Page 16 - FSU OGM Week 11 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global in the Q-10A gas field and the Q-10B, Q-11B
(NRG), in which the reader is invited to join and M10/M11 discoveries, as well as other
our team of international editors, who provide a projects in the Dutch North Sea.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG's new GLNG: Albanian feasibility study, US exports
concise format, but by clicking on the headline and carbon-compensated LNG in Spain
link for each section the full text will be available Plenty of LNG-related developments continue
as before. to emerge. Last week, Excelerate Energy and
ExxonMobil LNG Market Development signed
AfrOil: Objections to fuel price hikes a memorandum of understanding (MoU) with
Fuel price hikes have sparked anger in two Afri- the government of Albania to conduct a feasi-
can countries over the last week. In Nigeria, the bility study for a potential LNG import terminal
Petroleum Products Pricing Regulatory Agency in the country
(PPPRA) has come under fire for raising the
pump price of gasoline to NGN209.61-212.61 LatAmOil: Pemex’s big discovery
($0.55-56) per litre just a few weeks after pledg- Mexico’s national oil company (NOC) Pemex
ing publicly that it would not push costs above has reported the discovery of a large new field
NGN200 per litre ($0.52) in the month of March. off the coast of Tabasco state in the southern
The increase has met with a cold reception Gulf. Octavio Romero, the CEO of Pemex, has
among Nigerian consumers, who are already described the site as “gigantic” and says it may
fretting over supply shortages. hold as much as 1bn barrels of crude in combi-
nation with other nearby deposits.
AsianOil: Indonesia sets upstream content
targets MEOG: ADNOC deal and Iraqi impasse
Indonesia’s upstream watchdog SKK Migas has As oil exporters around the Middle East ride
set a local content target for upstream invest- high on bullish prices, attention has returned to
ment in 2021, after the COVID-19 pandemic deal-making.
derailed last year’s target. Last week, Abu Dhabi National Oil Co.
The head of SKK Migas’ goods and services (ADNOC) continued its recent spate of stra-
procurement management division, Erwin tegic tie-ups with Asian companies, agreeing a
Suryadi, said on March 10 that upstream pro- broad agreement with Malaysian counterpart
curement spending had amounted to US$3bn Petronas. The Emirati firm said that they would
in 2020, with local content providers winning explore opportunities throughout the oil and
about 56% of that total. gas value chain, focusing on conventional and
unconventional resources in the upstream as
DMEA: Tema time and tankers under fire well as assessing potential fuel and petrochem-
Last week, Ghana’s energy minister visited the icals projects in the downstream.
country’s struggling Tema Oil Refinery, giving a
rallying cry to workers and pledging state sup- NorthAmOil: US rig counts down but pro-
port for the unit. Despite efforts to reinvigorate duction bouncing back
the unit, Tema continues to operate at reduced The US’ active rig count edged down by one last
levels following an explosion at its distillation week, according to oilfield services firm Baker
unit four years ago. Given the lack of progress Hughes. This marked the first time the US rig
to date, there is reason to doubt the MP’s claims count had fallen since November. See the archive and
that Tema would become one of West Africa’s The small change does not necessarily indi- sign up to receive
premium refineries, however, there is a distinct cate a reversal of the overall upward trend over *NRG Editor’s Picks*
lack of competition in the region. recent months, but does show that US drillers for free by email each
continue to proceed with caution. week here
Euroil: Tulip Divests Dutch Fields In the week up to March 12, the oil-focused
Dutch firm Tulip Oil has agreed to sell a rig count in the US dropped to 309 from 310 the
group of gas fields in the Netherlands’ off- previous week, while the gas rig count stayed flat
shore zone to AIM-listed investment group at 92 for a total of 402 active rigs in the country.
Kistos for at least €220mn ($263mn), the While rig counts have been recovering over the
companies said on March 12. past four months, they are still at less than half
Tulip will sell its subsidiary Tulip Oil the levels seen a year ago, when the total was
Netherlands, which owns operating interests reported at 792.™

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