Page 14 - NorthAmOil Week 08 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global FSU OGM: Lukoil eyes Caspian opportuni-
(NRG), in which the reader is invited to join ties
our team of international editors, who provide a Russian oil firm Lukoil has expressed interest in
snapshot of some of the key issues affecting their developing the Dostluk oil and gas field in the
regional beats. We hope you will like NRG’s new Caspian Sea, Turkmen state media has reported.
concise format, but by clicking on the headline link For years Dostluk, formerly known as Kapaz by
for each section the full text will be available as Azerbaijan and Serdar by Turkmenistan, was con-
before. tested by the two Caspian countries. But the pair
signed a memorandum of understanding (MoU)
AfrOil: Angolan MPs vote on downstream, in late January on joint exploration of the deposit.
exploration projects
The government of Angola has announced plans GLNG: Pair of Qatari deals
to reduce the country’s dependence on imported Two separate LNG-related deals have been
petroleum products. To this end, legislators have announced this week, involving Qatargas and
authorised President João Lourenço to offer its parent company, Qatar Petroleum (QP).
special incentives for the construction of the Italy’s Saipem said it had received a contract
Cabinda refinery. worth around $1.7bn from Qatargas for engi-
neering, procurement, construction and instal-
AsianOil: CNOOC Ltd makes Bohai Bay lation (EPCI) of various offshore facilities at
discovery Qatar’s North Field.
State-run Chinese offshore developer CNOOC
Ltd announced on February 22 that it had made LatAmOil: Mexican government offers sup-
a significant shallow-water oil and gas discovery port to Pemex
in the Bohai Bay. Mexico’s government is offering additional
The discovery in the Bozhong 13-2 structure, fiscal support to Pemex, the national oil com-
which CNOOC Ltd described as “large-sized” pany (NOC), in the form of a stimulus package
without providing a resource estimate, is located that includes around $3.5bn in tax breaks and a
in the bay’s south-western Ring of Bozhong Sag, capital boost of $1.3-1.6bn. Its plan complements
in around 23 metres of water. a set of earlier concessions designed to reduce
Pemex’s profit-sharing duties in 2020 and 2021.
DMEA: Downstream dealing picks up
Having spent years talking about its plans to MEOG: Price rally sees improved sentiment
overhaul the country’s four state-owned refin- The ongoing oil price rebound has seen
eries, Nigeria’s NNPC last week finally secured sentiment throughout the Middle East
funding for a major rehabilitation project focus- improve ahead of the upcoming OPEC+
ing on the largest unit. meeting, which is rumoured to see a change
The Port Harcourt maintenance project is of tack from Saudi Arabia as the Kingdom
now expected to kick off during Q1 and will look considers reversing its decision to cut output.
to return the 210,000 barrel per day (bpd) refin-
ery to 90% capacity. NorthAmOil: Profits, growth opportunities
for TC Energy
EurOil: TechnipFMC does the splits Canada’s TC Energy has reported a net profit
France’s TechnipFMC has wrapped up the attributable to common shares of CAD1.124bn
separation of its engineering and construction ($890mn) for the fourth quarter of 2020, up
operations from its services and technology from CAD1.108bn ($878mn) year on year.
activities. While the company expressed its disappoint-
TechnipFMC announced the split in ment with US President Joe Biden’s cancellation
mid-2019, two years after the compa- of the permit of the Keystone XL pipeline pro-
ny’s creation through the merger between ject, TC Energy’s CEO, François Poirier, noted
France-based Technip and US-based FMC that it had a “large and diversified” asset base.
Technologies. But it put the process on hold
after the coronavirus (COVID-19) pan- See the archive and sign up to receive NRG Editor’s
demic struck. Picks for free by email each week here.™

P14 www. NEWSBASE .com Week 08 25•February•2021