Page 18 - EurOil Week 07 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global cut by 11.1% to 4.11mn barrels per day (bpd),
(NRG), in which the reader is invited to join owing to Russia’s OPEC+ commitments. Ros-
our team of international editors, who provide a neft’s 2020 revenues sank 33.6% to RUB5.76
snapshot of some of the key issues affecting their trillion, while EBITDA was down 42.6% at
regional beats. We hope you will like NRG's new RUB1.2 trillion.
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: Corpus Christi Train 3 ready to enter
as before. service
Cheniere Energy has asked the US Federal
AfrOil: Forward movement in Uganda Energy Regulatory Commission (FERC) for
In East Africa, Uganda’s government is turning permission to put the third train at the Cor-
its attention to plans for extracting and exporting pus Christi LNG export terminal in Texas into
crude oil from fields near Lake Albert. Robert service.
Kasande, the permanent secretary of the Min- The train has already been operating in test
istry of Energy and Mineral Development, says mode for several months, and the commission-
he expects France’s Total and China National ing cargo was loaded in December. In its filing
Offshore Oil Corp. (CNOOC) to make a final last week, Cheniere asked the FERC to approve
investment decision (FID) on the project by the its request as soon as possible, and no later than
middle of March. March 12.

AsianOil: Petronas starts up second FLNG LatAmOil: Production and elections
facility Production levels are on the rise in Argentina’s
Malaysia’s state-owned Petronas has started pro- Vaca Muerta shale basin, largely because devel-
duction at its second floating liquefied natural opers are focusing more intently on unconven-
gas (FLNG) facility, which is moored offshore tional oil production. Emilio Apud, the country’s
Sabah State. former energy secretary, has told Reuters that
The major said on February 15 that PFLNG higher oil prices and a domestic gas price freeze
DUA had produced and liquefied its first gas led upstream operators to make the switch.
from the deepwater Rotan field, which lies 140
km off Kota Kinabalu, on February 6. MEOG: ADNOC block and Turkish pursuit
Activities in the Middle East oil and gas sector
DMEA: Qatar bucks trend with $29bn LNG over the last week were highlighted by another
expansion block award in Abu Dhabi and efforts by Turkish
LNG frontrunner Qatar has signed off on a Petroleum Corp. (TPAO) to secure a partner for
$29bn expansion of its liquefaction capacity, at a the development of its major Black Sea gas field.
time when most other suppliers are holding back As part of its second competitive bid round,
on new investments. Abu Dhabi National Oil Co. (ADNOC) awarded
State-owned Qatar Petroleum (QP) took a Offshore Block 4 to Cosmo Energy of Japan. The
final investment decision (FID) on February 8 company is already the majority owner of the
on North Field East (NFE), which will expand Abu Dhabi Oil Co. (ADOC) which holds the
Qatar’s LNG production capacity from 77mn to emirate’s sole upstream concession in Abu Dhabi
110mn tonnes per year (tpy). to be wholly owned by foreign shareholders.
FSU OGM: Rosneft endures tough 2020 NorthAmOil: Freezing US weather disrupts
Russia’s biggest oil producer Rosneft suffered a Texas production, refining
near 80% drop in net profit in 2020, it reported Below-freezing weather is disrupting both
on February 12, as the coronavirus (COVID-19) upstream and downstream operations in the
pandemic sapped fuel demand and caused prices US. The extreme cold is proving particularly
to collapse. troublesome in states such as Texas, which are
The state-owned firm reported a unaccustomed to such weather.
RUB147bn ($2bn) net income for the year, Oil production in the Permian Basin, which
versus RUB705mn in 2019. Beyond weaker straddles Texas and New Mexico, was reported
prices, its oil and condensate production was to have fallen by around 1mn barrels per day

P18 www. NEWSBASE .com Week 07 17•February•2021