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GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG
NewsBase’s Roundup Global (NRG)
NRG
WELCOME to NewsBase’s Roundup Global (NRG), in which the reader is invited to join our team of international editors, who provide a snapshot of some of the key issues affecting their regional beats. We hope you will like NRG’s new concise format, but by clicking on the headline link for each section the full text will be available as before.
AfrOil: Namibian court denies NGOs’ re- quest for Kavango exploration halt
The High Court of Namibia has ruled that the Canadian company Reconnaissance Africa (ReconAfrica) and its local partner, National Petroleum Corp. of Namibia (NAMCOR), may proceed with exploration work at PEL 73, a block in the Kavango basin in the north-eastern part of the country. The court, led by Justice Thomas Masuku, issued a judgment to this effect on July 29.
AsianOil: Petronas partners with South Ko- rean firms on CCS opportunities
Malaysia’s Petronas said on August 2 that it had signed a memorandum of understanding with six South Korean companies that will see them collaborate on carbon dioxide (CO2) capture, transport and storage. The six companies are Samsung Engineering, Samsung Heavy Indus- tries, SK Earthon, SK Energy, GS Energy and Lotte Chemical.
DMEA: Partners resume Natref operations
South Africa’s Sasol and its French part- ner TotalEnergies announced that they have restarted their joint venture at Sasolburg fol- lowing the resumption of feedstock deliveries. Delayed crude oil deliveries caused the JV to close the 107,000 barrel per day National Petro- leum Refiners of South Africa (Natref) unit, which is one of only two operational refiner- ies in the country, with closures following the announcement of the Clean Fuels 2 (CF2) legis- lation, which will mandate the use of ultra-low- sulphur gasoline and diesel products when it comes into effect.
EurOil: Denmark’s Tyra field suffers further delays
The restart of Denmark’s largest gas field has been delayed for six to nine months, until the final quarter of 2023 or the first quarter of 2024, its operators announced on August 3, in a major setback in the country’s efforts to limit gas imports. Operator TotalEnergies and its partner Noreco cited global supply chain issues caused by the ripple effect from the coronavirus (COVID- 19) pandemic, which have delayed fabrication work on the field’s process module that has been
completed at a shipyard in Batam, Indonesia.
FSUOGM: Russia raises stakes in Sakhalin showdown
Russia has raised the stakes in a standoff with Western investors at major oil and gas projects in the Far East, blaming Sakhalin-1 operator Exx- onMobil for a collapse in production, and giving Shell and other investors at the Sakhalin-2 pro- ject a month to decide whether they want to keep their stakes. Oil output at Sakhalin-1 has virtu- ally ceased, ExxonMobil’s Russian state partner in the project Rosneft said on August 4.
GLNG:BP,EnicompleteformationofAzule Energy JV in Angola
BP (UK) and Eni (Italy) confirmed on August 2 that they had completed the process of establish- ing Azule Energy, a new joint venture that will combine both companies’ upstream, LNG and solar energy assets in Angola. In a joint statement, BP and Eni noted that Azule Energy’s portfolio would include equity stakes in 16 Angolan oil and gas blocks, including six exploration blocks, that are believed to contain around 2bn barrels of oil equivalent in net resources.
LatAmOil: Perencosteps up efforts to col- lect settlement from Ecuador
Perenco (UK/France) has stepped up its efforts to collect a settlement of at least $374. 3mn related to a decade-old lawsuit over profit-shar- ing from the government of Ecuador. On August 1, the company announced in a statement that it had frozen all bank accounts in Luxembourg that Ecuador’s government uses to make pay- ments on certain bond coupons.
MEOG: Iran says oil funds are in place
In MEOG, we looked at Iran’s announcement that a large portion of its planned investment to develop the country’s oil sector is in place. Speaking on national TV, Oil Minister Javad Owji reiterated that $160bn of investment will be required over the next eight years to enable Iran to complete oil development projects.
NorthAmOil: Freeport LNG to resume oper- ations in October
A US regulator this week gave approval for Free- port LNG to partially resume operations follow- ing an explosion and a fire in June. The operator of the 15mn tonne per year facility received con- sent from the Pipeline and Hazardous Materials Safety Administration (PHMSA), allowing it to return to action in October at almost full capac- ity, pending the implementation of corrective measures.
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