Page 18 - EurOil Week 11 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global the areas in May 2019, shortly before Royal
(NRG), in which the reader is invited to join Dutch Shell announced it would give up on
our team of international editors, who provide a plans to explore Kalamkas Sea and Khazar,
snapshot of some of the key issues affecting their the largest of several fields identified in the
regional beats. We hope you will like NRG's new vicinity of the giant Kashagan oil project.
concise format, but by clicking on the headline It took the decision after concluding they
link for each section the full text will be available were economically unfeasible.
as before.
GLNG: Albanian feasibility study, US exports
AfrOil: Objections to fuel price hikes and carbon-compensated LNG in Spain
Fuel price hikes have sparked anger in two Afri- Plenty of LNG-related developments continue
can countries over the last week. In Nigeria, the to emerge. Last week, Excelerate Energy and
Petroleum Products Pricing Regulatory Agency ExxonMobil LNG Market Development signed
(PPPRA) has come under fire for raising the a memorandum of understanding (MoU) with
pump price of gasoline to NGN209.61-212.61 the government of Albania to conduct a feasi-
($0.55-56) per litre just a few weeks after pledg- bility study for a potential LNG import terminal
ing publicly that it would not push costs above in the country
NGN200 per litre ($0.52) in the month of March.
The increase has met with a cold reception LatAmOil: Pemex’s big discovery
among Nigerian consumers, who are already Mexico’s national oil company (NOC) Pemex
fretting over supply shortages. has reported the discovery of a large new field
off the coast of Tabasco state in the southern
AsianOil: Indonesia sets upstream content Gulf. Octavio Romero, the CEO of Pemex, has
targets described the site as “gigantic” and says it may
Indonesia’s upstream watchdog SKK Migas has hold as much as 1bn barrels of crude in combi-
set a local content target for upstream invest- nation with other nearby deposits.
ment in 2021, after the COVID-19 pandemic
derailed last year’s target. MEOG: ADNOC deal and Iraqi impasse
The head of SKK Migas’ goods and services As oil exporters around the Middle East ride
procurement management division, Erwin high on bullish prices, attention has returned to
Suryadi, said on March 10 that upstream pro- deal-making.
curement spending had amounted to US$3bn Last week, Abu Dhabi National Oil Co.
in 2020, with local content providers winning (ADNOC) continued its recent spate of stra-
about 56% of that total. tegic tie-ups with Asian companies, agreeing a
broad agreement with Malaysian counterpart
DMEA: Tema time and tankers under fire Petronas. The Emirati firm said that they would
Last week, Ghana’s energy minister visited the explore opportunities throughout the oil and
country’s struggling Tema Oil Refinery, giving a gas value chain, focusing on conventional and
rallying cry to workers and pledging state sup- unconventional resources in the upstream as
port for the unit. Despite efforts to reinvigorate well as assessing potential fuel and petrochem-
the unit, Tema continues to operate at reduced icals projects in the downstream.
levels following an explosion at its distillation
unit four years ago. Given the lack of progress NorthAmOil: US rig counts down but pro-
to date, there is reason to doubt the MP’s claims duction bouncing back
that Tema would become one of West Africa’s The US’ active rig count edged down by one last
premium refineries, however, there is a distinct week, according to oilfield services firm Baker
lack of competition in the region. Hughes. This marked the first time the US rig See the archive and
count had fallen since November. sign up to receive
FSU OGM: BP Axes Kazakh Plans The small change does not necessarily indi- *NRG Editor’s Picks*
UK major BP has scrapped plans for three cate a reversal of the overall upward trend over for free by email each
oil projects in Kazakhstan after announcing recent months, but does show that US drillers week here
a shift in its global strategy last year towards continue to proceed with caution.
renewables. In the week up to March 12, the oil-focused
Kazakhstan’s national oil company rig count in the US dropped to 309 from 310 the
(NOC) KazMunayGas (KMG) published previous week, while the gas rig count stayed flat
a letter sent by BP last October on March at 92 for a total of 402 active rigs in the country.
10, stating that after 18 months of evalua- While rig counts have been recovering over the
tion work it had decided not to pursue the past four months, they are still at less than half
Bolshoy Zhambyl, Zhemchuzhnaya and the levels seen a year ago, when the total was
Kalamkas Sea blocks. BP agreed to assess reported at 792.™

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