Page 18 - AsianOil Week 16 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global standard gasoline supply by over 3.6mn
(NRG), in which the reader is invited to join tonnes per year, and Euro-5 standard diesel
our team of international editors, who provide a by 25mn tpy.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG's new GLNG: NextDecade advances clean LNG
concise format, but by clicking on the headline IT has been another busy week for US-based
link for each section the full text will be available LNG developer NextDecade, which is trying to
as before. position its proposed Rio Grande liquefaction
project at Texas’ Port of Brownsville as one of
AfrOil: Nigeria adds tax, royalty cuts to PIB the most environmentally friendly facilities of
NIGERIA’S government has reportedly agreed its kind. The company has announced two sep-
to revise provisions of the Petroleum Indus- arate partnerships in recent days that are geared
try Bill (PIB), the oil and gas law now under towards bolstering Rio Grande LNG’s green
discussion in the National Assembly. Sources credentials.
closely involved with the legislation told
Reuters last week that Abuja had acceded to LatAmOil: Natixis nixes Ecuadorean oil finance
requests from international oil and gas com- FRANCE’S Natixis is set to join the ranks of
panies (IOCs) for reductions in royalty and financial institutions that have stopped support-
tax rates. ing trade deals involving Ecuadorean crude oil.
The French bank informed Reuters last week
DMEA: No permit for Tema, Egypt goes green that it intended to stop financing trade in Ecua-
ENVIRONMENTAL concerns were at the heart dorean oil by April 2022.
of the downstream headlines in MEA this week
with Ghana’s Environmental Protection Agency MEOG: Iran’s quake and Iraq’s Qurna-1
(EPA) saying that a proposed new refinery is A major earthquake disrupted oil operations in
unlikely to be given a permit, while Egypt is southern Iran this week, while across the border,
planning to establish a bioethanol plant. Iraq is seeking a new lead developer for West
Qurna-1 as it shops ExxonMobil’s stake. An
Euroil: UK CCS plans take shape earthquake in southern Iran caused damage to
CLEAN energy developer Storegga has brought an important oil facility over the weekend, with
on board Royal Dutch Shell and Harbour Energy state TV saying that production had been dis-
as equal-equity partners at its Acorn carbon, rupted. Iraq’s Ministry of Oil (MoO) said over
capture and storage (CCS) project in Aberdeen- the weekend that it is holding discussions with
shire. The group expect to launch the project US companies over the acquisition of a 32.7%
in the mid-2020s, with its annual CO2 storage stake in the West Qurna-1 (WQ-1) oilfield cur-
capability reaching 5mn tonnes per year (tpy) by rently held by super-major ExxonMobil.
the end of the decade.
NorthAmOil: Permian developments
FSU OGM: Russia overhauls refineries VARIOUS developments have emerged from
RUSSIA’S energy ministry has entered into the prolific Permian Basin in recent days, illus-
investment deals with 14 refineries worth trating the region’s ongoing dominance of the
RUB800bn ($10.5bn) for the construction of US oil and gas industry. Most notably, BP was
new processing units. The investments will be reported to be planning to phase out routine
spent building 30 units, the commissioning of flaring of associated natural gas in the basin by
which will lead to a growth in Russian Euro-5 2025.™

P18 www. NEWSBASE .com Week 16 22•April•2021