)USD/bbl$85.18Up
Crude Oil (Brent)USD/bbl$87.45Up
Bonny LightUSD/bbl$87.37Up
Natural GasUSD/MMBtu$4.29Up
OPEC basket 17/01/22USD/bbl$86.54Up
At press time 18th January 2022

Baker Hughes ,Rig Count, U.S., Canada,

RegionPeriodNo. of RigsChange from Prior Count
U.S.A14th January 2022601+13
Canada14th January 2022191+50
InternationalDecember 2021834+17

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.