Page 14 - NorthAmOil Week 46 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global and gas majors in reporting a surge in profits in
(NRG), in which the reader is invited to join the third quarter on the back of higher prices,
our team of international editors, who provide a with its CEO Igor Sechin predicting a “super
snapshot of some of the key issues affecting their cycle” in energy markets would drive prices
regional beats. We hope you will like NRG’s new higher as demand recovers. Rosneft’s EBITDA
concise format, but by clicking on the headline link came in at $8.7bn (RUB638bn) in the three-
for each section the full text will be available as month period, up 13% quarter on quarter, while
before. net income rose by 38.7% to $4.3bn.

AfrOil: Shell, Equinor resume talks on Tan- GLNG: Details disclosed of Cheniere’s LNG
zania LNG project supply deal with France’s Engie
Tanzania’s Energy Minister January Makamba Leading US LNG producer Cheniere Energy
confirmed last week that his country’s gov- struck a deal to supply the super-chilled fuel to
ernment had resumed talks with several inter- France’s Engie earlier this year, according to a let-
national oil companies on the Tanzania LNG ter to the US Department of Energy whose details
project. Makamba made his announcement in have now been made public. The deal is notable
a pair of Twitter posts and said he expected this because last year Engie pulled out of talks over a
large-scale initiative to benefit the country. potential supply deal with another US firm, Nex-
tDecade, having reportedly come under pressure
AsianOil: Petronas signs raft of CCUS from the French government not to buy LNG pro-
agreements duced from shale gas.
Malaysia’s state-owned Petronas has signed a
number of agreements this month with inter- LatAmOil: ExxonMobil, SBM discussing
national partners that focus on developing car- fourth FPSO for Stabroek
bon capture, utilisation and storage technology. US-based ExxonMobil is reportedly in discus-
Petronas has signed a memorandum of under- sions with the Dutch contractor SBM Offshore
standing with Baker Hughes to collaborate on on the construction of a fourth floating produc-
“technological developments supporting energy tion, storage and off-loading (FPSO) vessel for
transition”, among other things, it announced. installation at the Stabroek block offshore Guy-
ana. Two sources close to the matter told Reu-
DMEA: Borouge expansion announced ters last week that the parties had already begun
This week’s DMEA covers the expansion of Abu negotiations.
Dhabi’s key polyolefins plant and calls to cancel a
pipeline connecting the Red Sea to the Mediter- MEOG: Eridu plans and Kuwait’s transition
ranean. Abu Dhabi National Oil Co. (ADNOC) This week’s MEOG looks at Lukoil’s plans for
this week signed a $6.2bn investment agreement a southern Iraqi oilfield and comments by
with Austria-based Borealis for the Borouge Kuwait’s Oil Minister about the country’s energy
joint venture’s fourth facility in the UAE’s Ruwais transition. Iraq’s Ministry of Oil said this week
downstream hub. Meanwhile, Israeli Energy that it has received a development plan for the
Minister Karine Elharrar this week called for Eridu oilfield from Russia’s Lukoil, envisaging
the cancellation on environmental grounds of peak production of 250,000 barrels per day.
a deal to develop an oil transmission project to Meanwhile, Kuwaiti Oil Minister Mohammed
pipe Emirati oil from the Red Sea directly to the Al Fares this week repeated intentions to ramp
Mediterranean. up oil production, though made some prelim-
inary comments about the country’s plans to
EurOil: Germany hits back against nuclear embark on the energy transition.
Disagreements over which fuels the EU should
recognise as sustainable are heating up, with NorthAmOil: Freeport LNG announces CCS
Germany and four other member states on plan amid news of stake sale
November 11 warning against the inclusion of Freeport LNG Development announced this
nuclear energy. In a joint statement issued by week that it had executed a letter of intent with
the environment ministers of Germany, Den- Talos Energy to jointly develop a carbon capture
mark, Luxembourg, Austria and Portugal, the and storage facility to serve the Freeport lique-
countries said including nuclear power in the faction terminal on the Texas Gulf Coast. The
proposed EU taxonomy would permanently announcement about the FLNG CCS project
damage the regulation’s “integrity, credibility and came a day after Global Infrastructure Partners
therefore its usefulness.” said that it was selling its 25.7% stake in Freeport
to Japan’s JERA for $2.5bn.
FSUOGM: Sechin warns of energy “super
cycle” See the archive and sign up to receive NRG Editor’s
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P14 www. NEWSBASE .com Week 46 18•November•2021