Page 18 - DMEA Week 12 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global government, according to a state report seen by
(NRG), in which the reader is invited to join Vedomosti this week.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: Russian uptick, US project scrapped
regional beats. We hope you will like NRG’s new Russia approved a long-term LNG strategy this
concise format, but by clicking on the headline week, targeting up to a three-fold increase in
link for each section the full text will be available production to 140mn tonnes per year (tpy) by
as before. 2035. Several Russian LNG projects are in vari-
ous stages development, mainly led by Novatek
AfrOil: Pros and cons of PIB and Gazprom.
Obo Idornigie, vice-president of sub-Saharan
African research for Welligence Energy Ana- LatAmOil: Surinamese disappointment
lytics, recently discussed the strengths and Tullow Oil (UK/Ireland) and its partners in
weaknesses of Nigeria’s Petroleum Industry Bill Block 47 offshore Suriname have finished drill-
(PIB) with AfrOil. He praised the legislation for ing the Goliathberg Voltzberg North-1 (GVN-1)
establishing a stronger foundation for the devel- exploration well without making a commercial
opment of Nigeria’s abundant reserves of natural discovery.
and associated gas, as well as crude oil. In a statement, Tullow said the well had
encountered a good-quality reservoir but regis-
AsianOil: Velesto wins Petronas contracts tered only minor shows of crude oil.
Malaysia’s state-owned Petronas has awarded
drilling contracts for up to six shallow-water MEOG: Aramco’s results and Iraq’s budget
wells to local service provider Velesto Energy. Finance took centre stage in the Middle East
Velesto said in a stock exchange filing on this week as Saudi Aramco announced its 2020
March 19 that wholly owned subsidiary Velesto results and Iraq’s parliament postponed a vote on
Drilling had won two contracts worth more than the country’s budget by a week.
$20mn for the NAGA 2 and NAGA 5 jack-up Aramco’s results made for fascinating read-
rigs. ing, with the company posting massive profits
despite a $39bn reduction in net income on the
EurOil: Ineos picks up Danish assets back of the coronavirus (COVID-19) pandemic.
The UK’s Ineos announced on March 18 it had
reached a deal to buy the Danish arm of US oil NorthAmOil: Spotlight on decarbonisation
firm Hess for $150mn. Two leading Canadian oil sands producers –
The move comes months after Ineos closed its Suncor Energy and Imperial Oil – are in the
$5bn takeover of BP’s petrochemicals division. news for reasons related to decarbonisation.
Ineos also controls upstream assets off Denmark, In Suncor’s case, the company announced
Norway and the UK. last week that it was investing in Svante, a carbon
capture technology company, as it seeks ways to
FSU OGM: Gazprom share sale mulled offset greenhouse gas (GHG) emissions from its
Russia continues to weigh up options for funding oil and gas operations.
a $25bn, 10-year gasification programme, with Imperial, for its part, has urged investors to
the government reportedly suggesting the issue vote against a shareholder proposal to set a target
of new shares in Gazprom as a solution. of net zero emissions on a company-wide basis
The shares would be bought by the by 2050.™

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