Page 17 - LatAmOil Week 07 2021

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global 2050, from the current 33.3mn tpy.
(NRG), in which the reader is invited to join
our team of international editors, who provide a
snapshot of some of the key issues affecting their FSU OGM: Rosneft endures tough 2020
regional beats. We hope you will like NRG’s new Russia’s biggest oil producer Rosneft suffered a
concise format, but by clicking on the headline near 80% drop in net profit in 2020, it reported
link for each section the full text will be available on February 12, as the coronavirus (COVID-19)
as before. pandemic sapped fuel demand and caused prices
to collapse.
AfrOil: Forward movement in Uganda The state-owned firm reported a RUB147bn
Uganda’s government is turning its attention to ($2bn) net income for the year, versus
plans for extracting and exporting crude oil from RUB705mn in 2019. Beyond weaker prices,
fields near Lake Albert. Robert Kasande, the per- its oil and condensate production was cut by
manent secretary of the Ministry of Energy and 11.1% to 4.11mn barrels per day (bpd), owing
Mineral Development, says he expects a final to Russia’s OPEC+ commitments. Rosneft’s 2020
investment decision (FID) on the project by the revenues sank 33.6% to RUB5.76 trillion, while
middle of March. EBITDA was down 42.6% at RUB1.2 trillion.
Meanwhile, two Ugandan government agen-
cies have teamed up district-level administra-
tions to promote domestic firms’ involvement GLNG: Corpus Christi LNG’s Train 3 ready
in the East Africa Crude Oil Pipeline (EACOP). to enter service
Cheniere Energy has asked the US Federal
Energy Regulatory Commission (FERC) for
AsianOil: Petronas starts up second LNG permission to put the third train at the Cor-
facility pus Christi LNG export terminal in Texas into
Malaysia’s state-owned Petronas has started pro- service.
duction at its second floating liquefied natural The train has already been operating in test
gas (FLNG) facility, which is moored offshore mode for several months, and the commission-
Sabah State. ing cargo was loaded in December. In its filing
The major said on February 15 that PFLNG last week, Cheniere asked the FERC to approve
DUA had produced and liquefied its first gas its request as soon as possible, and no later than
from the deepwater Rotan field, which lies 140 March 12.
km off Kota Kinabalu, on February 6.

MEOG: ADNOC block and Turkish pursuit
DMEA: Qatar bucks trend with $29bn LNG Activities in the Middle East oil and gas sector
expansion over the last week were highlighted by another
LNG frontrunner Qatar has signed off on a block award in Abu Dhabi and efforts by Turkish
$29bn expansion of its liquefaction capacity, at a Petroleum Corp. (TPAO) to secure a partner for
time when most other suppliers are holding back the development of its major Black Sea gas field.
on new investments. As part of its second competitive bid round,
State-owned Qatar Petroleum (QP) took a Abu Dhabi National Oil Co. (ADNOC) awarded
final investment decision (FID) on February 8 Offshore Block 4 to Cosmo Energy of Japan. The
on North Field East (NFE), which will expand company is already the majority owner of the
Qatar’s LNG production capacity from 77mn to Abu Dhabi Oil Co. (ADOC) which holds the
110mn tonnes per year (tpy). emirate’s sole upstream concession in Abu Dhabi
to be wholly owned by foreign shareholders
EurOil: New Shell strategy doubles down
on zero-carbon drive NorthAmOil: Freezing US weather disrupts
Royal Dutch Shell has announced a new strategy T exas production, refining
that puts more emphasis on reaching its net-zero Below-freezing weather is disrupting both
2050 target. But while the major plans to wind upstream and downstream operations in the
down its oil business steadily over the coming US. The extreme cold is proving particularly
years and decades, it is targeting a 20% growth troublesome in states such as Texas, which are
in LNG production by 2025. unaccustomed to such weather.
Shell sees its oil output gradually diminish- Oil production in the Permian Basin, which
ing by 1-2% each year, as a result of divestments straddles Texas and New Mexico, was reported
and natural decline. It also intends to boost LNG to have fallen by around 1mn barrels per day
exports by a further 7mn tonnes per year by (bpd) on February 15 as a result of the freeze. ™

Week 07 18•February•2021 www. NEWSBASE .com P17