Page 18 - MEOG Week 07 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global Shell sees its oil output gradually diminish-
(NRG), in which the reader is invited to join ing by 1-2% each year, as a result of divestments
our team of international editors, who provide a and natural decline. It also intends to boost LNG
snapshot of some of the key issues affecting their exports by a further 7mn tonnes per year by
regional beats. We hope you will like NRG’s new 2050, from the current 33.3mn tpy.
concise format, but by clicking on the headline
link for each section the full text will be available FSU OGM: Rosneft endures tough 2020
as before. Russia’s state oil producer Rosneft has signed
an investment deal worth up to RUB46bn
AfrOil: Forward movement in Uganda ($617mn) annually with the country’s natural
In East Africa, Uganda’s government is turning resources ministry, covering incentives at the
its attention to plans for extracting and exporting large but mature Priobskoye oilfield in Western
crude oil from fields near Lake Albert. Siberia.
Robert Kasande, the permanent secretary of Output at the field peaked at 679,000 bpd in
the Ministry of Energy and Mineral Develop- 2009 and has been declining ever since.
ment, says he expects France’s Total and China
National Offshore Oil Corp. (CNOOC) to make GLNG: Corpus Christi Train 3 ready to en-
a final investment decision (FID) on the project ter service
by the middle of March. Cheniere Energy has asked the US Federal
Energy Regulatory Commission (FERC) for
AsianOil: Petronas starts up second FLNG permission to put the third train at the Cor-
facility pus Christi LNG export terminal in Texas into
Malaysia’s state-owned Petronas has started pro- service.
duction at its second floating liquefied natural The train has already been operating in test
gas (FLNG) facility, which is moored offshore mode for several months, and the commission-
Sabah State. The major said on February 15 that ing cargo was loaded in December. In its filing
PFLNG DUA had produced and liquefied its first last week, Cheniere asked the FERC to approve
gas from the deepwater Rotan field, which lies its request as soon as possible, and no later than
140 km off Kota Kinabalu, on February 6. March 12.

DMEA: Qatar bucks trend with $29bn LNG LatAmOil: Production and elections
expansion Production levels are on the rise in Argentina’s
LNG frontrunner Qatar has signed off on a Vaca Muerta shale basin, largely because devel-
$29bn expansion of its liquefaction capacity, at a opers are focusing more intently on unconven-
time when most other suppliers are holding back tional oil production. Emilio Apud, the country’s
on new investments. former energy secretary, has told Reuters that
State-owned Qatar Petroleum (QP) took a higher oil prices and a domestic gas price freeze
final investment decision (FID) on February 8 led upstream operators to make the switch.
on North Field East (NFE), which will expand
Qatar’s LNG production capacity from 77mn to NorthAmOil: Freezing US weather disrupts
110mn tonnes per year (tpy). Texas production, refining
Below-freezing weather is disrupting both
Euroil: Shell doubles down on zero-carbon upstream and downstream operations in the
drive US. The extreme cold is proving particularly
Royal Dutch Shell has announced a new strategy troublesome in states such as Texas, which are
that puts more emphasis on reaching its net-zero unaccustomed to such weather.
2050 target. But while the major plans to wind Oil production in the Permian Basin, which
down its oil business steadily over the coming straddles Texas and New Mexico, was reported
years and decades, it is targeting a 20% growth to have fallen by around 1mn barrels per day
in LNG production by 2025. (bpd) on February 15 as a result of the freeze.™

P18 www. NEWSBASE .com Week 07 17•February•2021