Rig Count, Oil Prices,Energy Newstrack to 01/04/2021

Rig Count, Oil Prices,Energy Newstrack to 01/04/2021

Oil prices still erratic due to optimism over a U.S. government spending plan. OPEC and its allies production curb decision and parts of Europe going into a third lockdown. On Thursday. Brent crude was up by 1.5%, at $63.65 a barrel. WTI oil was up 1.7%, at $60.15 a barrel.

U.S. oil production rose to 11.0 million bpd during the week ending March 19, according to the latest data from the Energy Information Administration.


Commodity PricesUnitsPrice $Change
Crude Oil (WTI)USD/bbl59.65Down
Crude Oil (Brent)USD/bbl63.11Down
Bonny LightUSD/bbl62.80Down
Natural GasUSD/MMBtu2.63Up
OPEC basket 31/03/21USD/bbl63.37
At press time 01 April, 2021

Low-cost solar-powered water filter removes lead, other contaminants The device resembles a large sponge that soaks up water but leaves contaminants—like lead, oil and pathogens—behind.


Latam diesel imports via WAF surge in March Latin America’s diesel market is heavily reliant on imports with close to a 70% share of imports originating from the US Gulf Coast (PADD 3) – during Dec 2020 to Feb 2021.


Global Diesel Flows Surge in Unsustainable Manner Vortexa’s Market Analysis team details the massive flows, investigates the underlying rationales, and discusses likely repercussions of this development for the next weeks and months. The wave of diesel at sea is so huge that it is set to affect most industry players in some way.


Nissan production, sales and exports for February 2021 Nissan’s global production in February increased 10.6% from a year earlier.



Europe’s lockdowns restrain global fuel demand recovery Germany, Europe’s biggest oil consumer, has extended its lockdown until April 18 to contain a third COVID-19 wave.


Lloyd’s of London sees ‘large loss’ due to Suez Canal blockage Liability insurance claims for ships and cargo impacted by the delay are expected to fall initially to the container ship Ever Given’s liability insurer, UK P&I Club. But UK P&I Club will also use reinsurance, some of it in the Lloyd’s market, industry sources say.


Murban Futures Contracts commence trading The introduction of the world’s first Murban Futures contract is the latest step in ADNOC’s ongoing transformation into a more market and customer centric organisation. By making Murban a freely traded crude, similar to Brent or WTI, customers have better price transparency, flexibility to hedge and manage risks and increased access to Murban crude.


Q FWE’s Offshore Wind Turbine Index Springs to 21,288 Turbines in March This quarter shows 404 global projects, a gain of 82 projects since December, comprising 21,288 individual turbine units representing a CapEx of $626.3 billion.


IEA-COP26 Net Zero Summit Top international energy and climate leaders from more than 40 countries took part in the IEA-COP26 Net Zero Summit to identify how to work together to reduce global greenhouse gas emissions and meet the goals of the Paris Agreement.


ConocoPhillips Provides Preliminary First-Quarter 2021 Operational and Financial Update The company expects to report first-quarter 2021 production volumes of 1,470 to 1,490 thousand barrels of oil equivalent per day (MBOED). This estimate includes approximately 50 MBOED of unplanned weather impacts experienced throughout the Lower 48 as a result of Winter Storm Uri. Production in the Lower 48 was fully restored in March.


Baker Hughes Rig Count to 31st March 2021

RegionPeriodNo. of RigsChange
U.S.A26th March 2021417+6
Canada26th March 202181-11
InternationalMarch 2021715+14

PGNiG and Naftogaz sign E&P MoU PGNiG’s contribution to a potential cooperation will include, among others, competences in the advanced gas exploration methods, such as three-dimensional seismic survey, the results of which the company has been using for years in well designing.


Final Investment Decision made for Barossa field development BW Offshore is pleased to announce that Santos Ltd. and its partners have made Final Investment Decision (FID) for development of the Barossa gas field 300 kilometres offshore Darwin in Australia.


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