Rig Count, Oil Prices, Newstrack to 11/02/2021

Brent crude futures for April gained 41 cents, or 0.7%, to $60.97 a barrel by 1000 GMT.

U.S. West Texas Intermediate crude (WTI) for March was at $58.25 a barrel, up 28 cents, or 0.5%.

Total reported a net loss of $7.2 billion for 2020 and said it will change its name to reflect its shift to renewable energy. Total’s management aim to propose to shareholders that the company changes its name to TotalEnergies at the annual shareholders’ meeting in May.

US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings

ConocoPhillips Ratings Lowered To ‘A-‘ On Revised Industry Risk Assessment; Outlook
Chevron Corp. Downgraded To ‘AA-‘ On Change In Industry Risk Assessment; Outlook Stable
Exxon Mobil Corp. Ratings Lowered To ‘AA-‘ On Revised Industry Risk Assessment; Outlook Negative

Imperial Oil Ltd. Downgraded To ‘AA-‘ From ‘AA’ Following Similar Action On Parent Exxon Mobil Corp.; Outlook Negative
Chesapeake Energy Corp. Assigned ‘B+’ Issuer Credit Rating, Outlook Stable; New Debt Rated ‘BB-‘
Canadian Natural Resources Ltd. Downgraded To ‘BBB-‘ Due To Weaker Business Risk Profile Assessment; Outlook Stable

Global emissions of the ozone-destroying chemical used in fridges and insulation have ‘dramatically’ fallen, promising study reveals It is a potent greenhouse gas that can have the same impact as CO2 from a city

Cenovus reports $2.4 billion net loss over the course of 2020 in year-end summary The company exited 2020 with net debt of $7.2 billion.

SNC-Lavalin announces agreement to sell Resources Oil & Gas business results of legacy LSTK litigation matters and reassessment of Canadian LSTK infrastructure projects in light of COVID-19, a significant step forward in the Company’s strategy to reduce its risk profile and accelerate its ongoing transition to becoming a leading provider of professional engineering services and project management solutions.

Honeywell Brings Enhanced Data Transfer Capabilities to All New Embraer E2 Aircraft, Retrofit for E1s The ADG-400 packages several key technologies into one scalable solution that enables a variety of connected aircraft solutions.

Honeywell To Participate In RBC Global Environmental, Social And Governance Conference Honeywell (NYSE: HON) today announced that Anne Madden, senior vice president and general counsel of Honeywell; Ben Owens, vice president and general manager of Honeywell Sustainable Technology Solutions; and George Koutsaftes, president of Honeywell Advanced Materials, will participate in a panel discussion at the RBC Global Environmental, Social and Governance Conference on Wednesday, February 24, 2021, from 1:00 p.m. – 1:40 p.m. EST.

Baker Hughes Rig Count to 11th February 2021

RegionPeriodNo. of RigsChange
U.S.A05 Feb. 2021392+8
Canada05 Feb. 2021171-3

Commodity At press timeUnitsPrice $Change
Crude Oil (WTI)USD/bbl57.790.00%
Crude Oil (Brent)USD/bbl60.740.00%
Bonny LightUSD/bbl60.400.00%
Natural GasUSD/MMBtu2.850.00%
OPEC basket 11/02/21USD/bbl60.540.00%
Oil Price to 11th February 2021

The Rural Clean Cooking project The Rural Clean Cooking project, launched in Ghana and Mozambique, aims to reduce the toxic fumes from wood fires and the pressure on forests by facilitating the transition to modern, clean sources of energy for the whole population.

Terrafugia’s Road and Air Vehicle Gets FAA Airworthiness Certificate: the Ultimate Hybrid for Urban Air Mobility Urban Air Mobility (UAM) could be the way of the future for cities crippled by traffic – with no where to go, quite literally, but up. The vehicles are there to fly: passenger drones, flying cars – or from Terrafugia, a road and air vehicle that is both.

US airline set to buy flying electric taxis for airport runs United Airlines will also invest in flying taxi firm Archer as part of a $1.1bn (£800m) deal to develop the aircraft. The aircraft need regulatory approval before the purchase can go ahead.

Image result for flying taxi firm Archer

Archer, A Leading UAM Company, To List On NYSE Through Merger With Atlas Crest Investment Corp The business combination agreement is expected to provide approximately $1.1 billion of gross proceeds to the combined company, assuming minimal redemptions, to fund expected future growth, including a fully committed $600 million common

Denmark To Build World-First Artificial Island For Hundreds Of Giant Wind Turbines Offshore wind offers some major advantages over land-based wind turbines.

Occidental Announces Dividend Occidental (NYSE:OXY) said today that its Board of Directors has declared a regular quarterly dividend of $0.01 per share on common stock payable on April 15, 2021, to stockholders of record as of March 10, 2021.

Saudi Aramco Looks To Lure Buyers To Pipeline Unit With $10B Loan

Lamar McKay Appointed to Apache Corporation Board of Directors McKay, 62, served as the chief transition officer of BP p.l.c. (BP) from October 2019 until his retirement in December 2020.

Apache Corporation Declares Cash Dividend on Common Shares The dividend on common shares is payable May 21, 2021, to stockholders of record on Apr. 22, 2021, at a rate of 2.5 cents per share on the corporation’s common stock.

Newstrack compiled by Oil and Gas Press / Segun Cole , Please email us your industry related news for publication info@OilAndGasPress.com

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