Page 19 - FSUOGM Week 08 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global operations from its services and technology
(NRG), in which the reader is invited to join activities.
our team of international editors, who provide a TechnipFMC announced the split in mid-
snapshot of some of the key issues affecting their 2019, two years after the company’s creation
regional beats. We hope you will like NRG's new through the merger between France-based
concise format, but by clicking on the headline Technip and US-based FMC Technologies.
link for each section the full text will be available But it put the process on hold after the coro-
as before. navirus (COVID-19) pandemic struck.

AfrOil: Angolan MPs vote on downstream, GLNG: Pair of Qatari deals
exploration projects Two separate LNG-related deals have been
The government of Angola has announced plans announced this week, involving Qatargas and
to reduce the country’s dependence on imported its parent company, Qatar Petroleum (QP).
petroleum products. To this end, legislators have Italy’s Saipem said it had received a contract
authorised President João Lourenço to offer worth around $1.7bn from Qatargas for engi-
special incentives for the construction of the neering, procurement, construction and instal-
Cabinda refinery. lation (EPCI) of various offshore facilities at
Qatar’s North Field.
AsianOil: CNOOC Ltd makes Bohai Bay
discovery
State-run Chinese offshore developer CNOOC LatAmOil: Mexican government offers sup-
Ltd announced on February 22 that it had made port to Pemex
a significant shallow-water oil and gas discovery Mexico’s government is offering additional fis-
in the Bohai Bay. cal support to Pemex, the national oil company
The discovery in the Bozhong 13-2 structure, (NOC), in the form of a stimulus package that
which CNOOC Ltd described as “large-sized” includes around $3.5bn in tax breaks and a cap-
without providing a resource estimate, is located ital boost of $1.3-1.6bn. Its plan complements
in the bay’s south-western Ring of Bozhong Sag, a set of earlier concessions designed to reduce
in around 23 metres of water. Pemex’s profit-sharing duties in 2020 and 2021.
The major said on February 15 that PFLNG
DUA had produced and liquefied its first gas MEOG: Price rally sees improved sentiment
from the deepwater Rotan field, which lies 140 The ongoing oil price rebound has seen sen-
km off Kota Kinabalu, on February 6. timent throughout the Middle East improve
ahead of the upcoming OPEC+ meeting, which
DMEA: Downstream dealing picks up is rumoured to see a change of tack from Saudi
Having spent years talking about its plans to Arabia as the Kingdom considers reversing its
overhaul the country’s four state-owned refin- decision to cut output.
eries, Nigeria’s NNPC last week finally secured
funding for a major rehabilitation project focus- NorthAmOil: Profits, growth opportunities
ing on the largest unit. for TC Energy
The Port Harcourt maintenance project is Canada’s TC Energy has reported a net profit
now expected to kick off during Q1 and will look attributable to common shares of CAD1.124bn
to return the 210,000 barrel per day (bpd) refin- ($890mn) for the fourth quarter of 2020, up
ery to 90% capacity. from CAD1.108bn ($878mn) year on year.
While the company expressed its disappoint-
ment with US President Joe Biden’s cancellation
Euroil: TechnipFMC does the splits of the permit of the Keystone XL pipeline pro-
France’s TechnipFMC has wrapped up the ject, TC Energy’s CEO, François Poirier, noted
separation of its engineering and construction that it had a “large and diversified” asset base.™

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