Page 13 - NorthAmOil Week 45 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global up its gas storage facilities in Europe, which
(NRG), in which the reader is invited to join should help ease the continent’s supply crunch.
our team of international editors, who provide a “Gazprom approved and began implementation
snapshot of some of the key issues affecting their of the plan for pumping gas into five European
regional beats. We hope you will like NRG’s new underground storage facilities in November,” the
concise format, but by clicking on the headline link company reported via its social media channels.
for each section the full text will be available as
before. GLNG: Saipem sees Mozambique LNG pro-
ject restarting in mid-2022
AfrOil: ExxonMobil hopes to cut Rovuma ARC Resources said last week that it had struck a
LNG costs, carbon emissions deal to supply natural gas to a member of the LNG
ExxonMobil (US) is working to reduce the car- Canada consortium, which is building an LNG
bon footprint of its Rovuma LNG project while export terminal on the British Columbia coast.
also cutting costs, Mozambique’s Energy Minis- The agreement is set to take effect when LNG
ter Max Tonela has said. Speaking at a press con- Canada enters service – expected in 2025 – and
ference in Maputo on November 4, Tonela stated will see ARC supply 150mn cubic feet (4.2mn
that representatives of the US-based super-major cubic metres) per day of gas over the long term to
had outlined plans for Rovuma LNG in a meet- be used as feedstock for the terminal.
ing with Mozambican President Filipe Nyusi.
LatAmOil: Argentina’s electricity export
AsianOil: POSCO wins over Senex board earnings will fund Vaca Muerta gas pipe-
with new bid line
South Korea’s POSCO International has sub- Argentina expects to use the proceeds of elec-
mitted a new bid for Senex Energy that has tricity exports to Brazil to finance two major
finally won the backing of the Australian devel- infrastructure projects that will facilitate the
oper’s board. Senex said on November 8 that it development of the Vaca Muerta shale forma-
had received a further improved non-binding tion. News of these plans emerged after the
proposal from POSCO to acquire 100% of the Energy Secretariat adopted a new ruling gov-
Australian firm for an all-cash offer of AUD4.60 erning the use of export revenues.
($3.42) per share.
MEOG: Cost-cutting and reshuffling
DMEA: Fertiglobe results and Aramco In this week’s MEOG, we look at the ongoing
backing talks between Iraq and Jordan to cut costs on
In this week’s DMEA, we look at Fertiglobe’s their planned cross-border pipeline and new
Q3 results improvement and Saudi Aram- appointments at the top of Yemeni oil firms.
co’s backing for an industrial chemicals spe- The governments of Iraq and Jordan remain
cialist. The Fertiglobe joint venture between in discussions over the development of a long-
Dutch chemicals manufacturer OCI and Abu planned cross-border oil pipeline but only if
Dhabi National Oil Co. (ADNOC) this week costs are reduced significantly, according to
announced a 2,000% increase in Q3 net profit. an update this week from Baghdad’s Ministry
Meanwhile, Saudi-based Amad Chemicals Co. of Oil. Meanwhile, Yemeni President Abd Rab-
this week received a $1.3mn loan from Aramco’s buh Mansur Hadi this week appointed new
investment arm Wa’ed to finance the company’s executives at two state-owned oil companies as
expansion in the Kingdom. fighting intensified between government and
Iranian-backed militants in the oil-rich Ma’rib
EurOil: Shell calls time on oil refining in Governorate.
Germany
Royal Dutch Shell announced on November 4 it NorthAmOil: Biden administration denies
was ending oil processing at its Rheinland refin- considering Line 5 shutdown
ery in Wesseling in Germany as part of its shift The administration of US President Joe Biden
to lower-carbon energy. Oil processing at the has denied reports that it was considering shut-
site will cease in 2025, and from then on it will ting down Enbridge’s Line 5 pipeline, which
produce low or zero-carbon products instead, is at the centre of a dispute with the State of
Shell said. Michigan. Reports had emerged that the Biden
administration was quietly studying the impact
FSUOGM: Gazprom stockpiling domesti- of shutting down Line 5.
cally
Natural gas prices fell on November 9 after Rus- See the archive and sign up to receive NRG Editor’s
sia’s Gazprom announced it had begun filling Picks for free by email each week here.™

Week 45 11•November•2021 www. NEWSBASE .com P13