Rig Count, Oil Prices,Energy Newstrack to 15/03/2021

EIA’s estimate for oil production in the United States for the week ending March 5 rose by 900,000 bpd to 10.9 million barrels with higher oil prices and demand. The Permian’s total rig count rose by 1

WTI and Brent were trading slightly Down on Monday.

Commodity Prices At press time 15 MarchUnitsPrice $Change
Crude Oil (WTI)USD/bbl64.96Down
Crude Oil (Brent)USD/bbl68.52Down
Bonny LightUSD/bbl68.37Up
Natural GasUSD/MMBtu2.53Down
OPEC basket 12/03/21USD/bbl68.14Up

Neptune Energy Annual Report reveals $2.1bn support for European economies European activities supported 11,400 jobs and contributed $2.1 billion gross value added (GVA) in 2020, according to the company’s Annual Report and Accounts, published today.

The economic impact analysis, from Oxford Economics, quantified the direct impact Neptune has on the UK, Norway, Germany and the Netherlands through its operations, the indirect impact generated through its supply chain and the induced impact due to spending by Neptune staff and suppliers’ staff.

Oil Exploration To Hit Record High In Guyana Guyana’s exploration activity will be spearheaded by ExxonMobil as the operator of the Stabroek and Canje blocks. Having set an ambitious divestment target of $15 billion by offloading mature assets in Asia, Europe, and Africa, the U.S. supermajor is expected to prioritize investments in high-value assets such as Stabroek.

Electric Vehicle Startup Uses Solar Power to Charge Up Cars Laurin Hahn, the founder and CEO of German startup Sono Motors, believes that the idea is still worth exploring. His approach is intuitive: using solar at maximum by wrapping an entire car in solar cells.

Unprecedented plans and investments in Chinese PV production capacity In 2020, despite the impact of Covid-19 on both China and the global economy, an unprecedented wave of PV production capacity expansions consumed China’s PV industry.

Nissan plans 37,000-panel solar farm expansion at its Sunderland plant The proposed 20MW extension will see 22.5 hectares of solar panels added to the Washington site, the equivalent of around 16 football pitches.

Nissan leaf solar

Solar tile made in Germany German manufacturer Autarq is selling its solar tiles at a price ranging from €25 to €30 per piece. Each tile has a power output of 10 to 12.5 W, depending on the size, and a power density of 127–135 W per square meter.

670 W solar panel Chinese PV manufacturer Trina Solar has launched a new Vertex solar module with a power output of 670 W.

Africa and Middle East’s oil and gas sector saw a rise of 6.45% in cross border deals A total of 33 cross border deals worth US$1.69bn were announced for the region during the Q4 2020, against the last four-quarter average of 31 deals.

Baker Hughes Rig Count to 12th March 2021

RegionPeriodNo. of RigsChange
U.S.A12h Mar. 2021402-1
Canada12th Mar. 2021116-25
Baker Hughes Rig Count Overview & Summary Count
Baker Hughes (NYSE: BKR) will hold a webcast on Wednesday, April 21, 2021 to discuss the results for the first quarter ending March 31, 2021. The webcast is scheduled to begin at 8:00 a.m. Eastern Time (7:00 a.m. Central Time). A press release announcing the results will be issued at 6:30 a.m. Eastern Time (5:30 a.m. Central Time).

IEA-COP26 Net Zero Summit Energy and climate leaders from US, China, EU, India and other key economies to boost clean energy momentum Global gathering on 31 March will strengthen international efforts to accelerate clean energy transitions worldwide in the run-up to COP26 in November and beyond

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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