Page 14 - NorthAmOil Week 16 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global units. The investments will be spent building 30
(NRG), in which the reader is invited to join units, the commissioning of which will lead to a
our team of international editors, who provide a growth in Russian Euro-5 standard gasoline sup-
snapshot of some of the key issues affecting their ply by over 3.6mn tonnes per year, and Euro-5
regional beats. We hope you will like NRG’s new standard diesel by 25mn tpy.
concise format, but by clicking on the headline link
for each section the full text will be available as GLNG: NextDecade advances clean LNG
before. plans
It has been another busy week for US-based LNG
AfrOil: Nigeria adds tax, royalty cuts to PIB developer NextDecade, which is trying to position
Nigeria’s government has reportedly agreed to its proposed Rio Grande liquefaction project at
revise provisions of the Petroleum Industry Bill Texas’ Port of Brownsville as one of the most envi-
(PIB), the oil and gas law now under discus- ronmentally friendly facilities of its kind. The com-
sion in the National Assembly. Sources closely pany has announced two separate partnerships in
involved with the legislation told Reuters last recent days that are geared towards bolstering Rio
week that Abuja had acceded to requests from Grande LNG’s green credentials.
international oil and gas companies (IOCs) for
reductions in royalty and tax rates. LatAmOil: Natixis to phase out Ecuadorean
oil finance
AsianOil: ExxonMobil starts up new Aus- France’s Natixis is set to join the ranks of finan-
tralian gas field cial institutions that have stopped supporting
US super-major ExxonMobil has started pro- trade deals involving Ecuadorean crude oil. The
ducing natural gas from a new project offshore French bank informed Reuters last week that it
eastern Australia. ExxonMobil’s local unit, Esso intended to stop financing trade in Ecuadorean
Australia, said on April 20 the Gippsland Basin oil by April 2022.
Joint Venture (GBJV) – a 50:50 venture includ-
ing BHP Billiton – had commissioned the West MEOG: Iran’s quake and Iraq’s Qurna-1
Barracouta project off the coast of Victoria. A major earthquake disrupted oil operations
in southern Iran this week, while across the
DMEA: No permit for Tema and Egypt goes border, Iraq is seeking a new lead developer for
green West Qurna-1 as it shops ExxonMobil’s stake.
Environmental concerns were at the heart of An earthquake in southern Iran caused damage
the downstream headlines in MEA this week to an important oil facility over the weekend,
with Ghana’s Environmental Protection Agency with state TV saying that production had been
(EPA) saying that a proposed new refinery is disrupted.
unlikely to be given a permit, while Egypt is Iraq’s Ministry of Oil (MoO) said over the
planning to establish a bioethanol plant. weekend that it is holding discussions with US
companies over the acquisition of a 32.7% stake
Euroil: UK CCS plans take shape in the West Qurna-1 (WQ-1) oilfield currently
Clean energy developer Storegga has brought held by super-major ExxonMobil.
on board Royal Dutch Shell and Harbour
Energy as equal-equity partners at its Acorn NorthAmOil: Permian Basin developments
carbon, capture and storage (CCS) project in make headlines
Aberdeenshire. The group expect to launch the Various developments have emerged from the
project in the mid-2020s, with its annual CO2 prolific Permian Basin in recent days, illustrating
storage capability reaching 5mn tonnes per the region’s ongoing dominance of the US oil and
year (tpy) by the end of the decade. gas industry. Most notably, BP was reported to be
planning to phase out routine flaring of associ-
FSUOGM: Russia overhauls refineries ated natural gas in the basin by 2025.
Russia’s energy ministry has entered into invest-
ment deals with 14 refineries worth RUB800bn See the archive and sign up to receive NRG Editor’s
($10.5bn) for the construction of new processing Picks for free by email each week here.™

P14 www. NEWSBASE .com Week 16 22•April•2021