Page 18 - MEOG Week 12 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global firm Hess for $150mn.
(NRG), in which the reader is invited to join The move comes months after Ineos closed its
our team of international editors, who provide a $5bn takeover of BP’s petrochemicals division.
snapshot of some of the key issues affecting their Ineos also controls upstream assets off Denmark,
regional beats. We hope you will like NRG’s new Norway and the UK.
concise format, but by clicking on the headline
link for each section the full text will be available FSU OGM: Gazprom share sale mulled
as before. Russia continues to weigh up options for funding
a $25bn, 10-year gasification programme, with
AfrOil: Pros and cons of PIB the government reportedly suggesting the issue
Obo Idornigie, vice-president of sub-Saharan of new shares in Gazprom as a solution.
African research for Welligence Energy Ana- The shares would be bought by the govern-
lytics, recently discussed the strengths and ment, according to a state report seen by Vedo-
weaknesses of Nigeria’s Petroleum Industry Bill mosti this week.
(PIB) with AfrOil. He praised the legislation for
establishing a stronger foundation for the devel- GLNG: Russian uptick, US project scrapped
opment of Nigeria’s abundant reserves of natural Russia approved a long-term LNG strategy this
and associated gas, as well as crude oil. week, targeting up to a three-fold increase in
production to 140mn tonnes per year (tpy) by
AsianOil: Velesto wins Petronas contracts 2035. Several Russian LNG projects are in vari-
Malaysia’s state-owned Petronas has awarded ous stages development, mainly led by Novatek
drilling contracts for up to six shallow-water and Gazprom.
wells to local service provider Velesto Energy.
Velesto said in a stock exchange filing on LatAmOil: Surinamese disappointment
March 19 that wholly owned subsidiary Velesto Tullow Oil (UK/Ireland) and its partners in
Drilling had won two contracts worth more than Block 47 offshore Suriname have finished drill-
$20mn for the NAGA 2 and NAGA 5 jack-up ing the Goliathberg Voltzberg North-1 (GVN-1)
rigs. exploration well without making a commercial
discovery. In a statement, Tullow said the well
DMEA: Jazan launch and Nigerian scrutiny had encountered a good-quality reservoir but
Two refineries that have previously faced com- registered only minor shows of crude oil.
plications made the news this week for very dif-
ferent reasons. NorthAmOil: Spotlight on decarbonisation
In Saudi Arabia, state oil firm Aramco Two leading Canadian oil sands producers –
announced that operations had begun at its Suncor Energy and Imperial Oil – are in the
Jazan refinery on the Red Sea coast near the bor- news for reasons related to decarbonisation.
der with Yemen. Meanwhile in Nigeria, follow- In Suncor’s case, the company announced
ing the approval of $1.5bn of state funds to be last week that it was investing in Svante, a carbon
provided for the rehabilitation of the Port Har- capture technology company, as it seeks ways to
court refinery, politicians have cast aspersions offset greenhouse gas (GHG) emissions from its
on the move. oil and gas operations.
Imperial, for its part, has urged investors to
Euroil: Ineos picks up Danish assets vote against a shareholder proposal to set a target
The UK’s Ineos announced on March 18 it had of net zero emissions on a company-wide basis
reached a deal to buy the Danish arm of US oil by 2050.™

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P18 www. NEWSBASE .com Week 12 24•March•2021