Page 16 - DMEA Week 22 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global began was also a major factor.
(NRG), in which the reader is invited to join
our team of international editors, who provide a GLNG: Venture Global unveils CCS plan
snapshot of some of the key issues affecting their US-based Venture Global LNG announced last
regional beats. week that it would develop carbon capture and
We hope you will like NRG’s new concise for- storage (CCS) capacity to serve two of its LNG
mat, but by clicking on the headline link for each export projects on Louisiana’s Gulf Coast.
section the full text will be available as before. Venture Global said that the CCS pro-
ject still needed regulatory approvals but was
Afroil: Tlou to develop H2 strategy for GTP shovel-ready.
Australia’s Tlou Energy hopes that its Lesedi gas-
to-power (GTP) project in Botswana will serve LatAmOil: Yellowtail optimism
as a springboard for blue and green hydrogen ExxonMobil and Hess both expect to move
production. The company intends to develop forward quickly with preparations for oil pro-
a “hydrogen strategy” to complement the GTP duction at Yellowtail, the fourth section of the
scheme and has already secured some of the Stabroek block offshore Guyana slated for
assets and administrative permits it will need to development.
begin turning out hydrogen. John Hess, the CEO of the US-based inde-
pendent Hess, noted last week that Guyana’s
AsianOil: ConocoPhillips to exit Corridor government was on track to finish evaluating
US super-major ConocoPhillips is reportedly ExxonMobil’s request for permission to develop
gearing up to walk away from the Corridor nat- Yellowtail before the end of the year.
ural gas block onshore Indonesia. The deputy
head of upstream regulator SKK Migas, Fatar MEOG: Azadegan and Qurna-2 in focus
Yani Abdurrahman, revealed last week that the This week’s MEOG considers projects to increase
company had told the agency that it wanted to production from two of the world’s largest oil-
relinquish its stake in the licence. fields: Azadegan and West Qurna-2.
Iran’s NIOC signed memoranda of under-
EurOil: OIES casts doubt on SGC expansion standing (MoUs) with Persia Oil & Gas Indus-
A report published by the Oxford Institute try Development Co. (POGIDC) for the
for Energy Studies (OIES) has cast doubt on northern sector of the 32bn barrel Azadegan,
whether an expansion at the Southern Gas Cor- with Petropars and PetroIran Development
ridor (SGC) gas pipeline network will go ahead, Co. (PEDCO) for the central sector, and with
pointing to unfavourable market and political independents Pasargad Energy Development
conditions. Co. (PEDC) and Dana Energy for the southern
Shah Deniz’s first phase has supplied 6.6bn sector.
cubic metres per year of gas to Turkey for many
years, but the contract with Turkish firm Botas NorthAmOil: Super-majors under pressure
expired on April 17, bringing supplies to a stand- US super-majors Chevron and ExxonMo-
still. Botas instead wants to import more spot- bil both suffered defeats at the hands of their
priced LNG to save on cost. shareholders last week. In ExxonMobil’s case,
a relatively small activist investor hedge fund
FSUOGM: Lukoil beats expectations in Q1 succeeded in having at least two of its nominees
Russia’s Lukoil swung to a net profit of elected to the company’s board.
RUB157bn ($2.14bn) in the first quarter, ver- Meanwhile, Chevron shareholders voted
sus a RUB46bn loss a year earlier, on the back nearly 61% in favour of a proposal to force the
of higher oil prices, increased gas supply and a super-major to cut its Scope 3 greenhouse gas
recovery in fuel demand. Significant devalu- (GHG) emissions – or those generated by cus-
ation of the Russian ruble since the pandemic tomers using its products.™

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P16 www. NEWSBASE .com Week 22 03•June•2021