Page 14 - EurOil Week 50 2021

EurOil NEWSBASE’S ROUNDUP GLOBAL (NRG) EurOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global December 7 and €101.5 on December 8, before
(NRG), in which the reader is invited to join falling slightly to €100.45 on December 9.
our team of international editors, who provide .
a snapshot of some of the key issues affecting GLNG: Excelerate Begins Deliveries To Ba-
their regional beats. We hope you will like hia LNG
NRG’s new concise format, but by clicking on Excelerate Energy announced on December 8
the headline link for each section the full text that it had begun receiving gas deliveries at Brazil’s
will be available as before. Bahia LNG import terminal in Salvador, Bahia
State.
AfrOil: Ugandan MPs Approve EACOP Spe- The company took control of the Bahia terminal
cial Provisions Bill 2021 last week after signing a lease agreement in Sep-
Uganda moved one step closer towards launch- tember, having already been providing regasifi-
ing commercial hydrocarbon production last cation services at Brazilian regasification facilities
week, when members of Parliament approved a since 2012.
bill designed to facilitate the construction of the
East African Crude Oil Pipeline (EACOP). LatAmOil: Eagle LNG, WEB Aruba Sign
Agreement On LNG Terminal
AsianOil: Senex Agrees To Posco Takeover US-based Eagle LNG Partners has struck an
Australia’s Senex Energy has agreed to be agreement with WEB Aruba, the national
acquired by Posco International, the trading water and power provider of Aruba, on the
arm of South Korean steelmaker Posco, for construction of an LNG regasification termi-
AUD852.1mn ($606.8mn). nal at the site of an existing oil refinery in San
Senex approved the deal after Posco raised its Nicolas.
offer for a third time, to AUD4.60 ($3.30) per The agreement provides for the parties to work
share. The South Korean company initially together to build an LNG import and regasifi-
offered AUD4.00 ($2.85) per share, subsequently cation facility at the Refineria di Aruba (RdA)
hiking this to AUD4.20 ($2.99) and AUD4.40 plant, which has been idle for some time.
($3.13) per share before arriving at the current
price. MEOG: Iraq turns to Majnoon
In this week’s MEOG, we look at Iraq’s plans to
DMEA: ADNOC Ammonia And NNPC ramp up output from one of its biggest fields as it
Spending chases down its ambitious oil production target.
This week’s DMEA features the first ship- Oil Minister Ihsan Abdul Jabbar this week
ment of Emirati ammonia to Japanese refiner attended a ceremony at the Majnoon oilfield and
Idemitsu and an update from NNPC about its expressed optimism about the asset’s future as
refinery rehabilitation spend. the country seeks to drive a significant increase
Idemitsu this week said it had received the first in national oil production.
shipment of blue ammonia from Abu Dhabi
National Oil Co. (ADNOC) following a deal NorthAmOil: Suncor, Cenovus to ramp up
in August. spending in 2022
Canadian oil sands giants Suncor Energy and
FSUOGM: European Gas Prices Continue Cenovus Energy have both said that they intend
Climb to raise their capital expenditure and production
Europe could face rolling blackouts and heating in 2022.
outages this year if the worst predictions are to be The moves appear to be a bet that oil prices will
believed, amid worryingly low levels of storage, continue to recover from last year’s lows, to
supply constraints and escalating tensions at the which they crashed following the onset of the
border of Russia and Ukraine. coronavirus (COVID-19) pandemic. Prices have
The January gas delivery contract at the Dutch strengthened considerably since then and West
TTF hub was up nearly 7% in early trading on Texas Intermediate (WTI) is currently trading at
December 13 at €113 ($127) per MWh. This around $70 per barrel.
latest growth comes after the contract surged by
5% on December 10, reaching €105 per MWh. See the archive and sign up to receive NRG
The contract began last week on December 6 Editor’s Picks for free by email each week
at €89.93 per MWh, but surged to €95.88 on here.™

P14 www. NEWSBASE .com Week 50 16•December•2021