News Digest, Energy, Oil and Gas, 25th Jan. 2022. OPEC daily basket price stood at $87.98 a barrel on Monday, 24 January 2022

Oil prices remain stable averaging above $84/b supported by continued heightening geopolitical tensions in Eastern Europe and the Middle East and the Middle East. Yemen’s Houthi movement, aligned with Iran, launched a missile attack at the United Arab Emirates on Monday that targeted a base hosting the U.S. military, but was thwarted by U.S.-built Patriot interceptors, U.S. and Emirati officials reportedly said.
WTI for March delivery fell $1.83 to settle at $83.31 a barrel in New York.

Brent for March settlement decreased $1.62 to $86.27 a barrel

About 8,500 U.S. troops were put on heightened alert Monday for possible deployment to Europe, ratcheting up tensions as Russia refused to back down from the threat of invading Ukraine.

The alert order was issued by Defense Secretary Lloyd Austin to units now in the U.S. that would be part of a NATO force if the alliance decides to activate a military response, Pentagon spokesman John Kirby said during a press briefing. The move includes Army brigade combat teams as well as logistics, medical, aviation and transportation units. Read More

Peru has declared an environmental emergency after almost 264,000 gallons of crude oil spilled into the sea when a tanker was hit by big waves while offloading at a refinery. Read More

Qatar signed an agreement to guarantee the supply of natural gas for operating the only power plant in the Gaza Strip, Qatari Ambassador to Palestine Mohammed al-Emadi told reporters here on Friday. Al-Emadi said that he signed the agreement with the Gaza Electricity Generation Company and the Gaza Electricity Distribution Company. Read More

Reliance Industries Limited Results (Y-O-Y – 3Q FY22 compared with 3Q FY21)
Gross Revenue for the quarter was ? 209,823 crore ($ 28.2 billion), higher by 52.2%
• EBITDA for the quarter was ? 33,886 crore ($ 4.6 billion), higher by 29.9%
• Exceptional Item (gain) of ? 2,872 crore on account of divestment of shale gas assets, partially offset by provisions for liabilities pertaining to GAPCO amounting to ? 36 crore.
• Net Profit (after exceptional items) for the quarter was ? 20,539 crore ($ 2.8 billion), higher by 37.9%
• Cash Profit (after exceptional items) for the quarter was ? 30,147 crore ($ 4.1 billion), higher by 41.2%.
• EPS (after exceptional items) for the quarter was ? 28.1 per share, increased by 38.1%

Read More

Reliance Industries expects the global natural gas crunch and the gas price rally to continue benefiting India’s oil-to-telecoms conglomerate with more earnings in the coming months after higher oil and gas production and price realizations helped it deliver record quarterly earnings. Read More

Rosneft and St. Petersburg International Mercantile Exchange (SPIMEX) signed a Cooperation Agreement. The document was signed by Rosneft Chief Executive Officer Igor Sechin and SPIMEX President Alexei Rybnikov.

The Agreement provides for cooperation between the parties in the area of carbon management and development of exchange trade in carbon units resulting from the implementation by Rosneft of projects to reduce greenhouse gas emissions. Read More

Falcon Oil & Gas Ltd. provides details of the Stage 3 work programme in the Beetaloo Sub-Basin, Northern Territory, Australia with its joint venture partner, Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited (“Origin”).

2022 will see Falcon and Origin progressing to the Stage 3 work programme of the restated Farm-Out Agreement. , which will include the drilling, fracture stimulation and extended production test of two horizontal wells. Read More

Standard Lithium Ltd., today offered an update on several project and other related developments.
SiFT Lithium Carbonate Plant, The ‘SiFT’ lithium carbonate plant was installed at the site in Q3 2021 (see September 1st news release) and has been successfully commissioned and used to produce battery quality lithium carbonate at the plant. The lithium carbonate was produced at the SiFT Plant in a single crystallization stage (contrasting with multiple stages in a typical process). The crystals were washed twice using hot deionized water to attain battery-quality (>99.83% purity) lithium carbonate. This is the first of its kind demonstration of a continuous Direct Lithium Extraction (DLE) plant being operated at scale, producing a concentrated lithium chloride intermediate product and directly converting to battery quality lithium carbonate in a single crystallization step. Completion of this phase of work is another important milestone for the Company and its technology-driven approach to development. The current iteration of the Company’s proprietary LiSTR DLE demonstration plant in El Dorado, Arkansas also uses a novel osmotically assisted High Pressure Reverse Osmosis (HPRO) unit to concentrate the LiCl solution prior to carbonation. This HPRO unit was successfully integrated into the plant and has been operating according to design criteria since September 2021 and consistently producing LiCl solutions containing approximately 7,000 mg/L lithium. Read More

SBM Offshore announced that it has entered into a shareholder agreement with its long standing business partners Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK). MC and NYK have acquired a respective 25% and 20% ownership interest in the special purpose companies related to the lease and operation of the FPSO Almirante Tamandaré. SBM Offshore is the operator and will remain the majority shareholder with 55% ownership interest. Read More

Commodity PricesUnitsPrice $change
Crude Oil (WTI)USD/bbl$84.39Down
Crude Oil (Brent)USD/bbl$87.49Down
Bonny LightUSD/bbl$86.62Down
Natural GasUSD/MMBtu$3.96Up
OPEC basket 24/01/22USD/bbl$87.98Up
At press time 25th January 2022

Petrus Resources Ltd. announce it has been named to the 2022 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Read More

Enerflex Ltd. and Exterran Corporation announced a business combination to create a premier integrated global provider of energy infrastructure. The company will operate as Enerflex Ltd. and will remain headquartered in Calgary, Alberta, Canada. Through greater scale and efficiencies, the transaction will strengthen Enerflex’s ability to serve customers in key natural gas, water, and energy transition markets, while enhancing shareholder value through sustainable improvements in profitability and cash flow generation. The companies will combine in an all-share transaction pursuant to which Enerflex will acquire all of the outstanding common stock of Exterran on the basis of 1.021 Enerflex common shares for each outstanding share of common stock of Exterran, resulting in approximately 124 million Enerflex common shares outstanding upon closing, representing an implied combined enterprise value of approximately US$1.5 billion. Read More

Solar Alliance Energy Inc.announce that it has qualified for trading on the OTCQB Venture Market in the United States operated by the OTC Markets Group Inc. and the Company’s common shares will commence trading today on the OTCQB under the symbol “SAENF.” The Company’s common shares will continue to trade on the TSX Venture Exchange. Read More

Liebherr will be expanding its use of Neste MY Renewable Diesel™ to its plant in Kirchdorf where the company develops and manufactures annually approximately 2,500 machines, such as hydraulic excavators, material handling machines and articulated trucks. Neste-produced renewable diesel will be used in the first fill and testing as well as in all plant traffic.

Liebherr has already been powering its mobile and crawler cranes at its plant in Ehingen exclusively with Neste MY Renewable Diesel since September 2021. Liebherr is a global leader in the manufacture of mobile cranes.

Liebherr has been preparing its entire range of mobile and crawler cranes to use renewable diesel over the past few months. Engine manufacturers have checked, certified and approved the use of renewable diesel in the diesel engines. Customers and the company’s own test department have also conducted extensive tests on the cranes powered by renewable diesel. The required tests for the approval were conducted with Neste MY Renewable Diesel. Read More

RegionPeriodNo. of RigsChange from Prior Count
U.S.A21st January 2022604+3
Canada21st January 2022212+21
InternationalDecember 2021834
Baker Hughes ,Rig Count, U.S., Canada,

OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.

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