Page 16 - EurOil Week 08 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global in the Caspian Sea, Turkmen state media has
(NRG), in which the reader is invited to join reported.
our team of international editors, who provide a For years Dostluk, formerly known as
snapshot of some of the key issues affecting their Kapaz by Azerbaijan and Serdar by Turk-
regional beats. We hope you will like NRG's new menistan, was contested by the two Caspian
concise format, but by clicking on the headline countries. But the pair signed a memorandum
link for each section the full text will be available of understanding (MoU) in late January on
as before. joint exploration of the deposit.
.
AfrOil: Angolan MPs vote on downstream,
exploration projects GLNG: Pair of Qatari deals
The government of Angola has announced plans Two separate LNG-related deals have been
to reduce the country’s dependence on imported announced this week, involving Qatargas and
petroleum products. To this end, legislators have its parent company, Qatar Petroleum (QP).
authorised President João Lourenço to offer Italy’s Saipem said it had received a contract
special incentives for the construction of the worth around $1.7bn from Qatargas for engi-
Cabinda refinery. neering, procurement, construction and instal-
lation (EPCI) of various offshore facilities at
AsianOil: CNOOC Ltd makes Bohai Bay Qatar’s North Field.
discovery
State-run Chinese offshore developer CNOOC
Ltd announced on February 22 that it had made LatAmOil: Mexican government offers sup-
a significant shallow-water oil and gas discovery port to Pemex
in the Bohai Bay. Mexico’s government is offering additional fis-
The discovery in the Bozhong 13-2 structure, cal support to Pemex, the national oil company
which CNOOC Ltd described as “large-sized” (NOC), in the form of a stimulus package that
without providing a resource estimate, is located includes around $3.5bn in tax breaks and a cap-
in the bay’s south-western Ring of Bozhong Sag, ital boost of $1.3-1.6bn. Its plan complements
in around 23 metres of water. a set of earlier concessions designed to reduce
The major said on February 15 that PFLNG Pemex’s profit-sharing duties in 2020 and 2021.
DUA had produced and liquefied its first gas
from the deepwater Rotan field, which lies 140 MEOG: Price rally sees improved sentiment
km off Kota Kinabalu, on February 6. The ongoing oil price rebound has seen sen-
timent throughout the Middle East improve
DMEA: Downstream dealing picks up ahead of the upcoming OPEC+ meeting, which
Having spent years talking about its plans to is rumoured to see a change of tack from Saudi
overhaul the country’s four state-owned refin- Arabia as the Kingdom considers reversing its
eries, Nigeria’s NNPC last week finally secured decision to cut output.
funding for a major rehabilitation project focus-
ing on the largest unit. NorthAmOil: Profits, growth opportunities
The Port Harcourt maintenance project is for TC Energy
now expected to kick off during Q1 and will look Canada’s TC Energy has reported a net profit
to return the 210,000 barrel per day (bpd) refin- attributable to common shares of CAD1.124bn
ery to 90% capacity. ($890mn) for the fourth quarter of 2020, up
from CAD1.108bn ($878mn) year on year.
While the company expressed its disappoint-
FSU OGM: Lukoil eyes Caspian opportuni- ment with US President Joe Biden’s cancellation
ties of the permit of the Keystone XL pipeline pro-
Russian oil firm Lukoil has expressed inter- ject, TC Energy’s CEO, François Poirier, noted
est in developing the Dostluk oil and gas field that it had a “large and diversified” asset base.™
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P16 www. NEWSBASE .com Week 08 25•February•2021