Page 15 - MEOG Week 16 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global The group expect to launch the project in the
(NRG), in which the reader is invited to join mid-2020s, with its annual CO2 storage capabil-
our team of international editors, who provide a ity reaching 5mn tonnes per year (tpy) by the end
snapshot of some of the key issues affecting their of the decade.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline FSUOGM: Russia overhauls refineries
link for each section the full text will be available Russia’s energy ministry has entered into invest-
as before. ment deals with 14 refineries worth RUB800bn
($10.5bn) for the construction of new processing
AfrOil: Nigeria adds tax, royalty cuts to PIB units.
Nigeria’s government has reportedly agreed to The investments will be spent building 30
revise provisions of the Petroleum Industry Bill units, the commissioning of which will lead to a
(PIB), the oil and gas law now under discussion growth in Russian Euro-5 standard gasoline sup-
in the National Assembly. ply by over 3.6mn tonnes per year, and Euro-5
Sources closely involved with the legislation standard diesel by 25mn tpy.
told Reuters last week that Abuja had acceded
to requests from international oil and gas com- GLNG: NextDecade advances clean plans
panies (IOCs) for reductions in royalty and tax It has been another busy week for US-based
rates. LNG developer NextDecade, which is trying to
position its proposed Rio Grande liquefaction
AsianOil: Exxon starts up GBJV project at Texas’ Port of Brownsville as one of
US super-major ExxonMobil has started pro- the most environmentally friendly facilities of
ducing natural gas from a new project offshore its kind.
eastern Australia. The company has announced two sepa-
ExxonMobil’s local unit, Esso Australia, said rate partnerships in recent days that are geared
on April 20 the Gippsland Basin Joint Venture towards bolstering Rio Grande LNG’s green
(GBJV) – a 50:50 venture including BHP Billiton credentials.
– had commissioned the West Barracouta pro-
ject off the coast of Victoria. LatAmOil: Natixis to end Ecuador funding
France’s Natixis is set to join the ranks of finan-
DMEA: No-go for Tema and Egypt goes green cial institutions that have stopped supporting
Environmental concerns were at the heart of trade deals involving Ecuadorean crude oil.
the downstream headlines in MEA this week The French bank informed Reuters last week
with Ghana’s Environmental Protection Agency that it intended to stop financing trade in Ecua-
(EPA) saying that a proposed new refinery is dorean oil by April 2022.
unlikely to be given a permit, while Egypt is
planning to establish a bioethanol plant. NorthAmOil: Permian makes headlines
Various developments have emerged from the
EurOil: UK CCS plans take shape prolific Permian Basin in recent days, illustrating
Clean energy developer Storegga has brought on the region’s ongoing dominance of the US oil and
board Royal Dutch Shell and Harbour Energy as gas industry. Most notably, BP was reported to be
equal-equity partners at its Acorn carbon, cap- planning to phase out routine flaring of associ-
ture and storage (CCS) project in Aberdeenshire. ated natural gas in the basin by 2025.™

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