Natural Gas Daily: August 14th, 2020

Oxy Promises Bigger Algerian Operation

US Occidental Petroleum (Oxy) is committing to invest more in Algeria jointly with Sonatrach, according to the national oil company August 12. Oxy, which failed to sell its newly acquired Algerian operations to French major Total when it bought Anadarko, has reportedly since then held assets sales talks with Indonesian state Pertamina.

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• Selling all of Anadarko's African assets to Total for the agreed price of $8.8bn would have enabled Oxy to repay some of the debt incurred buying Anadarko but the deal was blocked by the north African country in May.

• Oxy reported late August 10 a Q2 loss of $8.2bn following impairments of $6.6bn on top of an adjusted loss of $1.6bn.

Rosneft Output Dips on Opec Cuts, Covid-19

Russian oil producer Rosneft saw hydrocarbon output fall in the first half of the year – mostly in Q2 – as much of its gas is associated with oil production and gas demand was lower too. First half sales of 27.97bn m³ were down 11% year on year.

• Fellow Russian oil producer Gazprom Neft said on July 27 that its joint venture with Rosneft had put into operation an underground gas storage facility at a remote field in the Arctic, as a solution for dealing with associated petroleum gas (APG).

Gas Malaysia's Q2 Profit Down 9%

Malaysian gas retailer Gas Malaysia announced on August 13 its net profit for the three months to June 30 (Q2) dropped 9% yr/yr to ringgit 44.62mn ($10.62mn) owing to lower gas sales volume and average price.

• The company was granted a 10-year licence by the Energy Commission to import LNG into the country in March.

Nakilat Takes Full Control of Al Sadd LNGC

Qatari shipowner Nakilat has assumed full ship management and operations of Q-Flex LNG carrier Al Sadd from Shell Trading and Shipping Company as part of the second phase of its fleet management transition programme, it said on August 13.

• Nakilat’s net profit during the six months to June 30 was Qatari riyal 550mn ($151mn), up 15% yr/yr, it said on July 15 in a statement.