Oil prices continue to fall

Confidence in the new Covenant epidemic has strengthened the US dollar, with oil prices under pressure this week and set to close 7 percent this week.

Friday, August 20, 2021

Oil prices continued to plummet on Friday, reaching a weekly low of 7%. Covide’s fears are still rising sharply, and the Federal Reserve’s resilience has eased this year, with the U.S. feeling stronger. IC Brent fell below $ 66 a barrel on Friday morning, while WTI prices fell to $ 63 a barrel.

OPEC compliance will drop by 109% in July. OEC’s Joint Technical Committee reported compliance with OPEC + product quotas by 109% last month and 3 percent since June. Saudi Arameco has reduced its one-party supply and has reduced its dominance among OPEC members by 116%.

Marathon Forms Renewable JV with ADM. American filter Marathon Petroleum (NYSE: MPC) Created a key renewable-oriented partnership with Arc-Daniels-Midland (NYSE: ADM), With 75% of the latter, producing soybean oil that can only be sold at a diesel refinery for a marathon.

Related – What happens if we stop pumping fuel tomorrow?

Konoko Phillips is selling Wilson’s assets. American Major ConocoPhillips (NYSE: COP) Bloomberg reports that the North Dakota Wilson Basin is selling an estimated $ 200 million worth of oil products, according to Bloomberg. NYL: RDS.A Permian portfolio ready to be captured.

Bronze prices rose to prominence in August. LMI’s three-month tin prices rose to $ 36,000 per metric ton, and exchange rates fell to more than 3,250 metric tons as major producers (Indonesia, Malaysia, China) failed to grow globally. If there are price signs.

Tesla penetrates Japan’s energy storage market. US-based car manufacturer Tesla (NASDAQ: TSLA) Signs an agreement with Japanese companies to build a 6.1-megawatt power storage facility using megapac battery technology to stabilize electricity exchange and grid output.

Mersk will be registered for the first carbon-neutral ship. Danish Shipping Company AP Moller-Maersk (CPH: MAERSK) For the first time, a carbon-neutral ship has signed a contract for the supply of green methanol. A.D. It is expected to be operational by 2023. If a ship with methanol fuel meets expectations, the sample could increase relatively quickly, writes Reuters.

Total Energy Exercises The right to dig Suriname. French oil and gas major Total Power (NYSE: TTE) In Suriname, Mars used a drilling rig to extend its use, adding another rating to the area, suggesting further discoveries.

Synopek marked another gas discovery. Chinese State Energy Company Sinopec (SHA: 600028) Another gas discovery in the Sichuan Province reported that 1.2 check (34 BC) added additional reserves to the Zongjiang Field Pool. Again, gas production is low throughput and is classified as rigid.

Chevron invests in waste from hydrogen tech. American Major Chevron (NYSE: CVX) By investing in steam and CO2 recycling into biomethane waste, it could be invested in an undisclosed US downstream resource by investing in the Raven SS Hydrogen Company, which seeks to produce hydrogen and biofuels.

Norway faces opposition from activists. Sture crude terminal in Norway, b Equinor (NYSE: EQNR), Activists from the riot riot broke out around the site and disrupted the installation process, forcing them to stop working on the Osseberg installation.

Exxon praises Brazil’s opportunities ExxonMobil (NYSE: XOM) Officials have praised Brazil’s low-carbon production opportunities, with pre-salt fields generating less CO2, and the US major may want to increase its current portfolio by more than 20 blocks in the next two licensing rounds in 2021.

Nord Stream-2 gas pipeline 99% complete. The controversial Nord Stream-2 pipeline, which supplies Russian gas to Germany via the Baltic Sea, is 99% ready to meet its construction deadline by the end of August. Russian gas giant Gazprom (MCX: GAZ) This year, it has reiterated its intention to bring NS2 to the stream.

CCM sees high profits on lithium prices. the world The second largest lithium producer, Chilean SQM (NYSE: SQM)H1 revenues rose 65% year-on-year on the back of lithium prices and tight supply, with average sales expected to increase by more than 10,000 per metric ton in Q4 2021, Reuters reported.

Denmark wants to store CO2 in empty oil tanks. The Danish Greensnd project has reached another milestone after seeing 29 other companies and research institutes planning to capture CO2 in oil-rich reservoirs join the next phase of testing.

Nigeria needs money again. Niger State Minister of State for Niger Tayo Alasuradura said the Nigerian government is working hard to demand up to $ 4 billion in unexpected payments from major oil and gas companies, claiming that they have not paid 3% of their annual budget. Niger Delta Development Commission. Promoting government racism can accelerate its emergence as a major issue Royal Dutch ll l (NYSE: RDS.A) Or Chevron (NYSE: CVX).

By Michael Kern for Oilprice.com

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