Page 14 - NorthAmOil Week 22 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global spot-priced LNG to save on cost.
(NRG), in which the reader is invited to join
our team of international editors, who provide a FSUOGM: Lukoil beats expectations in Q1
snapshot of some of the key issues affecting their Russia’s Lukoil swung to a net profit of
regional beats. We hope you will like NRG’s new RUB157bn ($2.14bn) in the first quarter, ver-
concise format, but by clicking on the headline link sus a RUB46bn loss a year earlier, on the back
for each section the full text will be available as of higher oil prices, increased gas supply and a
before. recovery in fuel demand. Significant devaluation
of the Russian ruble since the pandemic began
Afroil: Tlou Energy to develop “hydrogen was also a major factor.
strategy” for GTP project
Australia’s Tlou Energy hopes that its Lesedi gas- GLNG: Venture Global unveils CCS plan for
to-power (GTP) project in Botswana will serve Louisiana LNG projects
as a springboard for blue and green hydrogen US-based Venture Global LNG announced last
production. The company intends to develop week that it would develop carbon capture and
a “hydrogen strategy” to complement the GTP storage (CCS) capacity to serve two of its LNG
scheme and has already secured some of the export projects on Louisiana’s Gulf Coast. Venture
assets and administrative permits it will need to Global said that the CCS project still needed regu-
begin turning out hydrogen. latory approvals but was shovel-ready.

AsianOil: ConocoPhillips to exit Indonesia’s LatAmOil: Hess, ExxonMobil optimistic
Corridor block about Yellowtail project
US-based ConocoPhillips is reportedly gear- ExxonMobil and Hess both expect to move
ing up to walk away from the Corridor natural forward quickly with preparations for oil pro-
gas block onshore Indonesia. The deputy head duction at Yellowtail, the fourth section of the
of upstream regulator SKK Migas, Fatar Yani Stabroek block offshore Guyana slated for devel-
Abdurrahman, revealed last week that the com- opment. John Hess, the CEO of the US-based
pany had told the agency that it wanted to relin- independent Hess, noted last week that Guyana’s
quish its stake in the licence. government was on track to finish evaluating
ExxonMobil’s request for permission to develop
DMEA: Dangote admirers and Kuwait fin- Yellowtail before the end of the year.
ishes CFP
In this week’s DMEA, we take a look at the grow- MEOG: Azadegan and Qurna-2 in focus
ing interest among oil companies to acquire a This week’s MEOG considers projects to increase
minority stake in Nigeria’s Dangote Refinery, production from two of the world’s largest oil-
while Kuwait has completed construction of its fields: Azadegan and West Qurna-2. Iran’s NIOC
Clean Fuels Project (CFP). Speaking to Reuters, signed memoranda of understanding (MoUs)
Devakumar Edwin, group executive director at with Persia Oil & Gas Industry Development Co.
Dangote Industries, said that his company has (POGIDC) for the northern sector of the 32bn
been approached by NNPC and Western and barrel Azadegan, with Petropars and PetroIran
Middle Eastern oil and trading companies to Development Co. (PEDCO) for the central sec-
secure crude supply agreements. Meanwhile, tor, and with independents Pasargad Energy
Kuwait’s downstream-focused KNPC this week Development Co. (PEDC) and Dana Energy for
announced that it had completed a new hydroc- the southern sector.
racking unit at the Mina Abdullah refinery, sig-
nalling the completion of work on the $15.7bn NorthAmOil: Shareholders put pressure on
CFP. super-majors
US super-majors Chevron and ExxonMobil both
EurOil: OIES casts doubt on SGC expan- suffered defeats at the hands of their sharehold-
sion ers last week. In ExxonMobil’s case, a relatively
A report published by the Oxford Institute small activist investor hedge fund succeeded
for Energy Studies (OIES) has cast doubt on in having at three of its nominees elected to the
whether an expansion at the Southern Gas Cor- company’s board. Meanwhile, Chevron share-
ridor (SGC) gas pipeline network will go ahead, holders voted nearly 61% in favour of a proposal
pointing to unfavourable market and political to force the super-major to cut its Scope 3 green-
conditions. Shah Deniz’s first phase has supplied house gas (GHG) emissions – or those generated
6.6bn cubic metres per year of gas to Turkey for by customers using its products.
many years, but the contract with Turkish firm
Botas expired on April 17, bringing supplies to See the archive and sign up to receive NRG Editor’s
a standstill. Botas instead wants to import more Picks for free by email each week here.™

P14 www. NEWSBASE .com Week 22 03•June•2021