Page 15 - AsianOil Week 31 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global way that Russia collects tax receipts from its
(NRG), in which the reader is invited to join oil resources.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: Tellurian signs offtake deal with Shell
regional beats. We hope you will like NRG's new US LNG developer Tellurian announced last
concise format, but by clicking on the headline week that it had signed a sales and purchase
link for each section the full text will be available agreement (SPA) with Royal Dutch Shell for
as before. offtake from its planned Driftwood LNG export
terminal in Louisiana. The SPA is the third that
AfrOil: Eni loses Ghanaian court appeal Tellurian has finalised in the past 10 weeks and
ITALY’S Eni has lost its appeal against a previ- brings the company’s total offtake commitments
ous court decision ordering its local subsidiary, to 9mn tonnes per year – covering almost all of
Eni Ghana Exploration, to turn over some of the Driftwood’s first phase of 9.2mn tpy.
money it was earning from the sale of oil from
the offshore Sankofa field. The Italian major had LatAmOil: Another find offshore Suriname
hoped to overturn this ruling, which was issued TOTALENERGIES (France) and Apache (US)
in late June. have made their fifth discovery at Block 58 off-
shore Suriname. The partners announced the
DMEA: Baiji strike, Nigerian losses find last week, saying in separate statements that
THIS week’s DMEA covers the return of con- they had found crude oil in Sapakara South-1, an
flict to Iraq’s largest refinery and Nigeria’s hefty appraisal well drilled in 850-metre-deep water
losses from the closure of its state-owned refin- at a site 4 km to the south-east of the Sapakara
eries. Iraq’s refinery at the northern city of Baiji West-1 discovery.
came under attack again this week when it was
struck by a rocket. Meanwhile, the state-owned MEOG: Iraq backtrack, Jurassic bids
Nigerian National Petroleum Corp. (NNPC) this THIS week’s MEOG looks at an about-face
week provided its financial statements for the 13 by one of Iraq’s largest IOC operators and the
months to February 2021, which showed that it next phase of bidding for a major gas project
made a loss in each of those months as refinery in Kuwait. Iraq’s Oil Minister announced this
utilisation remained at 0%. week that Russian oil firm Lukoil is retracting
its announced desire to sell its 75% stake in the
Euroil: Shell boosts investor appeal technical service contract (TSC) for the West
ROYAL Dutch Shell has continued efforts to Qurna-2 oilfield to Chinese companies. Mean-
boost its investor appeal, announcing on July 29 while, state-owned Kuwait Oil Co. (KOC) is
that it would buy back $2bn of shares and raise its reported to have set a September 1 deadline for
dividend by 40%. The promise of greater rewards bids to construct facilities for Jurassic gas pro-
to shareholders comes after Shell reported its duction in the north of the country.
highest quarterly profits since 2018.
NorthAmOil: Oil price boost
FSU OGM: Russia expands oil tax OIL and gas companies across North America
RUSSIA plans to transfer around 25-30% of are reporting improved performances for the
its oilfields to its new excess profit tax (EPT) second quarter of 2021 thanks to stronger crude
system by the end of the year, Deputy Finance and natural gas prices. The results are also mark-
Minister Alexei Sazanov said on July 30. edly better on a year-on-year basis given that the
Moscow launched the EPT system in 2019, second quarter of 2020 saw the peak of the first
envisaging it as an eventual replacement of global wave of the coronavirus (COVID-19) as
the export duties and mineral extraction tax much of the world went into lockdown and US
(MET) that has long served as the primary oil prices briefly turned negative.™

Week 31 05•August•2021 www. NEWSBASE .com P15