Today's oil price
Beck Hughes, an oil field technology service company, published data on the same day, showing that the number of oil fields operated in the United States was 798 in the week up to March 29th, down by 6 from the previous week, for the first time in three weeks. By the end of the day, the New York Mercantile Exchange's May light crude oil futures price rose 0.56 U.S. dollars, closing at 64.94 dollars per barrel, or 0.87%. Brent crude oil futures for May delivery rose 0.74 US dollars to close at $70.27 a barrel, or 1.06%.
Bahrain is the smallest energy producer in the Persian Gulf. According to the official news agency in April 1st, Bahrain found the largest oil field since 1932. It is said that the oil field is located on the west coast of the island country. In the face of its shale oil and natural gas content, Bahrain's current oil and gas reserves are all dwarfed. Bahrain said it plans to provide more details on the scale and feasibility of the oilfield on Wednesday. (worldoil)
Energy information in China
3-30 China Petroleum Daily: the shale gas capacity construction of CNPC and South Sichuan is in full swing. It has become the main force for the rapid increase and storage of natural gas in southwest oil and gas field. In southwest oil and gas fields, the production work on the Changning Weiyuan national shale gas demonstration area is promoted in order, and the integration of geological and engineering is carried out. The production and efficiency of single well are continuously improved, and the capacity of gas production has been increased year by year. It is estimated that in 2018, the output of shale gas in southwest oil and gas field can reach 4 billion 100 million cubic meters, with an annual capacity of about 1 billion 960 million cubic meters, and its daily output is about 7 million cubic meters.
The Reuters's March 29th exclusive news attracted much attention. The report quoted people familiar with the report saying that China is preparing for the use of Renminbi, rather than US dollars, to settle imports of oil, which is a key progress in Beijing's efforts to build its own international currency. "Even if part of the international oil trade is settled in RMB, the potential impact will be enormous." Reported that, by the news and China to reduce the impact of value-added tax, 30, Shanghai futures exchange crude oil prices in September rose 3%.
Since today, China has begun to impose tariffs on some US imports. Meanwhile, Trump's list of taxes on China is also coming out. According to the Reuters, the Trump administration will announce a list of China's taxes on commodities this week, which will be announced by the US trade representative office before Friday (April 6th), which will exacerbate the tension between the two major economies in China and the United States. Trump administration officials have previously said that the list of goods on the list will be based on high-tech products, and the formal implementation of the tariff policy will still take more than two months.
Brazil national oil company issued a statement on 29 day that the consortium formed by Shandong Cory petroleum equipment company and the Brazil construction company, the company has signed a contract of about 1 billion 950 million rial, which will start the construction of a natural gas processing plant. According to the introduction, the project is located in the city of Iran, Rio De Janeiro, mainly processing the natural gas of the undersalt oil field in the Santos basin and will become the largest natural gas processing plant in Brazil after completion.
In March 31st, China's first automatic mass production of graphene organic solar optoelectronic devices was started in Heze, Shandong. This project mainly produced graphene organic solar cells (called graphene OPV) that can be generated in weak light. The three major problems of solar power generation are solved, such as limited application, angle sensitive and difficult modeling.
International Energy Information
Reuters, the German Rhine group (RWE)'s oil subsidiary DEA and the German chemical giant BASF (BASF) Wintershall, will sign a merger agreement in 3 and April, according to a recent report. DEA CEO MariaMoraeusHanssen said the two companies intend to complete the merger by the end of this year, and plan to go public within 18 months after completion. BASF said that the merger is expected to be completed before the end of the third quarter of this year. It is understood that after the signing of the merger agreement, it will take at least 6 months to get German regulatory approval.
The Middle East, as a treasure house of global oil resources, has a slight trend in the Middle East countries, which may have a great impact on the whole crude oil market. At present, although OPEC is struggling to reduce production to counter the US's crazy increase in production, its effect is not obvious. There is news within days that Iraq may develop new oil fields, which will add another big pressure to the future crude oil. (Caijing finance and Economics)
Ecuador's "business newspaper" reported in March 29th, Ecuador national oil company (Petroamazonas) held a conference on oil and gas competition in March 13th, held a question meeting in March 16th, and completed the bidding work on Wednesday, receiving a total of 25 companies from the investment development program. The national oil company believes that the bidding process is transparent, clear and clear, and has great significance for attracting investment. In this model, the Minor Reis (Menores) oil field block achieved positive results, with an average daily output of 425 thousand barrels per day in 2017, with a cost of $17.26 a barrel, which is expected to attract foreign capital of $700 million in the future.
Guterres, Secretary General of the United Nations, told a reporter in New York recently that the world reached a number of terrible milestone indicators in 2017: the economic cost of climate related disasters reached a record of $320 billion, and energy related carbon dioxide emissions increased by 1.4% to 325 million tons, the highest record. He appealed to world leaders to strive to reverse the emission curve and narrow the emission gap.
Due to the development of electric vehicles and renewable energy is beyond expectations, in recent years, there are more and more views on the coming peak of oil demand. Bank of America and Merrill Lynch and BP predict that the peak of demand will appear before 2040. The International Energy Agency (IEA) predicts that the demand for passenger cars will peak in 2020. Shell did not publicly refute or support the peak oil demand theory. It believes that at least in the next 20 years, global oil demand will remain.
Today, the US oil price is rising due to the decline in the number of drilling in the US. Meanwhile, the public believes that the US may re impose sanctions on Iran, which also contributed to the rise in oil prices. "The US government's attitude towards the Iran nuclear agreement is affecting the nerves of the whole oil market," the official said. As of March 29th, the U.S. drilling company closed seven drilling platforms, the first decline in the number of drilling platforms in the United States in the past three weeks. (CNBC)
During Mohamed Ben Salman's visit to the United States, the two countries signed a total of more than $400 billion in 10 key areas, of which 13 agreements were signed in the oil and gas field; the total number of projects signed in the petrochemical industry reached $72 billion, and the total of the oil and gas industry amounted to $54 billion.