Energy Newstrack to 24/03/2021

U.S. oil production stayed the same for the week ending March 12 at 10.9 million bpd, according to the latest data from the EIA

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.927 million barrels for the week ending March 19.

Commodity PricesUnitsPrice $Change
Crude Oil (WTI)USD/bbl60.51Down
Crude Oil (Brent)USD/bbl63.58Down
Bonny LightUSD/bbl60.95Down
Natural GasUSD/MMBtu2.52Up
OPEC basket 23/03/21USD/bbl62.27Down
At press time 24 March, 2021

One more well to Deepsea Atlantic Equinor has exercised one additional well to the rig.

File Image

Odfjell Platform Drilling and Maintenance Contract Award TAQA in the UK has awarded Odfjell Drilling (UK) Limited (“Odfjell Drilling”) a five-year contract for the provision of Platform Drilling & Maintenance Services on its North Sea

Neptune Energy welcomes Blasto oil discovery Blasto is the first of two exploration wells we will drill in the Fram area this year, and fits with our strategy for exploration close to our existing infrastructure.

Neptune Energy’s Duva project marks important milestone The Duva development, on Production Licence 636, is an oil and gas subsea tie-back to the Gjøa semi-submersible facility. Neptune Energy is the operator of both the Duva project and the Gjøa facility.

Eni through Vår Energi announces a new significant oil discovery offshore Norway in the northern North Sea new significant oil discovery in production licence 090/090I in the northern North Sea by drilling the exploration well 31/2-22 S in the Blasto Main prospect. Vår Energi AS holds a 25% stake in the licence, with Equinor ASA (which is the Operator) holding 45%, Idemitsu Petroleum Norge AS (15%) and Neptune Energy Norge AS (15%).

Mubadala and Snam Sign MoU to Explore Potential Opportunities to Foster Hydrogen Development in the UAE The MoU was signed by Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala Investment Company (Mubadala), and Marco Alvera’, Chief Executive Officer at Snam.

This image has an empty alt attribute; its file name is Memorandum-of-Understanding-mou.jpg

UAE and UK Launch Sovereign Investment Partnership with Initial £1 Billion in Life Sciences An initial £800m commitment from Mubadala to invest in UK life sciences over five years is the first focus for the SIP. The sum will be deployed alongside the UK’s £200m Life Sciences Investment Programme announced last year, a vital pool of patient capital for the sector that will enable more UK life sciences businesses to scale and grow. The OfI and Mubadala will work together to identify commercially viable opportunities for investment into the sector.

RINA, Arbolia to build an urban forest of trees and shrubs for the absorption of over 100 tons of CO2 The Municipality of Turin, RINA, a multinational inspection, certification and engineering consultancy, and Arbolia, a benefit corporation of Snam and the CDP Foundation active in urban forestry, have signed a sponsorship agreement to create a forest of over 2,100 plants in the Sangone Park, in the Mirafiori Sud district. The new green area will help to reduce climate-altering emissions and improve the livability of the city.

Rig Count to 24th March 2021

RegionPeriodNo. of RigsChange
U.S.A19th Mar. 2021411+9
Canada19th Mar. 202192-24
InternationalFeb.2021701No Change
Baker Hughes Rig Count Overview & Summary Count

Continental Resources Announces Redemption Of Balance Of 5% Senior Notes Due 2022 The redemption price for the Notes called for redemption will be equal to 100.00% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date in accordance with the terms of the Notes and the indenture under which the Notes were issued.

Mega-ship wedged across waterway after running aground in the Suez Canal Could cause ‘catastrophic delays’ to global food and vaccine deliveries – as desperate mission to free the 200,000-ton vessel continues. Boat turned sideways, blocking one of the world’s busiest shipping lanes and causing 100-ship tailback

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