Page 14 - AsianOil Week 38 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global current situation has been caused in large part by
(NRG), in which the reader is invited to join serious shortcomings in European energy policy.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: US manufacturers call for LNG re-
regional beats. We hope you will like NRG's new strictions
concise format, but by clicking on the headline A major trade group in the US has urged the
link for each section the full text will be available government to take steps to curtail the coun-
as before. try’s LNG exports, warning of high domestic
prices and potentially shortages later this year.
AfrOil: Nigeria establishes NNPC Ltd as The request revives a decade-long dispute over
new NOC the economic benefits of rising LNG exports
NIGERIAN President Muhammadu Buhari has and the impact that they have on the domestic
issued an order authorising the incorporation of industry that depends on low-cost gas for power
Nigerian National Petroleum Corp. Ltd (NNPC and feedstock.
Ltd), in line with Section 53(1) of the recently
signed Petroleum Industry Act (PIA). This act LatAmOil: bpTT brings Matapal field on
lays the groundwork for the new company to stream ahead of schedule
replace an existing state-run entity, Nigerian BP Trinidad and Tobago (bpTT), a subsid-
National Corp. (NNPC) as Nigeria’s national oil iary of BP, revealed on September 20 that
company. it had begun extracting natural gas from
the Matapal field offshore Trinidad and
DMEA: Iraq, Iran to expand refining Tobago. In a statement, bpTT said it had
IN DMEA this week we look at plans and pro- succeeded in bringing Matapal on stream
gress by neighbours Iraq and Iran as they seek seven months ahead of schedule, despite the
to increase their oil refining capabilities. Iraq’s challenges posed by the global coronavirus
state-owned North Refineries Co. (NRC) this (COVID-19) pandemic.
week signed a preliminary agreement with
Swedish firm SEAB and Limak Holding of Tur- MEOG: Iraq moves to capture gas
key for investment to construct a 70,000 barrel THIS week’s MEOG looks at efforts by Iraq to
per day refinery at Qayarah near Mosul. Mean- capture and utilise associated gas, while its state
while, Iranian Minister of Petroleum Javad Owji oil marketer said it is yet to receive any oil vol-
this week said that the country aims to increase umes from the Kurdistan region. Baker Hughes
refining capacity while improving the quality of this week agreed a deal with the Ministry of Oil
refined products. to capture up to 200mn cubic feet (5.7mn cubic
metres) per day of gas from the Nassiriyah and
EurOil: Lundin targets climate neutrality in Gharraf oilfields in Dhi Qar Governorate. Mean-
2023 while, despite now being in the second half of
SWEDEN’S Lundin has brought forward its tar- September, Iraq’s Federal and Kurdish Regional
get for reaching carbon neutrality by two years Governments still appear some way short of an
to 2023, the company announced on September agreement to end lengthy arguments about oil
15, representing the most ambitious climate tar- sales.
get for an oil company of its size. The company,
whose flagship project is the Edvard Grieg field NorthAmOil: ConocoPhillips snaps up
in the Norwegian North Sea, said the target cov- Shell’s Permian assets
ered Scope 1, 2 and 3 emissions. ROYAL Dutch Shell has agreed to sell its port-
folio of shale assets in the US’ Permian Basin to
FSUOGM: Gazprom under fire ConocoPhillips for $9.5bn in cash. Shell’s assets
THE widely circulated narrative in the media cover around 225,000 net acres (910.5 square
is that Russia is to blame for record-high gas km) and produce about 175,000 barrels of oil
and power prices in Europe. But in reality, the equivalent per day.™

P14 www. NEWSBASE .com Week 38 24•September•2021