Page 16 - LatAmOil Week 13 2021

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global business of the UK-based group Ineos, which
(NRG), in which the reader is invited to join produces 33,000 barrels of oil equivalent per day
our team of international editors, who provide a (boepd), including 1.5bn cubic metres per year
snapshot of some of the key issues affecting their of gas.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline FSU OGM: BP and SOCAR report fresh
link for each section the full text will be available Caspian gas find
as before. BP and Azerbaijan’s state-owned SOCAR have
made an ultra-deep gas and condensate dis-
AfrOil: Mozambique’s security setback covery in the Caspian Sea after 14 months of
The Mozambique LNG consortium has suffered drilling. The well at the Shafag-Asiman block
another serious setback. Total, the operator of was sunk to a depth of almost 7,200 metres. It is
the group, has suspended operations and evac- the first borehole to be completed in years in the
uated nearly all workers from the site on the Azeri section of the Caspian Sea, where explora-
Afungi Peninsula where it has been building a tion activity has been muted because of low oil
gas liquefaction plant since March 24, when the prices and rig scarcity.
nearby town of Palma was besieged by fighters
loyal to Ahlu Sunnah Wa-Jamo (ASWJ). GLNG: Cheniere’s Corpus Christi Train 3
approved to enter service
AsianOil: India continues to rail against oil The third train at Cheniere Energy’s Corpus
supply cuts Christi LNG export terminal on the Texas Gulf
The Indian government maintained its pressure Coast has been approved by the US Federal
on OPEC+ and Saudi Arabia this past week, Energy Regulatory Commission (FERC) to
pushing for an easing in production cuts in order enter commercial service. This comes after the
to lower international oil prices. Indian Minis- train has already been operating in test mode for
ter of Petroleum and Natural Gas Dharmendra months.
Pradhan said on March 26 that his country’s
energy purchases were driven by commercial MEOG: Oil deals abound
interests and not bilateral relations. Last week was one of deals in the Middle East
as political, field development and maintenance
DMEA: Money matters in Saudi Arabia agreements were reached, with producers look-
Two significant Saudi Arabian financial deals ing to sustain and grow production. Iraq signed
concerning petrochemicals and pipelines came deals with Total and Schlumberger and also
to the fore this week. Saudi Aramco and Dow declared its intention of increasing production
Chemical reached a debt restructuring agree- capacity to 8mn barrels per day (bpd) by 2029.
ment for the Sadara Chemical Co. JV, while also
allocating more gas to the plant. Aramco is also NorthAmOil: Chevron reportedly eyeing
said to have asked banks for proposals to provide Shell’s Pacific Northwest refinery
funding that will be offered to firms considering Super-major Chevron has reportedly emerged
leasing a stake in its oil pipelines division. as the leading contender to buy a refinery in the
US Pacific Northwest that is owned by Royal
EurOil: North Sea M&A heats up Dutch Shell. This was reported by Reuters, which
Polish gas company PGNiG has continued its quoted three sources familiar with the matter as
acquisition spree off Norway with its biggest pur- saying on March 27 that Chevron was first in line
chase to date, worth $615mn. The state-owned to buy the Puget Sound refinery in Anacortes,
firm has struck a deal to acquire the Norwegian Washington State. ™

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P16 www. NEWSBASE .com Week 13 01•April•2021