Page 16 - DMEA Week 16 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global units, the commissioning of which will lead to a
(NRG), in which the reader is invited to join growth in Russian Euro-5 standard gasoline sup-
our team of international editors, who provide a ply by over 3.6mn tonnes per year, and Euro-5
snapshot of some of the key issues affecting their standard diesel by 25mn tpy.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: NextDecade advances clean plans
link for each section the full text will be available It has been another busy week for US-based
as before. LNG developer NextDecade, which is trying to
position its proposed Rio Grande liquefaction
AfrOil: Nigeria adds tax, royalty cuts to PIB project at Texas’ Port of Brownsville as one of
Nigeria’s government has reportedly agreed to the most environmentally friendly facilities of
revise provisions of the Petroleum Industry Bill its kind.
(PIB), the oil and gas law now under discussion The company has announced two sepa-
in the National Assembly. rate partnerships in recent days that are geared
Sources closely involved with the legislation towards bolstering Rio Grande LNG’s green
told Reuters last week that Abuja had acceded credentials.
to requests from international oil and gas com-
panies (IOCs) for reductions in royalty and tax LatAmOil: Natixis to end Ecuador funding
rates. France’s Natixis is set to join the ranks of finan-
cial institutions that have stopped supporting
AsianOil: Exxon starts up GBJV trade deals involving Ecuadorean crude oil.
US super-major ExxonMobil has started pro- The French bank informed Reuters last week
ducing natural gas from a new project offshore that it intended to stop financing trade in Ecua-
eastern Australia. dorean oil by April 2022.
ExxonMobil’s local unit, Esso Australia, said
on April 20 the Gippsland Basin Joint Venture MEOG: Iran’s quake and Iraq’s Qurna-1
(GBJV) – a 50:50 venture including BHP Billiton A major earthquake disrupted oil operations in
– had commissioned the West Barracouta pro- southern Iran this week, while across the border,
ject off the coast of Victoria. Iraq is seeking a new lead developer for West
Qurna-1 as it shops ExxonMobil’s stake.
EurOil: UK CCS plans take shape An earthquake in southern Iran caused dam-
Clean energy developer Storegga has brought on age to an important oil facility over the weekend,
board Royal Dutch Shell and Harbour Energy as with state TV saying that production had been
equal-equity partners at its Acorn carbon, cap- disrupted. Iraq’s Ministry of Oil (MoO) said over
ture and storage (CCS) project in Aberdeenshire. the weekend that it is holding discussions with
The group expect to launch the project in the US companies over the acquisition of a 32.7%
mid-2020s, with its annual CO2 storage capabil- stake in the West Qurna-1 (WQ-1) oilfield cur-
ity reaching 5mn tonnes per year (tpy) by the end rently held by super-major ExxonMobil.
of the decade.
NorthAmOil: Permian makes headlines
FSUOGM: Russia overhauls refineries Various developments have emerged from the
Russia’s energy ministry has entered into invest- prolific Permian Basin in recent days, illustrating
ment deals with 14 refineries worth RUB800bn the region’s ongoing dominance of the US oil and
($10.5bn) for the construction of new processing gas industry. Most notably, BP was reported to be
units. planning to phase out routine flaring of associ-
The investments will be spent building 30 ated natural gas in the basin by 2025.™

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P16 www. NEWSBASE .com Week 16 22•April•2021