Page 16 - FSUOGM Week 44 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global activist investor Daniel Loeb, has accu-
(NRG), in which the reader is invited to join mulated a stake valued at nearly $750mn
our team of international editors, who provide a in Shell, and is seeking its break-up.
snapshot of some of the key issues affecting their According to Reuters, Third Point argues
regional beats. We hope you will like NRG's new that the major has “too many competing
concise format, but by clicking on the headline stakeholders pushing it in too many dif-
link for each section the full text will be available ferent directions,” leading to “incoherent”
as before. strategy.
AfrOil: Former Sonangol Director Pessimis- GLNG: Saipem Sees Mozambique LNG Pro-
tic About Local Content ject Restarting In Mid-2022
Angola’s government has made a number Italian energy services provider Saipem said on
of efforts to increase local content in oil October 28 that it expects work on the Mozam-
and gas projects involving international oil bique LNG project, which was put on hold this
companies (IOCs), but its approach has had year for security reasons, to restart around
only limited effect, according to a former mid-2022.
director of the national oil company (NOC) During a conference call with analysts,
Sonangol. Saipem’s chief financial officer, Antonio
Arnaldo Lago de Carvalho, a businessman Pacioretti, indicated that he did not expect the
who previously served on Sonangol’s board of project to make any significant contributions
directors, said last week that he saw the NOC to his company’s performance in 2021.
itself as the biggest obstacle to increasing local
content in oil and gas projects. “The area of LatAmOil: ExxonMobil’s Third Disappoint-
local content is very weak in the country pre- ment At Canje Block
cisely because it was blocked by Sonangol,” he Esso Exploration & Production Guyana Ltd
commented. (EEPGL), a subsidiary of ExxonMobil (US),
has reportedly completed its third explora-
AsianOil: Santos, Beach Reach FID On tion well at the Canje block offshore Guyana
Moomba CCS without discovering commercial hydrocar-
Santos and Beach Energy have reached a bon reserves.
final investment decision (FID) on their According to JHI Associates, a non-operat-
$165mn Moomba carbon capture and stor- ing partner in the Canje project, the Sapote-1
age (CCS) project in South Australia. well was drilled in 2,549-metre-deep water
Santos said on November 1 that the pro- and sunk to a total depth of 6,758 metres.
ject, which it operates with a 66.7% interest
while Beach holds the remainder, was slated MEOG: Aramco Results And Iraq Deals
to start up in 2024. This week’s MEOG includes Aramco’s Q3
results announcement and plans for deals
DMEA: Zarqa Expansion And Duqm Update between Baghdad and Riyadh.
This week’s DMEA covers the submission of Saudi Aramco this week announced its Q3
bids for the expansion of Jordan’s sole refin- results which were highlighted by $30.4bn in
ery and an update on the timeline for Oman’s net income, up 158% compared to the same
Duqm refinery. period last year, taking it back to top spot as
Jordan Petroleum Refinery Co. (JoPet- the world’s most profitable company.
rol) this week announced that it had received
bids from engineering firms for a contract to NorthAmOil: Chevron To Aim For Net Zero
expand the country’s Zarqa refinery under By 2050
the so-called Project Petra. Chevron announced this week that it would
pursue net-zero greenhouse gas (GHG) emis-
EurOil: Shell Resists Break-Up Call sions by 2050. The company described the tar- See the archive and
Royal Dutch Shell has rejected a call by get as an “aspiration”, and while it fell short of sign up to receive
an activist shareholder to break up the oil the more aggressive net-zero goals set by Euro- *NRG Editor’s Picks*
major, arguing that the company works pean rivals such as Royal Dutch Shell and BP, for free by email each
better as a united entity. it marks the first such move by one of the two week here
Third Point, owned by billionaire US super-majors.

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