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1. Repsol upstream production slips 8% at 648,000 boe/d in 2020
MOSCOW
(MRC) -- Spanish integrated energy group Repsol reported Jan. 19 that its
estimated upstream oil and gas production in 2020 decreased 8% year on year at
648,000 b/d of oil equivalent - its lowest annual total since the 2015 purchase
of Talisman - with Libyan interruptions and the oil price impact from the
pandemic weighing on volume, according to S&P Global. The full-year total
was nonetheless in line with the company's postpandemic revised target of
650,000 boe/d, which it sees through to 2030. By region, Europe and Africa
showed the largest production decline in 2020, falling 29% year on year to
86,000 boe/d. Repsol's share in the Libyan El Sharara field can supply up to
39,000 boe/d net to Repsol, but output suffered interruptions throughout the
year following a shutdown at the field in January 2020 and a blockade of oil
terminals.
http://www.mrcplast.com/news-news_open-382488.html
2.
Industry welcomes President Biden, US reentry into Paris accord
MOSCOW
(MRC) -- Industry groups welcomed President Joe Biden on his first day in
office, vowing to work together with the administration on its stated goals to
address the COVID-19 pandemic and climate change in its early days. The American
Chemistry Council particularly praised Biden for following through on his "Day
One" promise of signing an executive order rejoining the Paris Agreement and
committing the United States to lower carbon emissions, reported Chemweek.
“(ACC) and its members welcome President Biden’s executive decision to rejoin
the Paris Agreement,” ACC said in a statement. “America’s chemical and plastics
manufacturers - a primary driver of the American economy, American innovation
and the creation of emissions-reducing technologies - support meaningful efforts
to reduce emissions for the health of our planet and future generations.” The
Paris Agreement seeks to limit GHG concentrations to a level consistent with a
global warming of well below 2 degrees Celsius above pre-industrial levels. It
was signed in 2015 at the Sustainable Innovation Forum COP21 and ratified by 189
countries. Former President Trump withdrew the US from the Paris accord in 2017,
a move that only became effective in November of last year.
http://www.mrcplast.com/news-news_open-382516.html
3.
Oil above USD56 on US stimulus hopes ahead of Biden inauguration
MOSCOW
(MRC) -- Oil rose above USD56 a barrel on Wednesday, supported by expectations
that the new US administration will deliver massive stimulus spending that would
lift demand, as well as by OPEC curbs and forecasts for a drop in US crude
inventories, reported Reuters. US Treasury Secretary nominee Janet Yellen on
Tuesday urged lawmakers to "act big" on pandemic relief spending. A fall in the
dollar after the comments helped oil to rally, analysts said. "This provided a
good backdrop for oil and other risk assets," said Stephen Brennock of broker
PVM. "While the near-term demand environment continues to be gripped by weakness
and uncertainty, the future is brightening."
http://www.mrcplast.com/news-news_open-382499.html |
