Saudi Aramco more than doubled 2021 net income, at US$110 billion, drastically decreasing its net gearing.
in 2022, Saudi Aramco plans to boost its upstream capex by US$40-50 billion
Rockcliff Energy, a US shale gas exploration company, hit US$4 billion sale in Texas, 1 billion cubic feet of production recently.
EU Members Torn Over Further Russia Sanctions. Embargo on Russia played down by Germany, with the country claiming that any dependence reduction should be gradual.
Saudi Arabia Expects More Houthi Attacks. Latest attack on Sunday triggered a fire at a Jeddah oil storage facility.
US Oil Service Majors Still Operate Inside Russia. US oilfield services firms Halliburton and Schlumberger declared they will be maintaining current portfolio in Russia, in line with international laws and sanctions. (??? Huh? US companies can ignore sanctions?)
Canada’s Rail Strike Difficult to Extinguish. Strike at Canada's second-largest Canadian Pacific Railway (CP). Large volumes of wheat and potash fertilizers stuck amid soaring prices.
Lithium Prices Are Shooting Through the Roof. Chronically low lithium inventories continue to push prices of the metal to new peaks, with battery-grade lithium carbonate already pricing around $77,000 a tonne, up 10% in March alone, meaning that last year’s fivefold appreciation is still far from over.
Aluminum Soars on Australia’s Sanctions. The price of aluminum soared this week after Australia banned the export of alumina or aluminum ores to Russia, disrupting Rusal’s refining operations as well as sending prices to $3,520 per metric ton, only a handful dollars away from the peak reached two weeks ago.
Shale Lifts Argentinian Oil Production. Increasing production from Argentina’s large Vaca Muerta shale field, up at 222,000 b/d.
Belgium announced it would extend 2 currently operating nuclear power plants in the country, by another 10 years to 2035
Saudi Aramco seeks to increase its spare production capacity to 13 million b/d by 2027.
Britain Wants to Nationalize Gazprom UK Subsidiary. Gazprom supplies roughly 20% of Britain’s commercial gas volume.
Oilprice.com
The views expressed as those of the writer and do not necessarily reflect those of MMKtT.
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