Page 16 - NorthAmOil Week 20 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global has prompted harsh criticism from the industry.
(NRG), in which the reader is invited to join In an announcement on May 12, the govern-
our team of international editors, who provide a ment said it had added oil products to the list of
snapshot of some of the key issues affecting their socially important goods, and that retailers now
regional beats. We hope you will like NRG’s new needed to declare plans to raise prices by 1% or
concise format, but by clicking on the headline link more to the state consumer market watchdog
for each section the full text will be available as some 20 days in advance.
before.
GLNG: Woodside to exit Kitimat LNG
AfrOil: Nedbank to halt funding for coal, oil Australia’s Woodside Energy announced this week
and gas projects that it would exit its 50% non-operated interest in
South Africa’s Nedbank has decided to phase out the proposed Kitimat LNG project on Canada’s
funding for fossil fuel projects as part of a wider West Coast. The company will either sell or wind
effort to reduce its net carbon emissions to zero up and restore the assets, leases and agreements
by 2045. The group will work towards this goal covering both the LNG terminal’s site in Bish
by halting funding to organisations involved in Cove, British Columbia, and the 480-km Pacific
thermal coal mining by 2025 and direct funding Trail pipeline route.
for crude oil and natural gas exploration.
LatAmOil: Peru LNG halts production
AsianOil: Indonesian upstream expands The Peru LNG consortium has suspended oper-
domestic content level ations at its natural gas liquefaction plant in
Indonesia’s upstream watchdog SKK Migas has Pampa Melchorita, citing an issue with one of its
revealed that the domestic content level in the compressors. Jeanne Phillips, a senior vice-pres-
country’s oil and gas projects during the first four ident at Hunt Oil, the leader of Peru LNG, con-
months of the year exceeded the government’s firmed the shutdown last week and indicated
target. The regulator said that domestic content that the consortium had taken the plant offline
levels reached 58% of project costs by the end of on or about May 7.
April, compared with the government’s full-year
target of 57%. MEOG: Iran optimistic as export route
opens
DMEA: UAE’s H2 plant and Jordan’s im- It has been a busy week for Iran, which is work-
ports ing to ramp up oil output as it eyes a lifting of
This week’s DMEA looks at the launch of the sanctions and increased exports. Talks between
Middle East’s first green hydrogen facility and world powers are yet to overcome the remaining
Jordan’s tender for Iraqi crude shipments. Emi- obstacles to resume the 2015 Joint Comprehen-
rati Energy and Infrastructure Minister Suhail sive Plan of Action (JCPOA), but Iran appears to
Al Mazrouei announced that the UAE will this be working on the assumption that these efforts
week commission its first green hydrogen plant will bear fruit.
to produce clean transportation fuels for use
during Dubai Expo 2020 due to take place later NorthAmOil: Gulf Coast LNG projects inch
this year. Meanwhile, Jordan’s Ministry of Energy forward
and Mineral Resources (MEMR) launched a ten- The developers of two new LNG export projects
der for the transport of 10,000 bpd of Iraqi crude on the US Gulf Coast have said over the past
by road from Kirkuk to Zarqa. week that they are making progress towards final
investment decisions (FIDs) that are scheduled
EurOil: Neptune stung by outages for later this year. At the Citi Global Energy &
Northwest European producer Neptune Utilities Virtual Conference last week, Telluri-
Energy suffered a 22% year-on-year decline in an’s executive chairman, Charif Souki, said the
oil and gas output in the first quarter as a result company was now “just weeks” from finishing
of outages across its portfolio. The company’s the commercialisation of Phase One at its Drift-
supply averaged 125,700 barrels of oil equiva- wood LNG terminal in Louisiana. Separately,
lent per day in the three-month period, versus NextDecade said in a new investor presentation
162,100 boepd a year earlier. on its website that it was progressing commer-
cial negotiations with “multiple counterparties”
FSUOGM: Ukraine imposes fuel price con- to enable an FID in 2021 on two trains at Rio
trols Grande LNG.
Ukraine’s government has introduced con-
trols on retail gasoline and diesel prices in an See the archive and sign up to receive NRG Editor’s
attempt to stem rising inflation, in a move that Picks for free by email each week here.™

P16 www. NEWSBASE .com Week 20 20•May•2021