Page 17 - MEOG Week 22 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global pointing to unfavourable market and political
(NRG), in which the reader is invited to join conditions.
our team of international editors, who provide a Shah Deniz’s first phase has supplied 6.6bn
snapshot of some of the key issues affecting their cubic metres per year of gas to Turkey for many
regional beats. years, but the contract with Turkish firm Botas
We hope you will like NRG’s new concise for- expired on April 17, bringing supplies to a stand-
mat, but by clicking on the headline link for each still. Botas instead wants to import more spot-
section the full text will be available as before. priced LNG to save on cost.
Afroil: Tlou to develop H2 strategy for GTP FSUOGM: Lukoil beats expectations in Q1
Australia’s Tlou Energy hopes that its Lesedi gas- Russia’s Lukoil swung to a net profit of
to-power (GTP) project in Botswana will serve RUB157bn ($2.14bn) in the first quarter, ver-
as a springboard for blue and green hydrogen sus a RUB46bn loss a year earlier, on the back
production. The company intends to develop of higher oil prices, increased gas supply and a
a “hydrogen strategy” to complement the GTP recovery in fuel demand. Significant devalu-
scheme and has already secured some of the ation of the Russian ruble since the pandemic
assets and administrative permits it will need to began was also a major factor.
begin turning out hydrogen.
GLNG: Venture Global unveils CCS plan
AsianOil: ConocoPhillips to exit Corridor US-based Venture Global LNG announced last
US super-major ConocoPhillips is reportedly week that it would develop carbon capture and
gearing up to walk away from the Corridor nat- storage (CCS) capacity to serve two of its LNG
ural gas block onshore Indonesia. The deputy export projects on Louisiana’s Gulf Coast.
head of upstream regulator SKK Migas, Fatar Venture Global said that the CCS pro-
Yani Abdurrahman, revealed last week that the ject still needed regulatory approvals but was
company had told the agency that it wanted to shovel-ready.
relinquish its stake in the licence.
LatAmOil: Yellowtail optimism
DMEA: Dangote interest and CFP complete ExxonMobil and Hess both expect to move
In this week’s DMEA, we take a look at the grow- forward quickly with preparations for oil pro-
ing interest among oil companies to acquire a duction at Yellowtail, the fourth section of the
minority stake in Nigeria’s Dangote Refinery, Stabroek block offshore Guyana slated for
while Kuwait has completed construction of its development.
Clean Fuels Project (CFP). John Hess, the CEO of the US-based inde-
Speaking to Reuters, Devakumar Edwin, pendent Hess, noted last week that Guyana’s
group executive director at Dangote Industries, government was on track to finish evaluating
said that his company has been approached by ExxonMobil’s request for permission to develop
NNPC and Western and Middle Eastern oil Yellowtail before the end of the year.
and trading companies to secure crude supply
agreements. NorthAmOil: Super-majors under pressure
Meanwhile, Kuwait’s downstream-focused US super-majors Chevron and ExxonMo-
KNPC this week announced that it had com- bil both suffered defeats at the hands of their
pleted a new hydrocracking unit at the Mina shareholders last week. In ExxonMobil’s case,
Abdullah refinery, signalling the completion of a relatively small activist investor hedge fund
work on the $15.7bn CFP. succeeded in having at least two of its nominees
elected to the company’s board.
EurOil: OIES casts doubt on SGC expansion Meanwhile, Chevron shareholders voted
A report published by the Oxford Institute nearly 61% in favour of a proposal to force the
for Energy Studies (OIES) has cast doubt on super-major to cut its Scope 3 greenhouse gas
whether an expansion at the Southern Gas Cor- (GHG) emissions – or those generated by cus-
ridor (SGC) gas pipeline network will go ahead, tomers using its products.™

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