Page 17 - AfrOil Week 18 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global heads of agreement (HoA) that provides for
(NRG), in which the reader is invited to join Total to buy a 10% stake in Arctic Transship-
our team of international editors, who provide a ment, a wholly owned subsidiary of Novatek.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new GLNG: AGL formally scraps Crib Point
concise format, but by clicking on the headline LNG import project
link for each section the full text will be available Australia’s AGL Energy said this week that it was
as before. stopping development of its proposed Crib Point
LNG import project. The move is not a surpris-
AsianOil: PetroChina posts best quarterly ing one, as it comes around a month after the
profit in seven years State of Victoria rejected the plan on concerns
State-run PetroChina has posted a first-quarter over its environmental impact.
net profit of CNY27.72mn ($4.28bn), a return to
the black after the previous year’s CNY16.23bn
($2.51bn) loss. China’s largest oil and gas pro- LatAmOil: Guyana to adopt new model for
ducer said on April 29 that the result was its best awarding oil contracts
quarterly net profit in the past seven years. Irfaan Ali, the president of Guyana, has
announced plans to introduce a new model for
assigning oil blocks to investors. He explained
DMEA: Northern Gulf refinery progress that his administration was moving away from
Both Iran and Iraq announced progress on stra- direct negotiations with international oil compa-
tegic refining projects this week, with the former nies (IOCs) and would instead conduct licensing
closing in on completion of the gas refinery ded- rounds.
icated to Phase 14 of the supergiant South Pars
field and the latter expecting the Karbala refinery
to be commissioned next year. MEOG: Basra in the crosshairs
Iraq’s Oil Minister revealed this week that state-
owned Basra Oil Co. (BOC) is considering pick-
EurOil: Spirit, Neptune to partner on ing up the 32.7% stake ExxonMobil is currently
Pegasus West looking to sell in the West Qurna-1 oilfield.
Spirit Energy and Neptune Energy have agreed Meanwhile, Basra Gas Co. (BGC) is also in line
to partner on the development of the Pegasus for a major project boost with the Ministry of Oil
West discovery in the UK’s Southern North Sea. (MoO) announcing plans to invest $3bn in the
This marks the end of a dispute between the company.
two companies over how the project should be
developed.
NorthAmOil: Williston Basin assets set to
change hands
FSU OGM: Total eyes stake in LNG Oasis Petroleum announced this week that it had
transshipment complexes agreed to acquire Diamondback Energy’s Wil-
Novatek, Russia’s largest privately owned pro- liston Basin assets for $745mn. The news came
ducer of natural gas, is looking to sell a minority days after Norway’s Equinor said it had com-
stake in its LNG transshipment unit to France’s pleted its own sale of Williston Basin assets for
Total. Last week, the two companies signed a $900mn. ™

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Week 18 05•May•2021 www. NEWSBASE .com P17