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Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

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Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa.

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From 2016-2019, > 90% of lithium imported to US came from Argentina and Chile

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Although use of these minerals is not restricted to battery production for EVs, they are nonetheless important for meeting the increasing demand for EV production. Global consumption of lithium in 2021 was estimated to be 93,000 tons, a 33% increase from 70,000 tons in 2020.

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue. Gas-flaring countries and trends. Click to enlarge.

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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Oil production from the Organization of the Petroleum Exporting Countries (OPEC) crude oil output surged 300,000 barrels per day (b/d) in June, close to an eight-year high of 32.73 If the situation persists, the case for a return to some kind of production cap may gain traction. million b/d in June in order to meet domestic demand.