Page 17 - NorthAmOil Week 13 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global oil equivalent per day (boepd), including 1.5bn
(NRG), in which the reader is invited to join cubic metres per year of gas.
our team of international editors, who provide a
snapshot of some of the key issues affecting their FSU OGM: Fresh gas find in Caspian
regional beats. We hope you will like NRG’s new BP and Azerbaijan’s state-owned SOCAR have
concise format, but by clicking on the headline link made an ultra-deep gas and condensate discov-
for each section the full text will be available as ery in the Caspian Sea after 14 months of drilling.
before. The well at the Shafag-Asiman block was sunk
to a depth of almost 7,200 metres. It is the first
AfrOil: Mozambique’s security setback borehole to be completed in years in the Azeri
The Mozambique LNG consortium has suffered Caspian Sea, where exploration activity has been
another serious setback within the last week. muted because of low oil prices and rig scarcity.
Total, the operator of the group, has suspended
operations and evacuated nearly all workers GLNG: Cheniere’s Corpus Christi Train 3
from the site on the Afungi Peninsula where it approved to enter service
has been building a gas liquefaction plant since The third train at Cheniere Energy’s Corpus
March 24, when the nearby town of Palma Christi LNG export terminal on the Texas Gulf
was besieged by fighters loyal to Ahlu Sunnah Coast has been approved by the US Federal
Wa-Jamo (ASWJ). Mozambique’s armed forces Energy Regulatory Commission (FERC) to enter
have been trying to regain control of Palma, but commercial service. This comes after the train has
as of press time, security conditions in the area already been operating in test mode for months.
were still precarious.
LatAmOil: AMLO’s latest salvo
AsianOil: India continues to rail against oil Mexican President Andres Manuel Lopez Obra-
supply cuts dor has reportedly stepped up his campaign to
The Indian government maintained its pressure secure state control over the energy industry.
on OPEC+ and Saudi Arabia this past week, According to Reuters, the president has sent a
pushing for an easing in production cuts in order bill to Congress that gives the government the
to lower international oil prices. right to suspend permits granted to the develop-
Indian Minister of Petroleum and Natural Gas ers of oil and gas fields under certain conditions.
Dharmendra Pradhan said on March 26 that his
country’s energy purchases were driven by com- MEOG: Oil deals abound
mercial interests and not bilateral relations. Last week was one of deals in the Middle East
as political, field development and maintenance
DMEA: Money matters in Saudi agreements were reached as producers look to
Two significant Saudi Arabian financial deals sustain and grow production. Iraq signed deals
came to the fore this week centring on petro- with Total and Schlumberger while noting its
chemicals and pipelines. Saudi Aramco and intention to increase production capacity to 8mn
Dow Chemical reached a debt restructuring barrels per day (bpd) by 2029.
agreement for their Sadara Chemical Co. joint
venture (JV) while allocating more gas to the NorthAmOil: Chevron reportedly eyeing
plant. Aramco is also reported to have asked Shell’s Pacific Northwest refinery
banks for proposals to provide funding that it Super-major Chevron has reportedly emerged as
intends to offer companies considering leasing the leading contender to buy a refinery in the US
a stake in its oil pipelines division. Pacific Northwest that is owned by Royal Dutch
Shell. This was reported by Reuters, which cited
Euroil: North Sea M&A heats up three sources familiar with the matter on March
Polish gas company PGNiG has continued its 27 as saying that Chevron was first in line to buy
acquisition spree off Norway with its biggest the Puget Sound refinery in Anacortes, Wash-
purchase to date worth $615mn. ington State.
The state-owned firm has struck a deal to
acquire the Norwegian business of UK group See the archive and sign up to receive NRG Editor’s
Ineos, which produces around 33,000 barrels of Picks for free by email each week here.™

Week 13 01•April•2021 www. NEWSBASE .com P17