Page 16 - MEOG Week 05 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG IN this week’s NRG our editorial team focus on around 100,000 bpd more than it was initially
African LNG projects in Mozambique and Cam- projected to flow at peak rate.
eroon, as well as Equinor’s ongoing difficulties
Welcome to with TLNG in Tanzania. FSU OGM: Novatek makes hydrogen move
NewsBase’s Roundup In Europe Norway’s flagship Johan Sverdrup While hydrogen energy is still in its infancy,
Global (NRG), in which oil project is set to raise output again, to 535,000 the EU and many of its members have pub-
the reader is invited bpd, whereas South Korea’s KNOC is reported lished strategies for developing the fuel as a
to join our team of to be seeking to sell a number of its North Sea means of decarbonising certain industries.
international editors, assets. Meanwhile, Russian LNG exporter Russia, Europe’s biggest oil and gas supplier, has
who provide a snapshot Novatek and German Uniper are looking to looked at these developments, and the rising of
of some of the key develop a hydrogen supply chain. There have renewables across the continent, mostly with
issues affecting their been setbacks for LNG in the US, with NextDec- trepidation.
regional beats. We hope ade abandoning its proposed site in Texas, and
you will like NRG’s new in Australia, where Chevron’s Wheatstone LNG GLNG: Repairs and abandoned proposals
concise format, but by plant has been undergoing maintenance. By LNG-related setbacks have been reported in
clicking on the headline contrast, both Colombia’s Ecopetrol and Brazil’s both the US and Australia in recent days. In the
link for each section the Petrobras recorded successes in attracting new US, NextDecade announced that following an
full text will be available customers in 2020. Finally, it has been revealed evaluation of its proposed Galveston Bay LNG
as before. that US supermajors ExxonMobil and Chevron site in Texas, it had determined that the location
had opened serious discussions on a possible was not suitable for development of an LNG ter-
merger last year. minal. As a result, the company is withdrawing
its proposal to build the project. In Australia,
AfrOil: Spotlight on LNG meanwhile, Chevron said its Wheatstone LNG
In Cameroon, the national oil company (NOC) plant was operating below capacity while repairs
reports that the Hilli Episeyo floating LNG are carried out on an inlet separator.
(FLNG) unit has continued to expand its cus-
tomer base. According to Société Nationale des LatAmOil: Successes and setbacks
Hydrocarbures (SNH), five countries received Representatives of Colombia’s national oil com-
their first cargoes of Cameroonian LNG for the pany (NOC) Ecopetrol and its Brazilian coun-
first time in 2020: Kuwait, Pakistan, South Korea, terpart Petrobras said last week at a conference
Thailand and Turkey. hosted by Argus Media that they had managed
to raise crude export volumes in 2020, despite
AsianOil: KNOC to sell North Sea fields disruptions stemming from the coronavirus
State-owned Korea National Oil Corp. (KNOC) (COVID-19) pandemic.
is reportedly seeking to sell a number of its Alexandre Trevia Leite, the global head of
upstream assets in the North Sea as it strives to international trade at Petrobras, said that his
reduce its debt load. company had been able to weather the drop in
The company wants to sell subsidiary Dana demand from China, which is typically a major
Petroleum’s 10% stake in the Tolmount project in purchaser of Brazilian grades. “In 2020 alone,
UK waters as well as its entire Dutch and Danish we managed to sell and create 14 new custom-
operations, Reuters reported on January 29, cit- ers specifically for [production from] Búzios,”
ing a company sales document. he said.
DMEA: Trouble in Tanzania NorthAmOil: Megamergers and earnings
Among the key downstream developments Oil and gas giants ExxonMobil and Chevron
in North Africa and the Middle East this year, held preliminary talks to discuss a potential
Equinor has taken a $982mn write-down charge merger last year, it has emerged. The talks have
at its long-delayed Tanzania LNG (TLNG) pro- since been abandoned, according to two separate
ject. It did so after judging the venture to be reports by the Wall Street Journal and Reuters,
uncompetitive. but they are seen as illustrative of the challenges
Equinor has been trying to get TLNG off even the largest oil companies were facing fol-
the ground for years, but has been unable to lowing the onset of the coronavirus (COVID-19)
do because of regulatory delays and difficulties pandemic.
agreeing investment terms with the Tanzanian According to one of the sources cited by Reu-
government. ters, the talks were serious enough for legal doc-
uments involving certain aspects of the merger
EurOil: Equinor raises Sverdrup bar discussions to be drafted. The Wall Street Jour-
Output at Norway’s flagship Johan Sverdrup oil nal, meanwhile, cited sources as acknowledging
project is poised to reach 535,000 barrels per day the possibility of the talks being revived in the
by mid-year, according to operator Equinor, or future.™

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