Page 14 - FSUOGM Week 14 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

Welcome to NewsBase’s Roundup Global regasification capacity on a long-term basis.
NRG (NRG), in which the reader is invited to join
our team of international editors, who provide a GLNG: LNG Trade Booms
snapshot of some of the key issues affecting their The global LNG trade is booming. Last week
regional beats. We hope you will like NRG's new it was reported that deliveries of the super-
concise format, but by clicking on the headline chilled fuel had grown the most in a year in
link for each section the full text will be available March, as Asia and Europe refilled inventories
as before. depleted over the winter, and more countries
bounced back from the hit their economies
AfrOil: Lukoil Rethinks Sangomar Bid took as a result of the coronavirus (COVID-19)
Russia’s Lukoil has abandoned its attempt to pandemic.
join RSSD, the joint venture set up to develop
the Sangomar block offshore Senegal, through LatAmOil: Colombia’s Progress On The
acquiring Australia’s FAR Ltd. Its decision came Fracking Front
to light last week, when FAR said in a statement Colombia has taken another step down the
that the Russian company had opted not to sub- road towards development of its unconven-
mit a binding takeover offer ahead of a share- tional hydrocarbon resources, via the govern-
holders meeting scheduled for April 15. ment’s decision to grant provisional approval
to the Platero investigative project. Accord-
AsianOil: Australia’s “Gas-Led Recovery” ing to Reuters, the South American coun-
Faces Industry Pushback try’s National Hydrocarbons Agency (ANH)
The Australian upstream industry is once more announced its decision last week, saying it
pushing back at aspects of the federal govern- expected to sign a contract with ExxonMobil
ment’s plans for a “gas-led recovery”. on April 8.
The Australian Petroleum Production and
Exploration Association (APPEA) warned this MEOG: OPEC+ Impact And Iran Talks
week that efforts to turn the Wallumbilla gas hub Over the past week, the OPEC+ deal and the
in Queensland into a US-style Henry Hub would return of the US to Iran nuclear talks have
“backfire”. grabbed headlines as high-level strategy comes
to the fore.
DMEA: Illegal Refinery Strike And Iraqi Pro- With OPEC and its partners announcing
tests that a further 1.15mn barrels per day of crude
Nigeria this week destroyed an illegal refinery in would be released to the market over the next
the Niger Delta, while protesters in Iraq blocked three months – as well as the 1mn bpd cut vol-
entry to a downstream unit, causing a fuel short- untarily by Saudi Arabia – there are signs that the
age in the south of the country. Kingdom and its neighbour Kuwait will ramp up
A strike carried out by Nigeria’s Security and efforts at their shared Partitioned Neutral Zone
Civil Defence Corps (NSCDC) saw the destruc- (PNZ). Production from the PNZ is running at
tion of an illegal oil refinery south-west of Warri, 270,000 bpd, with Saudi Energy Minister Prince
where state-owned NNPC’s 125,000 barrel per Abdulaziz bin Salman saying that “everything
day (bpd) unit remains shut for maintenance. is going smoothly”, while reports have emerged
The NSCDC has had difficulty in accessing and that work is being carried out to prepare the
removing facilities owing to their remote loca- Al-Khafji and Wafra fields to return to their pre-
tion, while those arrested during the raid are not vious production levels – a combined roughly
believed to have been those responsible for the 500,000 bpd.
construction of the refinery.
NorthAmOil: Another Mega-Deal For Pio-
Euroil: North Macedonia Eyes Role In neer
Greek LNG Pioneer Natural Resources announced last week
Greek LNG developer Gastrade has tapped that it had struck a deal to buy DoublePoint
another investor for its planned import Energy for $6.4bn in cash and stock.
facility in Alexandroupolis. The acquisition is Pioneer’s fourth major
The company said it had signed a prelim- shale deal this year, coming less than three See the archive and
inary agreement on transferring a stake in months after the company closed its $4.5bn sign up to receive
itself to North Macedonian gas distribution takeover of Parsley Energy. It comes as Pioneer *NRG Editor’s Picks*
operator National Energy Resources Skopje – alongside other major shale producers – con- for free by email each
(NER AD). It also reached a second deal tinues to call for restraint in terms of drilling and week here
with electricity generation firm AD Power production, with oil prices remaining fragile.
Plants of Northern Macedonia (AD ESM), However, the company is demonstrating that it
which is interested in booking some of the sees no need to act with restraint as far as merg-
terminal’s 5.5bn cubic metres per year of ers and acquisitions (M&As) go.™

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