OilandGasPress Energy News Roundup
OPEC+ sticks with increased supply plan
Accelerating the global energy transition through international collaboration China has invested more in renewables than any other country on earth. And has become home to around a third of its renewable energy.
ACWA Power Announce Intention to Float on the Saudi Stock Exchange announced it is to proceed with an Initial Public Offering (“IPO” or “Offering”) and list its shares on the Main Market of the Saudi Stock Exchange (“Tadawul” or “the Exchange”).
The Capital Market Authority (“CMA”) on 30 June 2021 approved the Company’s application for the Initial Public Offering of 81,199,299 new ordinary shares, representing 11.1% of the Company’s enlarged share capital. The final price at which all subscribers in the Offering will purchase Shares will be determined at the end of the book-building period.
Saudi Tadawul Group announce plans for Riyadh voluntary exchange platform for carbon offsets and credits within the MENA region as part of efforts to combat climate change. Under the initiative announced on Friday, the platform will become the primary destination for companies and institutes seeking to reduce their emissions through the trading of verified, approved and high-quality carbon equivalent credits certificates.
Israel Stops Onshore Oil Exploration Permits Israel currently has five onshore oil production licenses and three onshore oil exploration permits. Israel has bet big on the largest gas field offshore the country, the Leviathan gas field, the biggest energy project
Recycled Off-Grid Solar Systems While in America off-grid solar electricity is still fairly uncommon, around the world it gives power to 420 million people.The International Renewable Energy Agency reports that, by 2050, there will be only slightly more new panels installed per year than there will be panels being decommissioned—and they are predicted to grow to 6% of global electronic waste streams.
Iraq, TotalEnergies Close to Signing Deal on Oil, Solar Projects The government of Iraqi and TotalEnergies SE are close to finalizing an accord that will trigger billions of dollars of investments aimed at boosting oil and gas production and reducing electricity outages in the Middle-Eastern nation, people familiar with the matter said.
Pertamina Operates 76 Green Energy Stations (GES), Eco-friendly Gas Stations PT Pertamina (Persero), continues to accelerate the commitment and contribution of the energy transition on the downstream by introducing 76 Green Energy Stations (GES). The 76 GES are located in several areas: 3 points in Lampung, 43 points in Banten, DKI Jakarta, and West Java, 13 points in Central Java and Special Region of Yogyakarta, and 17 points in East Java.
100% renewable fuel at the 24 Hours of Le Mans This 100% renewable fuel to be offered by TotalEnergies will be produced on bioethanol basis*, made from wine residues from the French agricultural industry, and from ETBE produced at TotalEnergies’ Feyzin refinery near Lyon (France) from feedstock also sourced from by the circular economy. This fuel should allow an immediate reduction of at least 65% of the racing cars’ CO2 emissions.
100% renewable fuel at the 24 Hours of Le Mans This 100% renewable fuel to be offered by TotalEnergies will be produced on bioethanol basis*, made from wine residues from the French agricultural industry, and from ETBE produced at TotalEnergies’ Feyzin refinery near Lyon (France) from feedstock also sourced from by the circular economy. This fuel should allow an immediate reduction of at least 65% of the racing cars’ CO2 emissions.
| Commodity Prices | Units | Price $ | Change |
| Crude Oil (WTI) | USD/bbl | $70.10 | Up |
| Crude Oil (Brent) | USD/bbl | $73.38 | Up |
| Bonny Light | USD/bbl | $72.04 | Up |
| Natural Gas | USD/MMBtu | $4.65 | – |
| OPEC basket 02/09/21 | USD/bbl | $71.64 | Up |
The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.
| Region | Period | No. of Rigs | Change |
| U.S.A | 27th Aug. 2021 | 508 | +5 |
| Canada | 27th Aug. 2021 | 147 | -9 |
| International | Aug. 2021 | 777 | +26 |
Crowley and Shell to Build LNG Bunker Barge in U.S Crowley Maritime Corporation has signed a long-term time charter with Shell NA LNG, LLC, (“Shell”) providing for the building and operation of a new, U.S.-built, LNG bunker barge. Upon construction, the barge will be the largest Jones Act-compliant vessel of its kind, helping to expand current network capacity and meet demands for cleaner energy.
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