Page 17 - DMEA Week 44 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global Miller was discussing the situation on the
(NRG), in which the reader is invited to join gas market in a meeting with Russian President
our team of international editors, who provide a Vladimir Putin.
snapshot of some of the key issues affecting their
regional beats. GLNG: Moz. LNG may restart In mid-2022
We hope you enjoy NRG’s new concise for- Italian energy services provider Saipem said on
mat, but by clicking on the headline link for each October 28 that it expects work on the Mozam-
section the full text will be available as before. bique LNG project, which was put on hold
this year for security reasons, to restart around
AfrOil: Local content pessimism in Angola mid-2022. During a conference call with ana-
Angola’s government has made a number of lysts, Saipem’s chief financial officer, Antonio
efforts to increase local content in oil and gas Pacioretti, indicated that he did not expect the
projects involving IOCs, but its approach has project to make any significant contributions to
had only limited effect, according to a former his company’s performance in 2021.
director of the national oil company (NOC)
Sonangol. LatAmOil: More disappointment at Canje
Arnaldo Lago de Carvalho, a businessman Esso Exploration & Production Guyana Ltd
who previously served on Sonangol’s board of (EEPGL), a subsidiary of ExxonMobil (US),
directors, said last week that he saw the NOC has reportedly completed its third exploration
itself as the biggest obstacle to increasing local well at the Canje block offshore Guyana without
content in oil and gas projects. discovering commercial hydrocarbon reserves.
According to JHI Associates, a non-operating
AsianOil: FID taken on Moomba CCS partner in the Canje project, the Sapote-1 well
Santos and Beach Energy have reached a final was drilled in 2,549-metre-deep water and sunk
investment decision (FID) on their $165mn to a total depth of 6,758 metres.
Moomba carbon capture and storage (CCS)
project in South Australia. MEOG: Aramco results and Iraq deals
Santos said on November 1 that the project, Saudi Aramco this week announced its Q3
which it operates with a 66.7% interest while results which were highlighted by $30.4bn in net
Beach holds the remainder, was slated to start income, up 158% compared to the same period
up in 2024. last year, taking it back to top spot as the world’s
most profitable company.
EurOil: Shell resists break-up call Meanwhile, Iraqi Oil Minister Ihsan Abdul
Royal Dutch Shell has rejected a call by an activ- Jabbar this week said that the government
ist shareholder to break up the oil major, arguing intends to sign billions of dollars worth of gas,
that the company works better as a united entity. renewables, water and petrochemicals deals
Third Point, owned by billionaire activist with Saudi Arabia before the end of its term
investor Daniel Loeb, has accumulated a stake
valued at nearly $750mn in Shell, and is seeking NorthAmOil: Uptick for American firms
its break-up. The earnings season is in full swing, and a grow-
ing number of North American producers is
FSUOGM: Gazprom stockpiling reporting stronger performances thanks to
Russia’s Gazprom expects to finish stockpiling commodity prices being at multi-year highs.
gas at its Russian storage sites on November 8, Among those reporting stronger perfor-
CEO Alexei Miller said on October 27, after mances are super-majors Chevron and Exx-
which it will shift its focus to filling its sites else- onMobil, which posted their highest quarterly
where in Europe. profits in years.™

See the archive and sign up to
receive *NRG Editor’s Picks* for
free by email each week here

Week 44 04•November•2021 www. NEWSBASE .com P17