Page 12 - AsianOil Week 12 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA system by 2050. parties are actively working towards the
Today, India has opportunities to chart fulfilment of conditions precedents under the
Net zero emissions possible out its own unique development pathway farm-out agreement, the Transferor and the
rather than take up fossil-fuel driven paths
Transferee have mutually agreed in writing
but challenging previously pursued by developed economies. to extend the long stop date to 30 June 2021,
or such later date as may be agreed in writing
At the same time, it will be important for
Energy is at the heart of development and India to ensure that its energy pathway is between parties.
India has high aspirations as it strives to create socially inclusive, economically viable and Shareholders, noteholders and potential
a better life for its population of almost 1.4 ensures long term sustainability of resources. investors of the Company should exercise
billion people. But how can India accomplish ROYAL DUCTH SHELL, March 23, 2021 caution when dealing in the Company’s
this and make progress towards reaching securities. Stakeholders and potential investors
a net-zero emissions economy by 2050 in who are in doubt as to the action they should
support of broader well-being? To reach a SOUTHEAST ASIA take should consult their stockbrokers, bank
net-zero emissions energy system by 2050, managers, solicitors, accountants or other
India needs a suitable policy and innovation KrisEnergy reveals farm-out professional advisors.
driven context to deploy clean energy KRISENERGY, March 23, 2021
technologies on a massive scale. It requires extension
more and faster deployment of large-scale Australian court delivers
solar, wind and hydro power to enable greater KrisEnergy, an upstream oil and gas company,
electrification across the country. It also refers to its announcements dated 14 February judgment on Montara cases
requires the development of new fuels, such as 2020, 19 June 2020 and 16 September
liquid biofuels and biogas, as well as hydrogen 2020 and 16 December 2020 in relation to Referring to the Class Action lawsuit against
produced from electrolysis. Energy efficiency the entry by its wholly-owned subsidiary, PTTEP Australasia (Ashmore Cartier) Pty
must improve significantly, and carbon KrisEnergy (Vietnam 115), into a farm- Ltd (PTTEP AAA) in the Federal Court of
removals (from technology and nature-based out agreement with a major international Australia brought by a group of Indonesian
solutions) will have a critical role in moving oil and gas company for the transfer of its seaweed farmers, claiming damages to their
towards zero emissions. These are the key entire 100% working interest in the Block seaweed crops caused by the 2009 Montara
insights from a new scenario sketch by TERI 115/09 production sharing contract, offshore incident in Australian waters. On March 19,
and Shell, that has assessed India’s technology Vietnam for a nominal cash consideration. 2021, the trial judge of the Federal Court
and policy options if it were to accelerate Further to the announcements, the of Australia has delivered the class action
its transition to a net zero emissions energy Company wishes to announce that while judgment.

P12 www. NEWSBASE .com Week 12 25•March•2021