Page 19 - FSUOGM Week 13 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

Welcome to NewsBase’s Roundup Global GLNG: Cheniere’s Corpus Christi Train 3 Ap-
NRG (NRG), in which the reader is invited to join proved To Enter Service
our team of international editors, who provide a The third train at Cheniere Energy’s Corpus
snapshot of some of the key issues affecting their Christi LNG export terminal on the Texas Gulf
regional beats. We hope you will like NRG's new Coast has been approved by the US Federal
concise format, but by clicking on the headline Energy Regulatory Commission (FERC) to enter
link for each section the full text will be available commercial service. This comes after the train has
as before. already been operating in test mode for months.
AfrOil: Mozambique’s Security Setback LatAmOil: AMLO’s Latest Salvo
The Mozambique LNG consortium has suffered Mexican President Andres Manuel Lopez
another serious setback within the last week. Obrador has reportedly stepped up his cam-
Total, the operator of the group, has suspended paign to secure state control over the energy
operations and evacuated nearly all workers industry. According to Reuters, the president
from the site on the Afungi Peninsula where it has sent a bill to Congress that gives the gov-
has been building a gas liquefaction plant since ernment the right to suspend permits granted
March 24, when the nearby town of Palma to the developers of oil and gas fields under
was besieged by fighters loyal to Ahlu Sunnah certain conditions. A section of the draft leg-
Wa-Jamo (ASWJ). Mozambique’s armed forces islation cited by the news agency states that the
have been trying to regain control of Palma, but Secretariat of Energy (SENER) or the Energy
as of press time, security conditions in the area Regulatory Commission (CRE) may suspend
were still precarious. such permits temporarily “when an imminent
danger is foreseen for national security, energy
AsianOil: India Continues To Rail Against security or for the national economy.”
Oil Supply Cuts
The Indian government maintained its pressure MEOG: Oil Deals Abound
on OPEC+ and Saudi Arabia this past week, Last week was one of deals in the Middle East
pushing for an easing in production cuts in order as political, field development and maintenance
to lower international oil prices. agreements were reached as producers look to
Indian Minister of Petroleum and Natural sustain and grow production.
Gas Dharmendra Pradhan said on March 26 that Iraq signed deals with Total and Schlum-
his country’s energy purchases were driven by berger while noting its intention to increase pro-
commercial interests and not bilateral relations. duction capacity to 8mn barrels per day (bpd)
by 2029. While the Schlumberger deal focuses
DMEA: Money Matters In Saudi on drilling wells to expand output at the super-
Two significant Saudi Arabian financial deals giant West Qurna-1 asset, the Total accord had a
came to the fore this week centring on petro- much broader reach. Having come to terms on a
chemicals and pipelines. deal covering oil, gas, solar energy and seawater
Saudi Aramco and Dow Chemical reprocessing, Oil Minister Ihsan Abdul Jabbar
reached a debt restructuring agreement for said that Total would present it to the Iraqi Cab-
their Sadara Chemical Co. joint venture (JV) inet for approval. While the capture and utilisa-
while allocating more gas to the plant. The tion of gas was the part of the deal that grabbed
deal will see the partners guarantee up to an the headlines, the news that Total would take
aggregate of $3.7bn of senior debt propor- over the development of the Common Seawater
tionate to their shareholding while benefit- Supply Project (CSSP) will likely have an even
ing from a repayment grace period that runs more significant impact, having the potential to
until June 2026. allow oil output to increase rapidly.

Euroil: North Sea M&A Heats Up NorthAmOil: Chevron Reportedly Eyeing
Polish gas company PGNiG has continued Shell’s Pacific Northwest Refinery
its acquisition spree off Norway with its Super-major Chevron has reportedly emerged as
biggest purchase to date worth $615mn. the leading contender to buy a refinery in the US
The state-owned firm has struck a deal Pacific Northwest that is owned by Royal Dutch
to acquire the Norwegian business of UK Shell. This was reported by Reuters, which cited See the archive and
group Ineos, which produces around 33,000 three sources familiar with the matter on March sign up to receive
barrels of oil equivalent per day (boepd), 27 as saying that Chevron was first in line to buy *NRG Editor’s Picks*
including 1.5bn cubic metres per year of the Puget Sound refinery in Anacortes, Wash- for free by email each
gas. ington State.™ week here

Week 13 31•March•2021 www. NEWSBASE .com P19