Page 8 - MEOG Week 04 2021
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MEOG                                         PERFORMANCE                                               MEOG


       Fire engulfs tankers at




       Syria’s Homs refinery




        SYRIA            A major oil fire broke out at an oil depot at Syria’s  past. But it did not say whether the latest blast
                         Homs oil refinery on January 19, spreading to a  was the result of an attack.
                         number of oil tankers, according to state media.  While violence has subsided in recent years,
                           The cause of the fire is unclear, although it  attacks by insurgents and rebels on govern-
                         engulfed seven tankers while they were unload-  ment-run oil and gas installations are still rou-
                         ing oil, according to Syrian Oil Minister Bassam  tine. Islamic State militants have been scaling up
                         Touma. The incident comes as Syria struggles  hit-and-run attacks in the Homs area in recent
                         with serious fuels shortages. Homs is the coun-  months. The Russian air force has assisted the
                         try’s main refinery, with a processing capacity of  government by bombing suspected hideouts of
                         120,000 barrels per day (bpd).       militants in the region in recent weeks.
                           “The company and the refinery are fine,”   The Homs refinery and Syria’s other main
                         Touma told state media.              refinery in Banias on the Mediterranean coast
                           The fire was extinguished by civil defence  are both struggling to obtain enough oil to
                         teams later that day, the Homs governor, Bassam  meet the country’s needs. Iranian supplies have
                         Barsik, said. “There are no human casualties and  been unreliable because of sanctions, and most
                         we are working on containing the spread of the  domestic fields are controlled by the US-backed
                         fire,” he said.                      Syrian Democratic Force (SDF).
                           The government has been quick to blame for-  Syria has had to ration gasoline and other
                         eign-backed “terrorists” for such incidents in the  fuels following months of shortages.™


                                                        POLICY

       Foreign firms must partner with




       locals to win Iran contracts




        IRAN             IRAN’S Minister of Petroleum Bijan Zanganeh  may actually create a further stumbling block
                         this week said that foreign companies would  given these companies’ direct or indirect rela-
                         need to partner with Iranian companies in order  tionships with the Islamic Revolutionary Guard
                         to win work in Iran’s oil industry.  Corps (IRGC).
                           Zanganeh, who was quoted by the official   Khatam-al Anbiya Construction Head-
                         energy sector outlet Shana, said that Iran had  quarters (KAAC), the engineering arm of the
                         always welcomed the presence of international  hard-line IRGC, was awarded a contract in early
                         firms in its energy projects.        January covering the second, third and fifth
                           Speaking on the sidelines of the 25th Iran Oil,  phases of the 63bn barrel Ahvaz oilfield as well
                         Gas, Refining and Petrochemical Conference, he  as the offshore Reshadat deposit.
                         added that there were various stipulations under   Meanwhile, Mashin Sazi Arak, in which
                         consideration for allowing companies to work  KAAC is known to hold shares, was awarded
                         in the energy sector, but the most important of  a deal for the Bibi Hakimeh oilfield, which has
                         these would be partnership with a local firm.  around 500mn barrels of oil remaining.
                           This comes as little surprise, given that Iran   While the group has interests in various assets
                         has long implemented an approach of knowl-  such as the supergiant South Pars gas field and
                         edge-transfer on all projects involving interna-  Marun oilfield through its reported 812 affili-
                         tional operators or contractors.     ates and subsidiaries, including the high-profile
                           However, that he said it in the week follow-  MAPNA Group, Oil Industries Engineering
                         ing the swearing into office of US President Joe  and Construction (OIEC), Iran Marine Indus-
                         Biden suggests that Tehran is hopeful that US  trial Co. (SADRA), Persia Oil and Gas Industry
                         sanctions will be removed, in theory allowing  Development Co. (POGIDC), Tadbir Energy
                         IOCs to return.                      Development Co. and Mashin Sazi, this week’s
                           That being said, recent deals awarded to local  contract award appears to have been the first
                         companies by the Ministry of Petroleum (MoP)  directly awarded to KAAC for several years.™




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