Page 6 - LatAmOil Week 43 2020

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Time for guarded optimism

Certain recent developments illustrate the scale of ongoing challenges for

the oil and gas industry, but various players are forging ahead undeterred

GLOBAL WELCOME to the latest edition of NewsBase’s Africa: Output concerns, upstream deals
Roundup Global (NRG), in which our team of Two of Africa’s largest oil producers, Libya and
international editors provide you with a snap- Angola, are focusing on production-related mat-
shot of some of the key issues affecting their ters this week.
regional beats. Get the NRG Oil & Gas Editor’s As of last week, Libya’s National Oil Corp.
Picks to your inbox every week for free. Just sign (NOC) had succeeded in bringing crude oil out-
up here. put levels up to 500,000 barrels per day. Yields
In this week’s NRG, our editors highlight prom- have now topped 560,000 bpd and are set to rise
ising signs of progress in Africa, Brazil and the Rus- even further, following the signing of a ceasefire
sian Arctic, developments in natural gas by China’s agreement between the UN-backed Govern-
CNOOC and a re-evaluation by Saudi Aramco of ment of National Accord (GNA) and the Libyan
its Yanbu oil-to-chemicals complex. National Army (LNA), which is headed by Khal-
Meanwhile, efforts to move towards the adop- ifa Haftar.
tion of cleaner energy are having an impact. One The accord has allowed NOC to lift force
such effort has involved LNG, and our report on majeure on the rest of the country’s produc-
this development spills also addresses the compet- tion and transport infrastructure, including
ing angles of price sensitivity and lowering carbon the Ras Lanuf and Es Sider oil export terminals.
emissions. The company now anticipates that yields will
A spotlight falls on Qatar’s LNG, while major increase to 800,000 bpd or more within the next
deal moves in Canada also feature. few weeks.

P6 www. NEWSBASE .com Week 43 29•October•2020