Page 6 - FSUOGM Week 33

FSUOGM NEWSBASE’S ROUNDUP GLOBAL (NRG) FSUOGM

Time for some positivity

Nigeria, South Sudan and Morocco feature in our report this week as do Azerbaijan,
Venezuela, Iraq and Iran. Amid positive news in the LNG market and of diversification efforts

in North America and elsewhere, stresses continue to be seen in the East Mediterranean.

NRG WELCOME to the latest edition of NewsBase’s brought production down to 1.37mn barrels per
Roundup Global (NRG), in which our team of day (bpd) in July. Other sources put yields at 1.49
international editors provide you with a snap- bpd in July, though.
shot of some of the key issues affecting their In other news, Nigerian National Petroleum
regional beats. Get the NRG Oil & Gas Editors’ Corp. (NNPC) is pushing ahead with efforts to
Picks to your inbox every week for free. Just sign build the Ajaokuta-Kaduna-Kano (AKK) pipe-
up here. line, which will increase natural gas deliveries to
This week’s topics covered in NRG include the domestic market. Seyi Omotowa, the head
challenges, progress and failures in Africa, of NNPC’s Nigerian Gas Co. (NGC) subsidiary,
natural gas policy announcements in Western said that the state-owned firm was determined
Australia, a contract award at the Shuiaba refin- to ensure that work on the $2.8bn project did not
ery, Iraq, an assessment of Azerbaijan’s energy fall behind schedule. When finished, the 614-km
exports and output, and continued stresses pipeline will have a throughput capacity of more
between Greece and Turkey on drilling in the than 36bn cubic metres (bcm) per year.
Eastern Mediterranean. Add in Chevron’s moves Meanwhile, Nigeria’s government is also
in at renewables and nuclear fusion and a look at trying to move forward with the passage of the
the rise in LNG exports and our monitors pro- Petroleum Industry Bill (PIB), which will replace
vide a very worthwhile insight of the worldwide the 2004 Petroleum Law. But the latest version of
energy industry. the draft law has drawn criticism from the head
of Dupri Oil, an independent Nigerian operator.
Nigeria tries to stay on task Imo Itsueli, the head of the company, says Abuja
Nigeria may be Africa’s largest crude oil pro- drew up the bill without seeking sufficient input
ducer, but it has been working to reduce output from oil and gas companies. These firms may
levels in line with the OPEC+ agreement signed raise objections when the PIB comes up for pub-
earlier this year. According to the latest version of lic discussion, he said at a webinar last week.
OPEC’s monthly report, the West African state Elsewhere in Africa, Algeria has revised its

P6 www. NEWSBASE .com Week 33 19•August•2020