Page 17 - NorthAmOil Week 17 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global Ocean to Norway’s SpotOn Energy, under an
(NRG), in which the reader is invited to join agreement reached in December.
our team of international editors, who provide a
snapshot of some of the key issues affecting their FSUOGM: More Achimov gas comes on
regional beats. We hope you will like NRG’s new stream
concise format, but by clicking on the headline link Russia’s Gazprom and Germany’s Wintershall
for each section the full text will be available as Dea have kicked off gas production at Block 5A
before. of the Achimov layer of the giant Urengoy gas
field in Western Siberia. Both gas and condensate
AfrOil: Total declares force majeure on Mo- are now flowing from the site, which is undergo-
zambique LNG ing commissioning, Gazprom announced on
France’s Total has issued a declaration of force April 21.
majeure on the Mozambique LNG project, citing
unfavourable security conditions in Cabo Del- GLNG: Philippines approves LNG-to-power
gado, Mozambique’s northernmost province. In project
a statement published earlier this week, the com- The government of the Philippines has approved
pany confirmed that it had withdrawn all project Vires Energy’s proposed LNG-to-power project.
personnel from the construction site where it is The Philippine Department of Energy (DoE)
building an onshore complex and LNG plant. issued a “notice to proceed” (NTP) on April 22,
which it said is the first step for a company seeking
AsianOil: Eni starts up Indonesian deepwa- to build an LNG terminal or other downstream
ter gas field gas project.
Italian major Eni has started producing natural
gas from its deepwater Merakes project in the LatAmOil: YPFB to see revenues rise this
East Sepinggan block offshore Indonesia. The year
company said on April 26 that the project had a Wilson Zelaya, the CEO of Bolivia’s national
guaranteed production capacity of 450mn cubic oil company (NOC) YPFB, has said that con-
feet (12.74mn cubic metres) per day thanks to its ditions are improving in his country’s hydro-
five subsea wells. carbon sector. Speaking during the 2021 Initial
Public Accountability Hearing last week, Zelaya
DMEA: NNPC’s woes and Durban’s termi- reported that YPFB was on track to see crude oil
nal plan and natural gas revenues rise above $1.9bn this
In Nigeria this week, NNPC released data show- year, up by 35% on the 2020 figure.
ing that its refineries have been shut in for 19
consecutive months, while South Africa’s old- MEOG: Aramco assets and Iraqi talks
est refinery is to be converted into a fuel import With Saudi Aramco having completed its
terminal. $12.4bn oil pipeline lease deal, reports have
During the period of July 2019 until January emerged that it will look to replicate the strat-
2021, Nigeria’s four state-owned facilities have egy on other assets, while in Iraq, the Ministry of
had a utilisation rate of 0%, costing NNPC more Oil (MoO) is racing to complete a deal to replace
than $460mn. ExxonMobil in the West Qurna-1 consortium
In South Africa, the 120,000 bpd Durban while trying to reach a contractual agreement
oil refinery is to be converted into an import with Total on its mega deal.
terminal following years of losses and a fire in
December. NorthAmOil: Schlumberger predicts quick-
er recovery than before
EurOil: third Barryroe farm-out falls Oilfield services giant Schlumberger has revised
through its projections for the pace of the oil and gas
Irish juniors Providence Resources and Lans- industry’s recovery. Schlumberger’s CEO, Oliv-
downe Oil & Gas have said they will proceed ier Le Peuch, said on the company’s earnings call
with the development of Ireland’s largest oil last week that oil demand would reach pre-pan-
discovery on their own, after reporting that demic levels by the end of 2022.
their third farm-out deal had collapsed. The
pair had hoped to farm out a 50% interest in See the archive and sign up to receive NRG Editor’s
the Barryroe oil and gas field in the Atlantic Picks for free by email each week here.™

Week 17 29•April•2021 www. NEWSBASE .com P17