Page 20 - AsianOil Week 20 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global needed to declare plans to raise prices by 1% or
(NRG), in which the reader is invited to join more to the state consumer market watchdog
our team of international editors, who provide a some 20 days in advance.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG's new GLNG: Woodside to exit Kitimat LNG
concise format, but by clicking on the headline AUSTRALIA’S Woodside Energy announced
link for each section the full text will be available this week that it would exit its 50% non-operated
as before. interest in the proposed Kitimat LNG project on
Canada’s West Coast. The company will either
AfrOil: Nedbank to halt fossil fuel funding sell or wind up and restore the assets, leases and
SOUTH Africa’s Nedbank has decided to agreements covering both the LNG terminal’s
phase out funding for fossil fuel projects as site in Bish Cove, British Columbia, and the 480-
part of a wider effort to reduce its net carbon km Pacific Trail pipeline route.
emissions to zero by 2045. The group will
work towards this goal by halting funding to LatAmOil: Peru LNG halts production
organisations involved in thermal coal mining THE Peru LNG consortium has suspended
by 2025 and direct funding for crude oil and operations at its natural gas liquefaction plant in
natural gas exploration. Pampa Melchorita, citing an issue with one of its
compressors. Jeanne Phillips, a senior vice-pres-
DMEA: UAE’s H2 plant, Jordan’s imports ident at Hunt Oil, the leader of Peru LNG, con-
THIS week’s DMEA looks at the launch of the firmed the shutdown last week and indicated
Middle East’s first green hydrogen facility and that the consortium had taken the plant offline
Jordan’s tender for Iraqi crude shipments. Emi- on or about May 7.
rati Energy and Infrastructure Minister Suhail
Al Mazrouei announced that the UAE will this MEOG: Iran upbeat as export route opens
week commission its first green hydrogen plant IT has been a busy week for Iran, which is work-
to produce clean transportation fuels for use ing to ramp up oil output as it eyes a lifting of
during Dubai Expo 2020 due to take place later sanctions and increased exports. Talks between
this year. Meanwhile, Jordan’s Ministry of Energy world powers are yet to overcome the remaining
and Mineral Resources (MEMR) launched a ten- obstacles to resume the 2015 Joint Comprehen-
der for the transport of 10,000 bpd of Iraqi crude sive Plan of Action (JCPOA), but Iran appears to
by road from Kirkuk to Zarqa. be working on the assumption that these efforts
will bear fruit.
Euroil: Neptune stung by outages
NORTHWEST European producer Neptune NorthAmOil: Gulf Coast LNG projects progress
Energy suffered a 22% year-on-year decline in THE developers of two new LNG export pro-
oil and gas output in the first quarter as a result of jects on the US Gulf Coast have said over the past
outages across its portfolio. The company’s sup- week that they are making progress towards final
ply averaged 125,700 barrels of oil equivalent per investment decisions (FIDs) that are scheduled
day in the three-month period, versus 162,100 for later this year. At the Citi Global Energy &
boepd a year earlier. Utilities Virtual Conference last week, Telluri-
an’s executive chairman, Charif Souki, said the
FSU OGM: Ukraine imposes fuel price controls company was now “just weeks” from finishing
UKRAINE’S government has introduced con- the commercialisation of Phase One at its Drift-
trols on retail gasoline and diesel prices in an wood LNG terminal in Louisiana. Separately,
attempt to stem rising inflation, in a move that NextDecade said in a new investor presentation
has prompted harsh criticism from the industry. on its website that it was progressing commer-
In an announcement on May 12, the govern- cial negotiations with “multiple counterparties”
ment said it had added oil products to the list of to enable an FID in 2021 on two trains at Rio
socially important goods, and that retailers now Grande LNG.™

P20 www. NEWSBASE .com Week 20 20•May•2021