Norway announced its approval of the final investment decision for the Northern Lights project which will enable shipping, reception and sequestration of CO2 in geological strata in the Northern North Sea, approximately 2,600 meters below the seabed.
Equinor Company announced the it has appointed Ulrica Fearn as Chief Financial Officer (CFO) and Executive Vice president to take on role the position starting from 16 June 2021.
ExxonMobil announced a new plan for reducing greenhouse gas emissions by 15-20% in addition to methane intensity by 40-50% and flaring gas by 35-45% by 2025.
Shanghai International Energy Exchange (INE) approved PetroChina International Middle East as overseas storage facilities for lower Sulphur fuel oil (LSFO) futures.
Data obtained from industry sources showed that Indian oil imports from Africa and US, in November, has risen but dropped from Middle East and Latin America.
Hindustan Oil Exploration Company (HOEC) will start oil and gas production from the B-80 block to produce 8,500 barrels of oil (bbl/d) and oil equivalent per day (bbloe/d) in April 2021.
Iran planned to raise oil production in 2021, as it expected that the US sanctions will be loosened after Joe Biden becomes president.
Equinor has agreed to buy a 49% interest in Russian onshore petroleum assets from Rosneft for $550 million (mm).
The Abu Dhabi National Oil Company (ADNOC) has signed with ExxonMobil to jointly explore technology research and development (R&D) opportunities through the upstream oil and gas value chain.
Eni’s Company CEO, Claudio Descalzi, has signed a Memorandum of Understanding (MoU) with Saipem’s Company CEO, Stefano Cao, to cooperate on the identification and engineering of decarbonization initiatives and projects in the sector of carbon capture, utilization and storage (CCUS)of carbon dioxide produced by the industrial districts in Italy.
