Page 15 - EurOil Week 14 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

Welcome to NewsBase’s Roundup Global and maintenance of gas processing and off-
NRG (NRG), in which the reader is invited to join site facilities,” Gazprom said..
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: LNG Trade Booms
regional beats. We hope you will like NRG's new The global LNG trade is booming. Last week
concise format, but by clicking on the headline it was reported that deliveries of the super-
link for each section the full text will be available chilled fuel had grown the most in a year in
as before. March, as Asia and Europe refilled inventories
depleted over the winter, and more countries
AfrOil: Lukoil Rethinks Sangomar Bid bounced back from the hit their economies
Russia’s Lukoil has abandoned its attempt to took as a result of the coronavirus (COVID-19)
join RSSD, the joint venture set up to develop pandemic.
the Sangomar block offshore Senegal, through
acquiring Australia’s FAR Ltd. Its decision came LatAmOil: Colombia’s Progress On The
to light last week, when FAR said in a statement Fracking Front
that the Russian company had opted not to sub- Colombia has taken another step down the
mit a binding takeover offer ahead of a share- road towards development of its unconven-
holders meeting scheduled for April 15. tional hydrocarbon resources, via the govern-
ment’s decision to grant provisional approval
AsianOil: Australia’s “Gas-Led Recovery” to the Platero investigative project. Accord-
Faces Industry Pushback ing to Reuters, the South American coun-
The Australian upstream industry is once more try’s National Hydrocarbons Agency (ANH)
pushing back at aspects of the federal govern- announced its decision last week, saying it
ment’s plans for a “gas-led recovery”. expected to sign a contract with ExxonMobil
The Australian Petroleum Production and on April 8.
Exploration Association (APPEA) warned this
week that efforts to turn the Wallumbilla gas hub MEOG: OPEC+ Impact And Iran Talks
in Queensland into a US-style Henry Hub would Over the past week, the OPEC+ deal and the
“backfire”. return of the US to Iran nuclear talks have
grabbed headlines as high-level strategy comes
DMEA: Illegal Refinery Strike And Iraqi Pro- to the fore.
tests With OPEC and its partners announcing
Nigeria this week destroyed an illegal refinery in that a further 1.15mn barrels per day of crude
the Niger Delta, while protesters in Iraq blocked would be released to the market over the next
entry to a downstream unit, causing a fuel short- three months – as well as the 1mn bpd cut vol-
age in the south of the country. untarily by Saudi Arabia – there are signs that the
A strike carried out by Nigeria’s Security and Kingdom and its neighbour Kuwait will ramp up
Civil Defence Corps (NSCDC) saw the destruc- efforts at their shared Partitioned Neutral Zone
tion of an illegal oil refinery south-west of Warri, (PNZ). Production from the PNZ is running at
where state-owned NNPC’s 125,000 barrel per 270,000 bpd, with Saudi Energy Minister Prince
day (bpd) unit remains shut for maintenance. Abdulaziz bin Salman saying that “everything
The NSCDC has had difficulty in accessing and is going smoothly”, while reports have emerged
removing facilities owing to their remote loca- that work is being carried out to prepare the
tion, while those arrested during the raid are not Al-Khafji and Wafra fields to return to their pre-
believed to have been those responsible for the vious production levels – a combined roughly
construction of the refinery. 500,000 bpd.

FSU OGM: Gazprom Switches Contractor NorthAmOil: Another Mega-Deal For Pio-
At Ust-Luga LNG Scheme neer
Russia’s Gazprom and Rusgazdobycha now Pioneer Natural Resources announced last week
want to hire Germany’s Linde to work on that it had struck a deal to buy DoublePoint
a gas processing and LNG complex on the Energy for $6.4bn in cash and stock.
Baltic Sea, after cancelling a contract last The acquisition is Pioneer’s fourth major See the archive and
month issued to Russian firm Nipigaz. shale deal this year, coming less than three sign up to receive
Gazprom reported in late March that it months after the company closed its $4.5bn *NRG Editor’s Picks*
had agreed terms with Linde on an engi- takeover of Parsley Energy. It comes as Pioneer for free by email each
neering, procurement and site services – alongside other major shale producers – con- week here
(EPSS) contract for the Ust-Luga facilities. tinues to call for restraint in terms of drilling and
The letter of intent (LoI) signed by the pair production, with oil prices remaining fragile.
“outlines the main terms and conditions of However, the company is demonstrating that it
a prospective EPSS contract providing for sees no need to act with restraint as far as merg-
engineering services, equipment supplies ers and acquisitions (M&As) go.™

Week 14 08•April•2021 www. NEWSBASE .com P15