Page 14 - AsianOil Week 12 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global The shares would be bought by the government,
(NRG), in which the reader is invited to join according to a state report seen by Vedomosti
our team of international editors, who provide a this week.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG's new GLNG: Russian strategy, US project
concise format, but by clicking on the headline RUSSIA approved a long-term LNG strategy
link for each section the full text will be available this week, targeting up to a three-fold increase
as before. in production to 140mn tonnes per year (tpy) by
2035. Several Russian LNG projects are in vari-
AfrOil: Pros and cons of PIB ous stages development, mainly led by Novatek
OBO Idornigie, vice-president of sub-Saha- and Gazprom.
ran African research for Welligence Energy
Analytics, recently discussed the strengths and LatAmOil: Disappointment off Suriname
weaknesses of Nigeria’s Petroleum Industry Bill TULLOW Oil (UK/Ireland) and its partners in
(PIB) with AfrOil. He praised the legislation for Block 47 offshore Suriname have finished drill-
establishing a stronger foundation for the devel- ing the Goliathberg Voltzberg North-1 (GVN-1)
opment of Nigeria’s abundant reserves of natural exploration well without making a commercial
and associated gas, as well as crude oil. discovery. In a statement, Tullow said the well
had encountered a good-quality reservoir but
DMEA: Jazan launch and Nigerian scrutiny registered only minor shows of crude oil.
TWO refineries that have previously faced com-
plications made the news this week for very MEOG: Aramco’s results and Iraq’s budget
different reasons. In Saudi Arabia, state oil firm FINANCE took centre stage in the Middle East
Aramco announced that operations had begun this week as Saudi Aramco announced its 2020
at its Jazan refinery on the Red Sea coast near results and Iraq’s parliament postponed a vote on
the border with Yemen. Meanwhile in Nigeria, the country’s budget by a week. Aramco’s results
following the approval of $1.5bn of state funds made for fascinating reading, with the company
to be provided for the rehabilitation of the Port posting massive profits despite a $39bn reduc-
Harcourt refinery, politicians have cast asper- tion in net income on the back of the coronavirus
sions on the move (COVID-19) pandemic.

Euroil: Ineos picks up Danish assets NorthAmOil: Decarbonisation and the oil sands
THE UK’s Ineos announced on March 18 it had TWO leading Canadian oil sands producers
reached a deal to buy the Danish arm of US oil – Suncor Energy and Imperial Oil – are in the
firm Hess for $150mn. The move comes months news for reasons related to decarbonisation.
after Ineos closed its $5bn takeover of BP’s petro- In Suncor’s case, the company announced last
chemicals division. Ineos also controls upstream week that it was investing in Svante, a carbon
assets off Denmark, Norway and the UK. capture technology company, as it seeks ways
to offset greenhouse gas (GHG) emissions from
FSU OGM: Russia mulls Gazprom sale its oil and gas operations. Imperial, for its part,
RUSSIA continues to weigh up options for fund- has urged investors to vote against a shareholder
ing a $25bn, 10-year gasification programme, proposal to set a target of net zero emissions on a
with the government reportedly suggesting the company-wide basis by 2050. ™
issue of new shares in Gazprom as a solution.

P14 www. NEWSBASE .com Week 12 25•March•2021