Page 10 - FSUOGM Week 27 2021

FSUOGM COMMENTARY FSUOGM

higher risk countries, such as the Congo? According to BP’s former CEO Bob Dud-
It is easy to announce grandiose carbon-neu- ley, the answer to industry’s global challenges
tral plans to appeal to the masses. However, a is co-operation. Change is inevitable. But the
more long-term, realistic strategy is required oil and gas sector can play a decisive role in this
which considers the stability of the global energy process: it has the technology, people and ideas
supply. Karen Kostanian, managing director, to help solve global climate challenges.
EEMEA Energy Research at Bank of America, Cleaner oil produced at projects with a low
rightly pointed out that we need to keep in mind carbon footprint, such as Rosneft’s Vostok Oil
the growth of the global economy. What kind of project, are one such solution. These "green"
consumption can we expect in 30 years when barrels of oil are expected to be in high demand,
developing countries account for the bulk of given the low production costs and associated
demand? logistical advantages, with world-leading trad-
As Ivan Glasenberg noted, talking about the ers Trafigura and Vitol already backing the
energy transition is far easier than evaluating project.
what it will cost us and whether we can afford While reducing emissions is undoubtedly
to achieve these highly ambitious goals. It will important, the rush to various green deals and
involve significantly developing our basic tech- policies could increase the risk of blackouts.
nical capabilities, investing around $4 trillion Blacklisting fossil fuels and pursuing total car-
annually to 2030, and addressing social reper- bon neutrality instead of a sound carbon reduc-
cussions in the form of mass unemployment, tion strategy will result in skyrocketing energy
limited mobility and reduced access to energy prices, affecting both the stability of the energy
resources. sector and the global economy.™

PIPELINES & TRANSPORT

Transneft resumes oil flow after

chloride contamination

RUSSIA RUSSIAN oil pipeline operator Transneft Pumping activities resumed after the oil was
resumed its receipt of oil from Rosneft sub- removed and the pipelines were cleaned, Trans-
Organic chlorides sidiary Samaraneftegaz on June 26, after halt- neft said.
can damage refining ing deliveries three days earlier after detecting “There is no threat of contamination of the
equipment if left in organic chlorides. system. Preparations have begun for techno-
the oil. Organic chlorides are chemicals used at oil- logical procedures to normalise the oil. All con-
fields to boost recovery, but they can damage sumers receive oil according to the established
refining equipment if left in the oil. But Transneft quality,” Transneft said.
has boosted efforts to detect them since millions The allowed quantity of organic chlorides in
of barrels of crude were found to have been con- oil is six parts per million under Russian regula-
taminated in the Druzhba oil pipeline system in tions, but samples taken at the Mukhanovo sta-
2019. The so-called dirty oil crisis led to Russia tion had a concentration of up to 94 ppm.
losing billions in revenues and compensation Rosneft said on June 28 it was too early to
fees. draw conclusions about the source of the chlo-
Transneft halted oil flow at the Samara-Lopa- rides. It said Samaraneftegaz had “taken all nec-
tino and Kuibyshev-Unecha-2 pipelines in the essary measures to prevent oil that does not meet
Samara region after detecting contaminated the standards from entering the oil quality meas-
oil at the Mukhanovo oil pumping station. It urement system.”
estimates that some 350,000 tonnes of oil was Chlorides were also found to have entered the
tainted. For comparison, some 5mn tonnes were pipeline system in the Samara region in the 2019
affected in the 2019 crisis. incident. ™

P10 www. NEWSBASE .com Week 27 07•July•2021