Page 24 - MEOG Week 13 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global acquisition spree off Norway with its biggest
(NRG), in which the reader is invited to join purchase to date worth $615mn.
our team of international editors, who provide a The state-owned firm has struck a deal to
snapshot of some of the key issues affecting their acquire the Norwegian business of UK group
regional beats. We hope you will like NRG’s new Ineos, which produces around 33,000 barrels of
concise format, but by clicking on the headline oil equivalent per day (boepd), including 1.5bn
link for each section the full text will be available cubic metres per year of gas.
as before.
FSU OGM: Fresh gas find in Caspian
AfrOil: Mozambique’s security setback BP and Azerbaijan’s state-owned SOCAR have
The Mozambique LNG consortium has suffered made an ultra-deep gas and condensate discov-
another serious setback within the last week. ery in the Caspian Sea after 14 months of drilling.
Total, the operator of the group, has suspended The well at the Shafag-Asiman block was sunk
operations and evacuated nearly all workers to a depth of almost 7,200 metres. It is the first
from the site on the Afungi Peninsula where it borehole to be completed in years in the Azeri
has been building a gas liquefaction plant since Caspian Sea, where exploration activity has been
March 24, when the nearby town of Palma muted because of low oil prices and rig scarcity.
was besieged by fighters loyal to Ahlu Sunnah
Wa-Jamo (ASWJ). GLNG: Corpus Christi 3 approved
The third train at Cheniere Energy’s Corpus
AsianOil: India continues push to end cuts Christi LNG export terminal on the Texas Gulf
The Indian government maintained its pressure Coast has been approved by the US Federal
on OPEC+ and Saudi Arabia this past week, Energy Regulatory Commission (FERC) to
pushing for an easing in production cuts in order enter commercial service. This comes after the
to lower international oil prices. train has already been operating in test mode for
Indian Minister of Petroleum and Natural months.
Gas Dharmendra Pradhan said on March 26 that
his country’s energy purchases were driven by LatAmOil: AMLO’s latest salvo
commercial interests and not bilateral relations. Mexican President Andres Manuel Lopez Obra-
dor has reportedly stepped up his campaign to
DMEA: Money matters in Saudi secure state control over the energy industry.
Two significant Saudi Arabian financial deals According to Reuters, the president has sent a
came to the fore this week centring on petro- bill to Congress that gives the government the
chemicals and pipelines. Saudi Aramco and right to suspend permits granted to the develop-
Dow Chemical reached a debt restructuring ers of oil and gas fields under certain conditions.
agreement for their Sadara Chemical Co. joint
venture (JV) while allocating more gas to the NorthAmOil: Chevron eyeing Shell refinery
plant. Super-major Chevron has reportedly emerged as
Aramco is also reported to have asked banks the leading contender to buy a refinery in the US
for proposals to provide funding that it intends Pacific Northwest that is owned by Royal Dutch
to offer companies considering leasing a stake in Shell. This was reported by Reuters, which cited
its oil pipelines division. three sources familiar with the matter on March
27 as saying that Chevron was first in line to buy
EurOil: North Sea M&A heats up the Puget Sound refinery in Anacortes, Wash-
Polish gas company PGNiG has continued its ington State.™

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P24 www. NEWSBASE .com Week 13 31•March•2021