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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Oil and gas investments and exploration in 2021

    Rocky
    Rocky
    Rocky
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    • Post n°1

    Oil and gas investments and exploration in 2021 Empty Oil and gas investments and exploration in 2021

    Post by Rocky Thu 23 Dec 2021, 5:56 am

    Oil and gas investments and exploration in 2021

    •  Time: 12/22/2021 17:19:51
       
    •  Reading: 1,703 times

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    {Economic: Al Furat News} With the pressures of the pandemic and the rush to switch to clean energy before formulating an appropriate mechanism in order for it to be a calm and smooth transition, and with the rising voices of combating climate change and industrial pollution, the pace of government and private investments in hydrocarbon energy projects, whether in oil or gas, declined, which Pushing new explorations in 2021 to fall to its lowest level in 75 years.
    The useful summary.. In important news, you can find it on Al-Furat News Channel on Telegram.. [You must be registered and logged in to see this link.]
    At the same time, the major industrial countries that lead the anti-pollution trends are still calling for more exploration and investments, but outside their countries, in a contradictory and pragmatic behavior that raises a lot of surprise and questions about the extent of the elasticity and flexibility of standards and moral code for these countries.
    The march of oil from the beginning of the epidemic until the metamorphosis “Omicron”
    December 2019
    - the price of oil is stable at 66 dollars.
    - China announces the discovery of cases of a virus that is being identified and dealt with in the city of "Wuhan", "Hubei Province".
    January 2020
    - Oil drops to $55.
    The World Health Organization announces the mobilization of its three levels: international headquarters, regional headquarters, and country offices.
    February 2020
    - Oil drops to $48.
    The World Health Organization holds a forum to study what is happening in China and uses 400 experts, scientists and doctors, then sends teams to investigate in “Wuhan.”
    March 2020
    - The World Health Organization declares “Corona” a pandemic with the ability to spread widely, and calls on all countries of the world to prepare.
    Oil drops to $22.
    April 2020
    - Oil drops to $20.
    Demand for oil drops in the first quarter of the year to 85-88 million barrels per day, compared to 95-98 million barrels per day before the pandemic.
    OPEC and its allies decide in an extraordinary meeting to reduce production by 10 million barrels in May and June, then reduce it to 8 million barrels in the rest of the year, then reduce it to 6 million barrels from the beginning of 2021 until April 2022.
    May 2020
    The major central banks intervene with more than $8 trillion to stimulate demand and pull the economy out of recession with a series of measures from lowering interest rates, launching huge quantitative easing programs, various tax exemptions, subsidies and grants for affected families and companies.
    Oil rises to $38.
    December 2020
    - The success in reaching the first vaccine and the start of production and distribution operations, which supported the market optimism about the recovery of energy demand.
    Lifting a number of restrictions and closures.
    By the end of the year, oil was able to recover part of its recovery compared to before the pandemic.
    – OPEC and its allies decide at the 12th meeting at the ministerial level to raise production by an additional 500,000 barrels, which means reducing production cuts to 7.2 million instead of 7.7 million barrels until the first quarter of 2021.
    – Oil reaches $51.
    July 2021
    – OPEC and its allies decided at the 19th meeting at the ministerial level to gradually increase oil production by 400,000 barrels per day on a monthly basis, starting in August.
    – Oil exceeds its pre-pandemic price levels and the market is recovering with a significant increase in energy demand.
    Oil reaches $75.
    Summer of 2021
    Violent climatic phenomena in different geographical areas of the world:
    1- German floods, which reached seven times the usual height.
    2- Snow in Brazil, hitting 40 cities.
    3- The temperature in North Africa approaches 50 degrees.
    4- The torrential rains in China reached the feet of the giant Leshan Buddha statue.
    5- The temperature in Finland lasted for 31 consecutive days, above 25 degrees.
    6- Floods in India, followed by storms and then landslides.
    7- The heat in Iran causes a water shortage.
    Climate change is causing a decline in the productivity of a large number of agricultural crops, which has led to a decrease in the supply of some types of grain and food products, pushing food prices to record levels.
    Climate change and extreme phenomena are causing the voices of trends calling to reduce the extraction, investment and use of fossil fuels to grow louder.
    What makes the climate polluted in order from most to least polluted?
    1- Vehicle emissions.
    2- Fuel combustion.
    3- Dust and dirt.
    4- Factory emissions.
    5- Use of solvents.
    6- Fires due to human error.
    7- Fertilizers and harmful pesticides.
    8- Burning crops.
    9- Indiscriminate disposal of waste.
    10- Radioactive waste.
    11- Deforestation.
    12- Reducing the construction of green spaces.
    October 2021
    Huge pressures on OPEC and its allies to increase production plans and raise oil supply.
    – OPEC and its allies decide not to respond to pressure, that the current supply is suitable for demand and that production will outpace consumption by the first quarter of 2022.
    – OPEC and its allies respond to critics that panic is what raises prices, not the amount of supply, which is more than enough for energy demand.
    - OPEC and its allies decided at the 21st meeting at the ministerial level to keep the increases planned in previous meetings unchanged.
    Oil reaches its highest level since 2018 at $83, as a monthly average.
    The climate summit in Glasgow began on October 31.
    The International Energy Agency has warned that extreme volatility in energy markets will remain a risk unless investment in clean energy triples in the next decade.
    November 2021
    - Major oil importers: The United States, China, South Korea, and Japan decide jointly to coordinate the withdrawal of the strategic oil reserve to disturb oil prices and push it down, but the attempts failed.
    The appearance of the mutant “Omicron” in some countries of the southern African continent, and in 48 hours, oil fell by 11%.
    Possibilities and news of closures and restrictions on travel, movement and employment return in a number of countries in the world, especially the major importers of energy.
    Oil drops to $72.
    December 2021
    - Rystad Energy says global oil and natural gas discoveries are heading this year to a 75-year low.
    – An analysis of the Energy Research Company showed that the quantities discovered globally since the beginning of this year until the end of last November amounted to 4.7 billion barrels of oil equivalent, which would be the lowest level since 1946 if no major discoveries were made this month.
    - “OPEC” believes that the world needs investments of 11 trillion dollars from now until 2040 in order to keep the supply of oil in line with what is required.
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