Page 13 - AfrOil Week 01 2021

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These included a significant LNG asset sale had reduced the size of its workforce in the South
announced in Australia in late December, as American country. The Houston-based firm has
well as the start-up of a new import terminal in been ramping down its Venezuelan operations
Croatia. Meanwhile in the US, the third of three for some time, in line with US sanctions policy,
companies proposing to build a new LNG export but it is now trimming staff levels even further.
terminal at the Port of Brownsville in Texas As of press time Halliburton had not revealed
signed a long-term lease with the port. the extent of the staff cuts. However, a spokes-
The Australian asset sale involves Royal woman told Reuters that the company was not
Dutch Shell, which said on December 21 that closing up shop completely.
it had agreed to divest a 26.25% stake in the “Halliburton halted its primary operations in
Queensland Curtis LNG (QCLNG) common Venezuela as a result of US sanctions imposed
facilities to Global Infrastructure Partners Aus- on the country. Because of this, Halliburton
tralia. The stake will be sold for $2.5bn, in a deal is reducing its Venezuelan workforce,” she
anticipated to close in the first half of 2021. explained. “Halliburton remains committed to
Shell currently owns 100% of the QCLNG maintaining a presence in Venezuela.”
common facilities, as well as a 73.75% interest She was speaking after Reuters reported that
in the overall QCLNG project. The super-major three little-known companies based in the UAE
said the sale would bring its interest in the com- – Asia Charm, Issa Shipping and Muhit Mari- The prospects
mon facilities into alignment with its stake in the time – had begun handling Venezuelan crude in for US exporters
overall project as it works to sell non-core assets the second half of 2020. The news agency noted
and high-grade and simplify its portfolio. in late December that the firms in question had of LNG improved,
In Croatia, meanwhile, the Krk floating LNG taken control of about half a dozen tankers pre-
(FLNG) terminal entered service on January 1. viously used to ship Venezuelan oil and fuels and thanks to higher
On that date, the Tristar Ruby tanker arrived to then renamed them before resuming shipments
offload the first commercial cargo, consisting of from the South American state. prices
LNG from the US, at the facility. A spokesman for the US State Department
These developments occurred as the pros- responded to questions from Reuters by saying
pects for US exporters of the super-chilled fuel that Washington was “closely tracking these
improved, thanks to higher LNG prices. There kinds of creative efforts by companies to avoid
are even signs of greater long-term confidence, sanctions.”
as illustrated by Texas LNG signing a 50-year Meanwhile, authorities in the UAE say they
lease agreement with the Port of Brownsville have already launched “a thorough and compre-
to support its proposed export terminal. Texas hensive investigation” into the matter.
LNG joins Annova LNG and Rio Grande LNG
in making the commitment. If you’d like to read more about the key events shaping
the Latin American oil and gas sector then please click
If you’d like to read more about the key events shaping here for NewsBase’s LatAmOil Monitor.
the global LNG sector then please click here for
NewsBase’s GLNG Monitor. MEOG: Iraqi budget, Iranian exploration
The holiday period was dominated by the news
LatAmOil: Venezuelan sanctions that Iraq’s government has passed a budget
US sanctions continue to dog Venezuela’s oil for 2021, despite issues relating to Kurdish oil
industry, which has seen output plummet over exports remaining unresolved. Meanwhile, Iran
the last few years. has once again tasked domestic oil firms with
Halliburton, one of the world’s largest oilfield ramping up production, with a new raft of deals
service providers, said in late December that it handed out to local companies.

Week 01 06•January•2021 www. NEWSBASE .com P13