Page 6 - LatAmOil Week 34

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Looking to the future

Although rattled by the international oil and gas price collapse, governments and

investors continue to press forward – either through new legislation or projects

COMMENTARY WELCOME to the latest edition of NewsBase’s number of new deals covering oil production, gas
Roundup Global (NRG), in which our team of capture and power generation with US investors.
international editors provide you with a snap- Alongside more the encouraging news come
shot of some of the key issues affecting their reports that highlight the ongoing battle to manage
regional beats. Get the NRG Oil & Gas Editor’s stressed balance sheets. India’s ONGC is consider-
Picks to your inbox every week for free. Just sign ing raising billions of dollars’ worth of new debt,
up here. while Saudi Aramco has reportedly cancelled its
With the wave of painful second-quarter results maintenance tender for the Marjan oilfield.
largely out of the way, governments and investors
are looking to the future. However, upbeat develop- High hopes in Africa
ment news is still being counterbalanced by fund- This week’s AfrOil takes a closer look at Nige-
ing concerns. ria’s Petroleum Industry Bill (PIB). The govern-
There was good news out of Nigeria, not only ment has finally brought the proposed law to the
in the form of long-delayed legislation but also the National Assembly for consideration, after more
imminent commissioning of a major new down- than 10 years of delay, and officials in Abuja hope
stream facility. Similar positive news has come from to secure its passage before the end of the year.
Russia, where Rosneft has returned to offshore In another positive turn, the Nigerian-Chi-
development in the Arctic and Gazprom Neft has nese joint venture AIPCC Energy is set to com-
launched of the next phase of its own Arctic project. mission its 6,000 barrel per day (bpd) modular
The Iraqi government, meanwhile, has signed a refinery in Edo State next month.

P6 www. NEWSBASE .com Week 34 27•August•2020