Page 18 - AfrOil Week 08 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global For years Dostluk, formerly known as Kapaz
(NRG), in which the reader is invited to join by Azerbaijan and Serdar by Turkmenistan, was
our team of international editors, who provide a contested by the two Caspian countries. But the
snapshot of some of the key issues affecting their pair signed a memorandum of understanding
regional beats. We hope you will like NRG’s new (MoU) in late January on joint exploration of
concise format, but by clicking on the headline the deposit.
link for each section the full text will be available
as before. GLNG: Pair of Qatari deals
Two separate LNG-related deals have been
AsianOil: CNOOC Ltd’s Bohai Bay find announced this week, involving Qatargas and
State-run Chinese offshore developer CNOOC its parent company, Qatar Petroleum (QP).
Ltd announced on February 22 that it had made Italy’s Saipem said it had received a contract
a significant shallow-water oil and gas discovery worth around $1.7bn from Qatargas for engi-
in the Bohai Bay. neering, procurement, construction and instal-
The discovery in the Bozhong 13-2 structure, lation (EPCI) of various offshore facilities at
which CNOOC Ltd described as “large-sized” Qatar’s North Field.
without providing a resource estimate, is located
in the bay’s south-western Ring of Bozhong Sag, LatAmOil: Pemex offered state support
in around 23 metres of water. Mexico’s government is offering additional fis-
cal support to Pemex, the national oil company
DMEA: Downstream dealing picks up (NOC), in the form of a stimulus package that
Having spent years talking about its plans to includes around $3.5bn in tax breaks and a capi-
overhaul the country’s four state-owned refin- tal boost of $1.3-1.6bn.
eries, Nigeria’s NNPC last week finally secured Its plan complements a set of earlier conces-
funding for a major rehabilitation project focus- sions designed to reduce Pemex’s profit-sharing
ing on the largest unit. duties in 2020 and 2021.
The Port Harcourt maintenance project is
now expected to kick off during Q1 and will look MEOG: Price rally sees improved sentiment
to return the 210,000 barrel per day (bpd) refin- The ongoing oil price rebound has seen sen-
ery to 90% capacity. timent throughout the Middle East improve
ahead of the upcoming OPEC+ meeting
EurOil: TechnipFMC does the splits This event is expected to feature a change of
France’s TechnipFMC has wrapped up the sepa- tack from Saudi Arabia as the Kingdom consid-
ration of its engineering and construction oper- ers reversing its decision to cut output.
ations from its services and technology activities.
TechnipFMC announced the split in mid- NorthAmOil: Profits for TC Energy
2019, two years after the company’s creation Canada’s TC Energy has reported a net profit
through the merger between France-based attributable to common shares of CAD1.124bn
Technip and US-based FMC Technologies. But ($890mn) for the fourth quarter of 2020, up
it put the process on hold after the coronavirus from CAD1.108bn ($878mn) year on year.
(COVID-19) pandemic struck. While the company expressed its disappoint-
ment with US President Joe Biden’s decision to
FSU OGM: Lukoil eyes mid-Caspian field cancel the permit of the Keystone XL pipeline
Russian oil firm Lukoil has expressed interest in project, TC Energy’s CEO, François Poirier,
developing the Dostluk oil and gas field in the noted that it had a “large and diversified” asset
Caspian Sea, Turkmen state media has reported. base. ™

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P18 www. NEWSBASE .com Week 08 24•February•2021