Page 17 - EurOil Week 47 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global Subject to government and regulatory approv-
(NRG), in which the reader is invited to join als, the deal will bolster Rosneft’s overall refining
our team of international editors, who provide a capacity in Germany by 86,000 bpd to 344,000
snapshot of some of the key issues affecting their bpd, establishing it as the second-largest player
regional beats. We hope you will like NRG's new after Shell.
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: LNG Trade Booms Ahead Of Winter
as before. The global LNG trade is booming ahead of
the Northern Hemisphere winter. The leading
AfrOil: TotalEnergies Ready To Invest Bil- buyers in the world – China, Japan and South
lions In Libyan Projects Korea – are ramping up imports this month,
TotalEnergies (France) has announced while in the US, LNG exports have reached
plans to invest billions of dollars in Libya’s record highs.
oil industry. The boom in US LNG exports provided
According to Patrick Pouyanné, the com- some relief to buyers in Europe, who face com-
pany’s CEO, the French major is ready to petition from Asia as they scramble to replen-
support efforts to increase production and ish gas stockpiles ahead of the winter. Indeed,
intends to pump $2bn into the Waha oil- major buyers in Asia are reported to be receiv-
fields. TotalEnergies anticipates that this ing more cargoes than Europe.
project will raise the North African coun-
try’s crude output by 100,000 barrels per day LatAmOil: ExxonMobil, SBM Discussing
(bpd), he said. Fourth FPSO For Stabroek
US-based ExxonMobil is reportedly in dis-
AsianOil: Woodside Takes FIDs On Scar- cussions with the Dutch contractor SBM
borough And Pluto LNG 2 Offshore on the construction of a fourth
Australia’s largest oil and gas producer floating production, storage and off-loading
Woodside has reached final investment (FPSO) vessel for installation at the Stabroek
decisions (FIDs) for both the Scarbor- block offshore Guyana.
ough gas field development as well as the Two sources close to the matter told Reu-
expansion of the Pluto liquefied natural gas ters last week that the parties had already
(LNG) facility. begun negotiations. One of the key subjects
Woodside announced the FIDs on under discussion is a proposal for building
November 22, the same day it revealed that some of the components of the FPSO in Guy-
it had signed a binding share sale agreement ana itself, they noted.
(SSA) with BHP – a Scarborough project
partner – on the independent’s merger with MEOG: A Flurry Of Contract Awards
the mining giant’s oil and gas portfolio. In this week’s MEOG we cover contract
awards in Turkey and the UAE as developers
DMEA: Downstream Deals And Progress seek to make progress on major gas projects.
This week’s DMEA covers the breakdown of Italian engineering, procurement and
talks on a downstream mega deal and pro- construction (EPC) specialist Saipem
gress developing the final South Pars gas was awarded a deal by Turkish Petroleum
refinery. (TPAO) to lay a 175-km pipeline tying back
Saudi Aramco and India’s Reliance the offshore Sakarya gas field to the Turkish
Industries Ltd called off a major downstream mainland.
deal following years of talks, but the Saudi
firm wasted no time in opening discussions NorthAmOil: US Confirms Co-Ordinated
with another Indian state giant for crude SPR Release
offtake. The move will be co-ordinated with China,
India, South Korea, Japan and the UK in a bid
FSUOGM: Rosneft Expands In German Re- to provide relief from oil prices that recently See the archive and
fining reached their highest level in seven years. sign up to receive
Russian oil giant Rosneft has announced it The initiative comes after the OPEC+ group *NRG Editor’s Picks*
is expanding its German refining footprint has ignored repeated calls to reduce crude for free by email each
through the purchase of Royal Dutch Shell’s prices by releasing more oil into the mar- week here
minority stake in the 230,000 barrel per day ket. The group recently opted to maintain its
(bpd) PCK Schwedt refinery in the country’s current output plan, which entails scaling up
north-east. production by only 400,000 barrels per day
Rosneft said on November 17 it had exer- (bpd) each month until the end of 2022. Thus
cised its pre-emptive right for a 37.5% stake far, OPEC+ has shown no signs of changing
in the refinery, bolstering its share to 91.7%. course.

Week 47 25•November•2021 www. NEWSBASE .com P17