World News Week (2020.08.04)

Total took an $8.1 billion write-down on special assets

Total reported $8.1 billion in special asset impairments in the second quarter, including $1.5 billion in Canadian oil sands assets and $800 million in Australian liquefied natural gas assets. Among them, Canadian oil sands assets wrote down $7 billion, accounting for 87.5%. Total said the write-downs were mainly in response to short-term oil price adjustments and climate change targets.

Rosehill Resources filed for bankruptcy protection

July 27 (Bloomberg) -- As oil prices tumbled, Permian oil rig Rothschild Resources Was forced to seek a debt restructuring and file for bankruptcy protection in Texas. The company's oil drilling activities are mainly in the Delaware Basin, west of the Permian basin.

Israel will raise $2.25 billion for the Leviathan field

Israel's Delek drilling Company plans to raise $2.25 billion through an international bond issue to help finance the development of the Leviathan gas project on Israel's Mediterranean coast, the offshore engineering website said On July 27. The $3.6 billion Leviathan field, co-owned by U.S. firm Noble Energy and Ratio Oil, began production in late 2019 and already supplies gas to Israel, Egypt and Jordan.

Halliburton will provide cloud software for Malaysia Oil

Halliburton will deploy exploration and production cloud software for Petronas to support the company's upstream digitization plan after receiving a license to expand its operations from Petronas, Rigzonesaid July 29. The software connects operators' employees to the cloud and USES machine learning and artificial intelligence to facilitate knowledge sharing across the portfolio.

Canada invested $58.4 million in its emissions-reduction program

The Canadian province of Alberta has committed $58.4 million to ERA's Gas Challenge project through its Emissions Reduction Initiative (ERA), Oil Monsterreported July 29. The Gas Challenge project was launched in October 2019.

Oil demand in the Asia-Pacific region will grow by 25 per cent in 2040

According to wood Mackenzie's website on July 28, oil demand in the Asia-Pacific region will rise 25 percent from 2019 to 44.8 million barrels per day in 2040. Long-term oil demand growth in the Asia-Pacific region was driven by driving and demand from the petrochemical sector. In the long run, Asia is likely to face a structural gasoline supply shortage due to shortages of petrochemical feedstocks and increased demand for gasoline.

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