Russia’s Ministry of Energy agreed to an incentive plan that will allow PJSC Lukoil to complete the deep conversion, delayed coking complex now under construction at subsidiary LLC Lukoil-Nizhegorodnefteorgsintez’s Kstovo refinery in central Russia.
After a challenging 2020, oil and gas demand recovery is proving good for drilling activity. Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels. In 2022 drilling is set to increase even more.
Equinor Energy AS discovered oil in the North Sea southwest of Fram field. The discovery—the largest so far this year on the Norwegian continental shelf—is considered commercially viable and will be considered for tie-in.