Energy News to 09/01/23 . OPEC daily basket price at $76.17/bl, 06 Jan. 2023
A total of 1,449 TWh (2021: 1,652 TWh ) of natural gas was imported into Germany in 2022. The largest volumes came from Norway (33%) and from Russia with 22% (2021: 52%). Gas deliveries from Russia fell over the course of the year. While around 1.7 TWh were supplied daily via Nord Stream 1 up until mid-June, supplies fell first by 60%, then by 80% and finally dropped to 0 TWh at the beginning of September . The lack of gas deliveries from Russia was partly compensated for by additional imports, including from the Netherlands, Belgium and Norway. At the same time, exports to neighboring countries fell, partly due to lower gas demand. In total, Germany exported around 501 TWh (2021: 749 TWh ) of natural gas in 2022. This meant that, on balance, at 948 TWh more natural gas was available in Germany than in 2021 (902 TWh ). Read More
China’s reopening continues to be the main bullish factor for oil, fears of recession remain the main bearish factor and there are good reasons for these fears, with the EU’s core inflation hitting a record high at the end of 2022, and the U.S. Fed continuing with its aggressive inflation-taming approach. If a recession indeed hits enough countries, oil prices could dip to $60 per barrel, according to energy economist Bernard Weinstein, who spoke to TheStreet. Read More
Neptune Energy today announced first oil production from its operated Rӧmerberg 6 well in the city of Speyer, south-western Germany. Initial production tests indicate flow rates of up to 1,800 barrels of oil equivalent per day (boepd). Römerberg 6 is the ninth production well on the field and is expected to increase Neptune’s production in the Rhine Valley to around 3,700 boepd.
Partners: Neptune Energy (operator, 50%), Palatina GeoCon (licence owner, 50%) Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $75.47 | Up |
| Crude Oil (Brent) | USD/bbl | $80.28 | Up |
| Bonny Light | USD/bbl | $79.57 | Up |
| Saharan Blend | USD/bbl | $78.35 | Down |
| Natural Gas | USD/MMBtu | $3.87 | Up |
| OPEC basket 06/01/23 | USD/bbl | $76.17 | Down |
Neptune Energy welcomed the announcement from its partner, Horisont Energi, that it has entered into an option agreement on the location of an onshore terminal for the Errai carbon capture and storage project in Norway. The receiving terminal for intermediate onshore storage of CO2 will be located in Gismarvik on the west coast of Norway. From here, carbon would be transported through pipeline to the North Sea, where it would be injected and permanently stored in an offshore reservoir. The option agreement is with Haugaland Næringspark. Errai is the first commercial CO2 storage project in Norway and could have a major impact on the development of the carbon market in Europe. Errai could store 4-8 million tonnes of CO2 annually, with the potential to store more in later phases. Read More
Baker Hughes Rig Count
International Rig Count is down 10 rigs from last month to 900 with land rigs down 4 to 684, offshore rigs down 6 to 216.The Worldwide Rig Count for December was 1,834, down 56 from the 1,890 counted in November 2022,and up 271, from the 1,563 counted in December 2021.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 6 January 2023 | 772 | -7 |
| Canada | 6 January 2023 | 189 | +105 |
| International | December 2022 | 900 | -10 |
BW Energy announced the start of drilling of the first production well on the Hibiscus / Ruche Phase 1 development in the Dussafu Block offshore Gabon. Drilling operations commenced on schedule in the first week of January and in line with the target of producing first oil in March 2023.
The Borr Norve jackup arrived on location in late December and immediately started preparations for the drilling campaign. The first production well, DHIBM-3H, targets the Gamba sandstone reservoir on the Hibiscus field and is expected to take just over two months to drill and complete. Installation of flexible pipelines and risers, completing the 20-kilometer connection between the BW MaBoMo production facility and the FPSO BW Adolo, was also finalised last week.
“We are on track for first oil towards the end of the first quarter. This will be the first step of many on a path for successive production growth as we complete the drilling Hibiscus / Ruche Phase 1 program and asset upgrades through 2023 and into early 2024,” said Carl Krogh Arnet, the CEO of BW Energy.
The initial Hibiscus / Ruche Phase 1 drilling campaign targets the Hibiscus and Ruche fields which are expected to add approximately 30,000 barrels per day of total oil production when all wells are completed in early 2024. Read More
PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners. The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022. The HoA with BGN was signed by the CEO of BGN Group, Ruya Bayegan, and the CEO of PIS, Yoki Firnandi. The agreement addresses a Joint Venture (JV) establishment by the two companies for the acquisition, maintenance, and operation of VLGC (Very Large Gas Carriers) vessels and/or other types of vessels. BGN, headquartered in the UAE, is one of the world’s largest LPG (Liquified Petroleum Gas) trading companies and the largest LPG importer in Indonesia. “The VLGC business will support BGN’s imports of Pertamina’s LPG. At some point, it might endorse the cargo market of ammonia,” said Commercial Director of PIS, Arief Sukmara.
The MoC with Elite Tankship addresses Clean Petroleum Products (CPP), Dirty Petroleum Products (DPP), gas and other commodities needed in the Middle East, and other areas covered by the parties. The MoC was signed by Elite Tankship CEO Mangish Kakodkar, and PIS Director of Operations and Singapore Managing Director Brilian Perdana.
Elite Tankship, headquartered in Singapore, established collaboration with PIS in chartering the VLCC Pertamina Prime, the largest owned vessel and the company’s pride, in May 2022 for a six-year contract period. Read More
Capricorn Energy PLC – Notice of General Meeting: A notice of general meeting (the “Notice”) is being posted to shareholders today. The Notice convenes a general meeting of the Company (the “General Meeting”) requested by Palliser Capital Master Fund Ltd (“Palliser”) to consider resolutions to remove seven of the current directors from the board of directors of the Company (the “Board”) and to appoint six new directors, selected by Palliser, to the Board. Taking account of the date on which Palliser’s requisition notice was deposited at the Company’s registered office as required by the Company’s Articles of Association, the General Meeting will be held at the Sheraton Grand Hotel, 1 Festival Square, Edinburgh EH3 9SR at 2.00 p.m. (London time) on 1 February 2023. Read More
From 9 January 2023, the shares in Equinor (OSE: EQNR; NYSE: EQNR) will be traded ex dividend USD 0.90 (ordinary dividend of USD 0.20 and extraordinary dividend of USD 0.70). Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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