Page 6 - LatAmOil Week 47 2020

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Forward momentum

Various oil and gas plans around the world are moving forward despite

ongoing uncertainty related to the COVID-19 pandemic and oversupply jitters

COMMENTARY WELCOME to the latest edition of NewsBase’s firms have reportedly shown interest in acquiring
Roundup Global (NRG), in which our team of ExxonMobil’s 34.7% stake in the supergiant West
international editors provide you with a snap- Qurna-1 oilfield. Positive news has also come from
shot of some of the key issues affecting their elsewhere in the Middle East, with the Abu Dhabi
regional beats. Get the NRG Oil & Gas Editor’s National Oil Company (ADNOC) announcing it
Picks to your inbox every week for free. Just sign has found 24bn barrels of oil across one unconven-
up here. tional and one conventional discovery.
Lingering uncertainty over the impact of the Elsewhere, two separate memoranda of under-
coronavirus (COVID-19) pandemic on energy standing (MoUs) have been signed for LNG-to-
demand is not stopping various oil and gas ini- power projects in Vietnam. All these separate
tiatives from cautiously moving forward. Over moves seem to point to expectations of more oil
the past week, Norway launched its 25th frontier and gas activity as the industry looks ahead to 2021.
licensing round, aimed at driving forward explora-
tion in relatively unexplored regions. Africa: PIB and production costs in Nigeria
Meanwhile, buyers have emerged for stakes in Concerns about production costs and key legis-
various oil projects. Russian state oil company Ros- lation are in the headlines this week in Nigeria.
neft appears to have finally succeeded in attracting Legislators have already acknowledged that
a foreign partner to its flagship Vostok Oil project in they will miss their original deadline of Decem-
the Arctic, agreeing to sell a 10% stake in the venture ber 31 for passage of the Petroleum Industry Bill
to Trafigura. And in Iraq, two state-owned Chinese (PIB).

P6 www. NEWSBASE .com Week 47 26•November•2020