Page 18 - AfrOil Week 32 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil
NewsBase Roundup Global (NRG)
NRG
Welcome to NewsBase’s Roundup Global (NRG), in which the reader is invited to join our team of international editors, who provide a snapshot of some of the key issues affecting their regional beats. We hope you will like NRG’s new concise format, but by clicking on the headline link for each section the full text will be available as before.
AsianOil: Senex enjoys Surat reserves upgrade
Australian independent Senex Energy reported a significant upgrade to its natural gas reserves this week following an independent assessment by Netherland Sewell & Associates (NSAI). The company said on August 9 that its proven (1P) gas reserves in the Surat Basin had been lifted by 24% to 261 PJ (6.8bn cubic metres) as of June 30, while its proven and probable (2P) reserves had increased by 4% to 767 PJ (19.98 bcm).
DMEA: Money questions and firefighting
Questions are starting to be asked about a poten- tial financial crisis at the nearly-complete Dan- gote Refinery in Nigeria amid allegations that the developer is struggle to cope with servicing a $7bn credit, with debt rising to $8.4bn by 2025. Meanwhile, state media in Iran reported that a fire had broken out at a petrochemical storage tank on Kharg Island near the Islamic Republic’s largest oil export facility.
EurOil: Labour urges end date for oil and gas exploration
The head of the UK’s main opposition party has said the country must have a “hard-edged timetable” for ceasing oil and gas exploration. Addressing reporters in Glasgow on August 4, Labour leader Sir Keir Starmer said the policy would need to be implemented in a way that pro- tected North Sea jobs.
FSU OGM: Russia holds off on gasoline export ban
Russia is yet to declare a ban on gasoline exports, despite recent calls from the energy ministry to
do so in order to stem record-high wholesale prices for the fuel. The energy ministry con- firmed on July 30 it had filed a proposal for the government to start a procedure for the ban.
GLNG: More interest in SPAs and higher costs
US-based Sempra Energy warned in its sec- ond-quarter conference call that construction costs were rising for greenfield liquefaction projects. Meanwhile, fellow US LNG exporter Cheniere Energy highlighted the return of long- term LNG contracts in support of the construc- tion of new liquefaction capacity.
LatAmOil: BHP approves capex spending at Trion
Australia’s BHP has approved plans to spend more than $250mn on work at Trion, a deepwa- ter field located off the coast of the Mexican state of Tamaulipas. In a statement, BHP said that its board of directors had approved plans to allocate $258mn in capital expenditures at Trion. The funds will be used to move the project into the front-end engineering and design (FEED) phase, it reported.
MEOG: Big results and small qualifiers
Saudi Aramco this week announced its half-year results that were highlighted by a near quadru- pling of Q2 net income compared to the same period last year. Meanwhile, with its finances clearly in a healthier state, the company is press- ing forward efforts to increase its maximum sus- tainable capacity (MSC) for oil production by 1mn barrels per day (bpd), targeting a 550,000- bpd hike within four years.
NorthAmOil: ExxonMobil weighs net zero pledge
The US-based super-major ExxonMobil is reportedly considering making a pledge to pur- sue net zero greenhouse gas (GHG) emissions. This comes as the company finds itself under growing pressure from investors over its stance on decarbonisation. ™
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w w w . N E W S B A S E . c o m Week 32 11•August•2021