Page 16 - LatAmOil Week 06 2021

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global separately that the find was 44-69mn barrels of
(NRG), in which the reader is invited to join oil equivalent (boe) in size, with DNO adding
our team of international editors, who provide a that it was “well above” expectations.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new FSU OGM: Rosneft scores more tax breaks
concise format, but by clicking on the headline Russia’s state oil producer Rosneft has signed
link for each section the full text will be available an investment deal worth up to RUB46bn
as before. ($617mn) annually with the Natural Resources
Ministry, covering incentives at the large but
AfrOil: Nigeria vs. IOCs mature Priobskoye oilfield in Western Siberia.
Nigeria’s national oil company (NOC) has begun Output at the Soviet-era Priobskoye field
re-negotiating the terms of its commercial con- peaked at 33.8mn tonnes (679,000 barrels per
tracts with a number of international majors. day) in 2009 and has been declining ever since,
Mele Kyari, the group managing director of dropping to 480,000 bpd in 2019. Even so, it still
Nigerian National Petroleum Corp. (NNPC), accounts for roughly 5% of Russia’s oil output.
said last week that the NOC had taken this step
in order to ensure that oil and gas projects would GLNG: Imports up for PGNiG
continue to attract investment. He declined to Poland’s PGNiG said last week that its LNG
say exactly which terms were under discussion, imports rose 10% in 2020 to reach 3.76bn cubic
but he did state that NNPC was offering inter- metres. This comes as the country continues
national oil companies (IOCs) a choice between to buy natural gas from Russia, but is trying to
negotiating revisions now or accepting the terms diversify its sources of supply ahead of the expiry
that will be applied once the Petroleum Industry of a contract with Russia’s Gazprom in 2022.
Bill (PIB) is passed later this year. “For several years we have been consistently
limiting the import of natural gas from Russia,”
AsianOil: CNOOC Ltd aims to boost oil and said the president of PGNiG’s board, Paweł
gas production this year Majewski. “On the other hand, the possibilities
State-run Chinese offshore developer CNOOC of further reducing supplies from the eastern
Ltd has announced plans to boost its oil and gas direction are limited. We are bound by the ‘take
production by 3-5% this year as it seeks to bring or pay’ formula included in the Yamal contract
on stream several new fields both at home and binding PGNiG until the end of 2022,” he added.
abroad.
The listed arm of state-owned China National MEOG: Updates abound
Offshore Oil Corp. (CNOOC) aims to produce Iran, Oman and Kuwait grabbed the headlines in
545-555mn barrels of oil equivalent in 2021, up the Middle East over the last week with a string
from a projected 528mn boe in 2020, the com- of significant announcements on project pro-
pany said in a February 4 filing to the Hong Kong gress and contract awards.
Stock Exchange (HKEx). Foremost of these was the announcement
from Tehran that it will soon complete the up-
DMEA: Ethiopia hopes railway project will and downstream phases of the supergiant South
improve fuel distribution Pars offshore gas field, while the country’s oil
Ethiopia launched construction on February minister stated that nationwide gas output has
1 of a Chinese-backed railway project that is reached a record level of 1.04bn cubic metres per
expected to improve fuel distribution across the day, with around 700mn cubic metres per day
country. coming from South Pars alone.
The railway will run from Djibouti, where
fuel is imported, to the central Ethiopian town NorthAmOil: ConocoPhillips in court over
of Awash. The project’s contractor, China Civil Willow construction
Engineering Construction Corp. (CCECC), is This week, a court has delayed the start of winter
set to finish construction in nine to 12 months. construction at ConocoPhillips’ Willow project
in Alaska. US District Judge Sharon Gleason
EurOil: Norway hails first 2021 find said in a decision on February 6 that she would
Norway has hailed its first oil and gas discov- temporarily bar ConocoPhillips from opening a
ery of 2021, made near the Troll gas field in the gravel mine or building a gravel road at the Wil-
North Sea. low site. This came after conservation groups
The Rover North find was made by state- appealed her February 1 ruling allowing work
owned Equinor and its partners DNO, Welles- to go ahead.
ley Petroleum and Petoro at production licence Gleason’s latest decision declared that a “brief
(PL) 923, the Norwegian Petroleum Directo- and limited” injunction to prevent the work was
rate (NPD) said on February 5. Equinor said warranted. ™

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