Rig Count, Oil Prices, Newstrack to 25/01/2021

IEA’s January Oil Market Report projects that oil demand will bounce back to 96.6 mb/d this year,

Keystone XL Pipeline, canceled by Biden. Canada Unhappy. Will fallout Lead to the Courtroom?

Commodity At press timeUnitsPrice $Change
Crude Oil (WTI)USD/bbl52.190.00%
Crude Oil (Brent)USD/bbl55.370.00%
Bonny LightUSD/bbl54.720.00%
Natural GasUSD/MMBtu2.570.00%
OPEC basket 22/01/21USD/bbl54.690.00%
OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Shell Says Hydrogen Is Heavy Transport’s Future A Deloitte report commissioned by Shell finds that the heavy-freight sector is increasingly planning for a switch to hydrogen. Hydrogen will be the key energy source for global road freight, according to a new report commissioned by European oil major Shell. Electrification is the most economic and environmental solution for smaller delivery vehicles.

Biden’s plan to cut U.S. oil production becomes clearer according to people familiar with the plans, Biden will go even further: suspending the sale of oil and gas leases on federal land, where the U.S. gets 10% of its supplies.

Iran boosts oil production to pre-sanction levels Iran has been subject to tough U.S. sanctions since 2018, when the administration of then-President Donald Trump unilaterally withdrew from an international deal that restricted the Middle Eastern country’s nuclear activities.

Wind accelerates past nuclear and hydro in post Covid power markets This has been triggered by the recent surge in national renewable pledges, the election of a Green US President and plummeting technology costs. Wind power will provide the backbone to the electricity sector’s transformation over the coming decade, according to a new report from Rethink Energy

UK solar capacity grows by 545 MW in 2020, 60 percent of the new capacity in 2020 came from ground-mounted PV systems. The remaining 40 percent was installed on rooftops, with the majority of this located on commercial and industrial buildings.

BIOGEST builds 1st biogas plant in Idaho received its first US order to build an agricultural biogas plant in Idaho. The plant has a thermal output of 90,000 MMBTU p.a. and operates on 120,000t of cow manure per year.

Baker Hughes Rig Count to 22nd January 2021

RegionPeriodNo. of RigsChange
U.S.A15 Jan. 2021378+5
Canada15 Jan. 2021172+11
International30th Dec. 2020665-4
Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. [Read more…]

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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