Page 15 - MEOG Week 27

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produce more high-value light fuels. construction of the Atlantic Coast natural gas
in Mexico, independent fuel importers have pipeline. Even though the partners scored an
complained that bureaucratic procedures are important victory in the US Supreme Court last
becoming more of a burden. month, they have concluded that the risk of fur-
Firms not affiliated with Pemex, the national ther litigation is too high to ensure the project’s
oil company (NOC), say that customs inspectors viability.
are throwing up unnecessary roadblocks to ship- Also on the legal front, a US district court
ments of refined fuels, especially diesel. has ordered Energy Transfer to shut down and
empty its 570,000 bpd Dakota Access oil pipeline
If you’d like to read more about the key events shaping (DAPL) within 30 days.
the Latin American oil and gas sector then please click Under this ruling, the company must sus-
here for Newsbase’s LatAmOil Monitor. pend operations pending the completion of
a new environmental impact report, which is
Facing obstacles in north america likely to take more than a year to complete.
Several North American entities have reported Meanwhile in Canada, the Newfoundland
setbacks and disappointments over the last & Labrador Oil & Gas industries Association
week. (NOiA) has urged Seamus O’regan, the coun-
ExxonMobil is set to post two consecutive try’s natural resources minister, to uphold his
quarterly losses for the first time in its history, recent pledges to assist offshore oil and gas oper-
thanks to the coronavirus pandemic and the ators. “We need immediate action to get people
russian-Saudi oil price war. back to work, to remain globally competitive
According to a regulatory filing submitted and to retain the investment we have previously
last week, the US super-major’s upstream oil and attracted to our industry,” said Karen Winsor, the
gas unit sustained a loss of $3.1bn in the second chairperson of NOiA’s board.
quarter of 2020, while its downstream refining “We need a show of faith in our future and we
unit lost nearly $1bn. The company is due to need it immediately.”
release a full report on its quarterly results at the
end of this month. If you’d like to read more about the key events shaping
Dominion Energy and Duke Energy the North American oil and gas sector then please click
have decided against going forward with the here for Newsbase’s NorthAmOil Monitor.™

Week 27 08•July•2020 www. NEWSBASE .com P15