1. Indian oil giant to expand oil exploration
Indian oil and gas minister Hardeep Singh Puri said last Thursday that India’s state-owned oil and gas company (ONGC) plans to quadruple the exploration and development area by 2025, from the current 127000 square kilometers to 500000 square kilometers.
As the world’s third largest oil importer, India seeks to reduce its heavy dependence on crude oil imports.
2. Shell was ordered to suspend exploration in South Africa
A high court in South Africa issued an injunction last Tuesday to prohibit shell from conducting seismic tests on South Africa’s pristine wild coast. The ruling came after strong public protests against shell’s project on the wild coast of South Africa. Shell insists that this practice has been used to explore oil and gas for decades, but still expresses its willingness to respect the decision of the local court and suspend exploration.
3. Mexico will stop oil exports in 2023
Recently, the CEO of Pemex said at a press conference in Mexico City that Mexico would stop exporting crude oil in 2023 and reduce its export volume to 435000 barrels / day in 2022; To focus on its domestic self-sufficiency.
Mexico is one of the world’s largest oil producers and the fourth largest crude oil producer in the Americas after the United States, Canada and Brazil. If Mexico’s action is implemented, it will not only have a significant impact on the international crude oil market, but also “contribute” to the ongoing global supply chain restructuring.
4. Firebird energy acquires chevron Midland basin assets
Firebird Energy announced that it had recently completed the acquisition of Chevron’s operating assets in the Midland basin. The acquisition includes about 21000 acres of assets (99% of the operating area) in ector, Midland, crane and Upton counties.
Post time: Jan-04-2022