Page 14 - AsianOil Week 22 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global RUB157bn ($2.14bn) in the first quarter, ver-
(NRG), in which the reader is invited to join sus a RUB46bn loss a year earlier, on the back
our team of international editors, who provide a of higher oil prices, increased gas supply and a
snapshot of some of the key issues affecting their recovery in fuel demand. Significant devaluation
regional beats. We hope you will like NRG's new of the Russian ruble since the pandemic began
concise format, but by clicking on the headline was also a major factor.
link for each section the full text will be available
as before. GLNG: Venture Global unveils CCS plan
US-BASED Venture Global LNG announced
AfrOil: Tlou develops “hydrogen strategy” last week that it would develop carbon cap-
AUSTRALIA’S Tlou Energy hopes that its ture and storage (CCS) capacity to serve two
Lesedi gas-to-power (GTP) project in Botswana of its LNG export projects on Louisiana’s Gulf
will serve as a springboard for blue and green Coast. Venture Global said that the CCS pro-
hydrogen production. The company intends to ject still needed regulatory approvals but was
develop a “hydrogen strategy” to complement shovel-ready.
the GTP scheme and has already secured some
of the assets and administrative permits it will LatAmOil: Hess, Exxon upbeat over Yellowtail
need to begin turning out hydrogen. EXXONMOBIL and Hess both expect to move
forward quickly with preparations for oil pro-
DMEA: Dangote admirers, Kuwait finishes CFP duction at Yellowtail, the fourth section of the
IN this week’s DMEA, we take a look at the grow- Stabroek block offshore Guyana slated for devel-
ing interest among oil companies to acquire a opment. John Hess, the CEO of the US-based
minority stake in Nigeria’s Dangote Refinery, independent Hess, noted last week that Guyana’s
while Kuwait has completed construction of its government was on track to finish evaluating
Clean Fuels Project (CFP). Speaking to Reuters, ExxonMobil’s request for permission to develop
Devakumar Edwin, group executive director at Yellowtail before the end of the year.
Dangote Industries, said that his company has
been approached by NNPC and Western and MEOG: Azadegan, Qurna-2 in focus
Middle Eastern oil and trading companies to THIS week’s MEOG considers projects to
secure crude supply agreements. Meanwhile, increase production from two of the world’s larg-
Kuwait’s downstream-focused KNPC this week est oilfields: Azadegan and West Qurna-2. Iran’s
announced that it had completed a new hydroc- NIOC signed memoranda of understanding
racking unit at the Mina Abdullah refinery, sig- (MoUs) with Persia Oil & Gas Industry Devel-
nalling the completion of work on the $15.7bn opment Co. (POGIDC) for the northern sector
CFP. of the 32bn barrel Azadegan, with Petropars and
PetroIran Development Co. (PEDCO) for the
Euroil: OIES casts doubt on SGC expansion central sector, and with independents Pasargad
A report published by the Oxford Institute Energy Development Co. (PEDC) and Dana
for Energy Studies (OIES) has cast doubt on Energy for the southern sector.
whether an expansion at the Southern Gas Cor-
ridor (SGC) gas pipeline network will go ahead, NorthAmOil: Super-major shareholder pressure
pointing to unfavourable market and political US super-majors Chevron and ExxonMobil both
conditions. Shah Deniz’s first phase has supplied suffered defeats at the hands of their sharehold-
6.6bn cubic metres per year of gas to Turkey for ers last week. In ExxonMobil’s case, a relatively
many years, but the contract with Turkish firm small activist investor hedge fund succeeded in
Botas expired on April 17, bringing supplies to having at least two of its nominees elected to the
a standstill. Botas instead wants to import more company’s board. Meanwhile, Chevron share-
spot-priced LNG to save on cost. holders voted nearly 61% in favour of a proposal
to force the super-major to cut its Scope 3 green-
FSU OGM: Lukoil beats Q1 expectations house gas (GHG) emissions – or those generated
RUSSIA’S Lukoil swung to a net profit of by customers using its products.™

P14 www. NEWSBASE .com Week 22 03•June•2021