Page 6 - LatAmOil Week 28 2020
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LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil
NRG: Around the world
Depressed margins, deal-making, marginal fields and the hydrogen revolution are in the spotlight
COMMENTARY
WELCOME to the latest edition of NewsBase’s Roundup Global (NRG), in which our team of international editors provide you with a snap- shot of some of the key issues affecting their regional beats. Get the NRG Oil & Gas Editor’s Picks to your inbox every week for free. Just sign up here.
Topics covered in this week’s NRG include depressed margins, deal-making, marginal elds, the hydrogen revolution, strategic LNG fleet, new discoveries and contracts, restoring pipeline and shale ows and the ups and downs of energy exports. NewsBase’s monitors report on both new developments and continuing coverage of world- wide oil and gas.
Setbacks in Africa
Several African countries have reported disap- pointments this week.
Libya’s National Oil Corp. (NOC) has expe- rienced a major setback. A er announcing on July 10 that it was moving towards recovery and had li ed force majeure on its export terminals, the company reported on July 13 that Khal- ifa Ha ar’s Libyan National Army (LNA) had renewed the blockade that had caused oil pro- duction to drop so precipitously between Janu- ary and June. NOC chairman Mustafa Sanalla
described this development as “a grave threat to Libyan and global security.”
Further south, Ghana expects the global fall in energy demand and oil prices to hurt its economy this year. e country’s oil revenues are likely to fall short of the target by $1.04bn in 2020, while its GDP may shrink 2.6-6.8%. Meanwhile, licensing rounds remain suspended as a result of the coronavirus (COVID-19) pandemic.
Meanwhile, Botswana is continuing to report widespread fuel shortages as a result of reduced imports from South Africa. President Mokgweetsi Masisi has said his government will ration fuel sales and review lling stations’ operating hours in a bid to help balance supply and demand.
On a more upbeat note, Nigeria saw natural gas output rise by 3.73% in April. According to Nigerian National Petroleum Corp. (NNPC), the West African state’s national oil company, more than 60% of total production was exported or sold on the domestic market. Deliveries to gas- red thermal power plants (TPPs) accounted for slightly more than 63% of domestic sales.
If you’d like to read more about the key events shaping Asia’s oil and gas sector then please click here for NewsBase’s AfrOil Monitor.
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w w w . N E W S B A S E . c o m Week 28 16•July•2020