Page 8 - EurOil Week 06 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global GLNG: Imports up for PGNiG, FID for Qatar
(NRG), in which the reader is invited to join Poland’s PGNiG said last week that its LNG
our team of international editors, who provide a imports rose 10% in 2020 to reach 3.76bn cubic
snapshot of some of the key issues affecting their metres. This comes as the country continues
regional beats. We hope you will like NRG's new to buy natural gas from Russia, but is trying
concise format, but by clicking on the headline to diversify its sources of supply ahead of the
link for each section the full text will be available expiry of a contract with Russia’s Gazprom in
as before. 2022.
“For several years we have been consistently
AfrOil: Nigeria vs. IOCs limiting the import of natural gas from Russia,”
Nigeria’s national oil company (NOC) has begun said the president of PGNiG’s board, Paweł
re-negotiating the terms of its commercial con- Majewski. “On the other hand, the possibilities
tracts with a number of international majors. of further reducing supplies from the eastern
Mele Kyari, the group managing director of direction are limited. We are bound by the ‘take
Nigerian National Petroleum Corp. (NNPC), or pay’ formula included in the Yamal contract
said last week that the NOC had taken this step binding PGNiG until the end of 2022,” he added.
in order to ensure that oil and gas projects would
continue to attract investment. He declined to LatAmOil: AMLO’s policy considerations
say exactly which terms were under discussion, Mexico’s presidential administration suffered
but he did state that NNPC was offering inter- a setback last week, when the Supreme Court
national oil companies (IOCs) a choice between rejected proposed regulatory changes put for-
negotiating revisions now or accepting the terms ward by the Secretariat of Energy (SENER).
that will be applied once the Petroleum Industry The court ruled against SENER on the
Bill (PIB) is passed later this year. grounds that its plans for offering preferential
treatment to CFE, the national electricity pro-
AsianOil: CNOOC Ltd eyes output boost vider, would inhibit competition and compli-
State-run Chinese offshore developer CNOOC cate efforts to reduce emissions. This decision
Ltd has announced plans to boost its oil and gas has implications for the oil and gas sector, as it
production by 3-5% this year as it seeks to bring may lead President Andres Manuel Lopez Obra-
on stream several new fields both at home and dor to amend Mexico’s constitution in order to
abroad. ensure that state-run entities such as CFE and
The listed arm of state-owned China National the national oil company (NOC) Pemex play the
Offshore Oil Corp. (CNOOC) aims to produce leading role in the energy industry.
545-555mn barrels of oil equivalent in 2021, up
from a projected 528mn boe in 2020, the com- MEOG: Updates abound
pany said in a February 4 filing to the Hong Kong Iran, Oman and Kuwait grabbed the headlines in
Stock Exchange (HKEx). the Middle East over the last week with a string
of significant announcements on project pro-
DMEA: Ethiopia to improve fuel distribution gress and contract awards.
Ethiopia launched construction on February 1 Foremost of these was the announcement
of a Chinese-backed railway project expected to from Tehran that it will soon complete the up-
improve fuel distribution across the country. and downstream phases of the supergiant South
The railway will run from Djibouti, where Pars offshore gas field, while the country’s oil
fuel is imported, to the central Ethiopian town minister stated that nationwide gas output has
of Awash. The project’s contractor, China Civil reached a record level of 1.04bn cubic metres per
Engineering Construction Corp. (CCECC), is day, with around 700mn cubic metres per day
set to finish construction in nine to 12 months. coming from South Pars alone.

NRG FSU OGM: Rosneft scores more tax breaks NorthAmOil: ConocoPhillips in court over
Russia’s state oil producer Rosneft has signed Willow construction
an investment deal worth up to RUB46bn This week, a court has temporarily delayed the
($617mn) annually with the country’s natural start of winter construction at ConocoPhillips’
resources ministry, covering incentives at the Willow project in Alaska. US District Judge
large but mature Priobskoye oilfield in Western Sharon Gleason said in a decision on Feb-
Siberia. ruary 6 that she would temporarily prevent
Output at the Soviet-era Priobskoye field peaked ConocoPhillips from opening a gravel mine
at 33.8mn tonnes (679,000 barrels per day) in or building a gravel road at the Willow site.
2009 and has been declining ever since, dropping This came after conservation groups appealed
to 480,000 bpd in 2019. Even so, it still accounts against her February 1 decision allowing the
for roughly 5% of Russia’s national oil output. work to go ahead.™

P8 www. NEWSBASE .com Week 06 11•February•2021