1. Turkmenistan oil and gas investment forum will be held in Turkmenistan and Dubai from March 29 to 30
The International Investment Forum on attracting foreign investment in Turkmenistan’s oil and gas industry (OGT 2022) will be held in traditional and online forms in Turkmenistan and Dubai from March 29 to 30. The event was jointly organized by Turkmenistan natural gas Konzern, petroleum Konzern, geological Konzern, Turkmenistan state-owned chemical enterprise and British Petroleum consulting company Gaffney. The purpose is to carry out regional dialogue on promoting the sustainable development of domestic oil and gas resources and attract foreign investment for the domestic oil and gas industry.
The participants included representatives of PetroChina, socar, Petronas, Eni group, Baker Hughes, Vitol and other international energy enterprises. OPEC, IEA, dewa and other international energy organizations will also attend the meeting.
2. Schlumberger suspended new investment and technology deployment in Russia
Olivier Le peuch, chief executive of Schlumberger, said on Monday that it had decided to immediately stop the deployment of new funds and technology to the Russian business, but would retain the existing production operations there. Earlier, Baker Hughes and Halliburton had issued similar statements.
The world’s three major oil field contractors have successively suspended new investment business in Russia, which may undoubtedly bring challenges to Russia’s fossil fuel exploration in the future. Russia’s oil industry relies on foreign technology, equipment and expertise to maintain its domestic production.
3. Caspian oil pipeline (CPC) shutdown maintenance
The Caspian pipeline Union (CPC) said in a statement on March 22 that the CPC pipeline terminal stopped loading crude oil because the storm damaged the loading berth at the port of novorossisk. Two of the three tanker loading facilities at novorossisk port in the Russian Black Sea are no longer operational. The Deputy Minister of energy of Russia said that the maintenance of offshore facilities may last for 1.5 to 2 months, and said that this may reduce oil exports by about 1 million barrels / day.
The full name of CPC pipeline is Caspian pipeline Consortium (Caspian pipeline consortium), which connects the oil fields in western Kazakhstan and the oil fields along the Caspian Sea of Russia to the Black Sea port of novorossisk. The total length of the pipeline is 1511km. In 2018, the Caspian crude oil pipeline was expanded, and the annual transmission capacity increased to 67 million tons. Caspian crude oil pipeline is the main channel for Kazakhstan’s crude oil export, accounting for more than 80% of the total pipeline oil transportation.
4. Eni found a large amount of oil in Algeria
Italian energy giant Eni and Algerian state-owned oil company Sonatrach announced on Monday that major oil and associated natural gas have been found in the zemlet El arbi concession in the northern basin of berkine in the Algerian desert.
The concession is operated by the joint venture of Eni and Sonatrach, holding 49% and 51% of the shares of the joint venture respectively. It is preliminarily estimated that the scale of the discovery is about 140 million barrels of oil.
5. Vitol group, an oil trading giant: the demand gap will expand in the next few years
Vitol, a global energy trading giant, said oil demand is growing and is expected to exceed the level before covid-19 this year, and it is expected that oil demand will continue to grow in the next 10 years.
But it said that at the same time, limited investment in oil production would widen the demand gap in the coming years.
6. Shale gas producer rockcliff energy LLC. is considering selling for no less than $4 billion
Shale gas producer rockcliff energy LLC. is said to be seeking to sell for $4 billion or more. The privately held drilling company is working with several consultants to evaluate the acquisition intentions of its U.S. competitors.
Founded in 2015, the company extracts the equivalent of 1 billion cubic feet of natural gas from the Haynesville shale in East Texas every day.
According to an investor report last November, rockcliff has increased production 15 times since its inception and has more than 1000 targets that have not yet been drilled.
Post time: Mar-31-2022