Page 10 - LatAmOil Week 01 2021

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Energy markets edge

cautiously into a new year

Concerns about energy demand and OPEC+ production quotas continue

to exert pressure on oil prices, despite the debut of the COVID-19 vaccine

COMMENTARY WELCOME to the latest edition of NewsBase’s licensing rounds, while Iraq’s government has
Roundup Global (NRG), in which our team of passed a budget for 2021 and Europe has marked
international editors provide you with a snap- the launch of two new import routes for natural
shot of some of the key issues affecting their gas. But on a less optimistic note, unrest in Mozam-
regional beats. Get the NRG Oil & Gas Editor’s bique is posing risks for LNG projects, and Ethiopia
Picks to your inbox every week for free. Just sign is scrapping a controversial $3.6bn gas-to-liquids
up here. (GTL) deal with a US-based company. Meanwhile,
Global oil and gas markets entered 2021 on a BP and its partners have drilled a dry hole offshore
cautious note, driven by concern over the possibil- West Australia.
ity that new lockdowns to combat the coronavirus
(COVID-19) pandemic might dampen energy AfrOil: Bidding rounds move ahead
demand and by disputes between members of the The two largest oil-producing countries in Africa
OPEC+ group over the question of when to lift are focusing on licensing rounds.
crude production quotas. Nevertheless, bearish In Nigeria, the Department of Petroleum
sentiments have not been overly strong, as the roll- Resources (DPR) is preparing to move on to the
out of the COVID-19 vaccine has helped fuel opti- next stage of its Marginal Oilfield Bid Round.
mism about the prospects for economic recovery. Paul Osu, the DPR’s head of public affairs, said
Industry developments have also been a mixed at the end of December that 161 of the 600-plus
bag. On the positive side, Africa’s two largest companies that had applied for pre-qualification
oil-producing states are moving ahead with new to participate had been shortlisted.

P10 www. NEWSBASE .com Week 01 07•January•2021