Page 8 - LatAmOil Week 42

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Challenges ahead

Certain recent developments illustrate the scale of ongoing challenges for

the oil and gas industry, but various players are forging ahead undeterred

GLOBAL WELCOME to the latest edition of NewsBase’s waters of the South China Sea and has begun sign-
Roundup Global (NRG), in which our team of ing off on the development of LNG import capacity.
international editors provide you with a snap- Meanwhile, Qatar has embarked on a push to find
shot of some of the key issues affecting their more buyers for its LNG as it expands its liquefac-
regional beats. Get the NRG Oil & Gas Editor’s tion capacity.
Picks to your inbox every week for free. Just sign And in North America, mergers and acqui-
up here. sitions (M&As) are gaining pace, with Cono-
Certain recent developments have highlighted coPhillips confirming this week that it will acquire
the scale of challenges facing the oil and gas indus- Concho Resources. At the same time, reports of
try. Members of the OPEC+ alliance have warned merger talks between Pioneer Natural Resources
that the oil market could be pushed back into sur- and Parsley Energy have also emerged.
plus next year, as the coronavirus (COVID-19)
pandemic continues to hang over demand and new Africa: Policy initiatives
supply threatens to upset the balance. Several African countries have moved forward
Meanwhile, Rystad Energy has warned that with the development of new laws and institu-
hydrocarbon production on the UK Continental tions to govern the oil and gas sector over the last
Shelf (UKCS) is unlikely to exceed 2mn boepd week.
again, and the International Energy Agency (IEA) In Nigeria, members of the House of Repre-
has highlighted the challenges that lie ahead for the sentatives are gearing up for the second reading
LNG market. of the Petroleum Industry Bill (PIB), which is
Such challenges are not stopping progress on slated to take place next week. They are doing so
various fronts, though. The Philippines has lifted as more details of the legislation, which has been
a six-year moratorium on exploration in disputed in the works for years, come to light.

P8 www. NEWSBASE .com Week 42 22•October•2020