Page 18 - DMEA Week 32 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA
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 enjoy NRG’s new concise for- mat, but by clicking on the headline link for each section the full text will be available as before.
AfrOil: NOCK under fire from auditors
The National Oil Corporation of Kenya (NOCK) is under fire from the government for its shaky finances, with the Office of the Auditor-General (OAG) expressing particular concern about the company’s failure to pay loans from KCB Bank Kenya.
The OAG noted in a report on NOCK’s performance in Fiscal Year 2019/2020 that the state-owned firm had been borrowing far more money than it was capable of repaying.
Asian Oil: Senex enjoys Surat 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).
EurOil: Labour calls for end for exploration
The head of the UK’s main opposition party has said the country must have a “hard-edged time- table” 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.
FSUOGM: Russia holds off on pipeline 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 confirmed on July 30 it
had filed a proposal for the government to start a procedure for the ban.
GLNG: More interest in SPAs, 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 Trion capex
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 pressing forward efforts to increase its maximum sustainable capacity (MSC) for oil production by 1mn bar- rels per day (bpd), targeting a 550,000-bpd hike within four years.
NorthAmOil: Exxon weighs net zero pledge
Super-major ExxonMobil is reportedly consid- ering making a pledge to pursue net zero green- house 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 12•August•2021