Page 19 - DMEA Week 47 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global its pre-emptive right for a 37.5% stake in the
(NRG), in which the reader is invited to join refinery, bolstering its share to 91.7%.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: LNG trade booms ahead of winter
regional beats. The global LNG trade is booming ahead of the
We hope you enjoy NRG’s new concise for- Northern Hemisphere winter. The leading buy-
mat, but by clicking on the headline link for each ers in the world – China, Japan and South Korea
section the full text will be available as before. – are ramping up imports this month, while in
the US, LNG exports have reached record highs.
AfrOil: TotalEnergies to invest in Libya The boom in US LNG exports provided some
TotalEnergies has announced plans to invest relief to buyers in Europe, who face competition
billions of dollars in Libya’s oil industry. Accord- from Asia as they scramble to replenish gas
ing to Patrick Pouyanné, the company’s CEO, stockpiles ahead of the winter.
the French major is ready to support efforts to
increase production and intends to pump $2bn LatAmOil: BI hikes US ethane imports
into the Waha oilfields. Braskem Idesa (BI), the Brazilian-Mexican joint
TotalEnergies anticipates that this project will venture that owns the Nanchital petrochemical
raise the North African country’s crude output complex in Veracruz State, saw ethane import
by 100,000 bpd, he said. volumes climb to an all-time high in September
of this year.
AsianOil: Woodside takes FIDs According to an interim report from Bras-
Australia’s largest oil and gas producer Woodside kem, the Brazilian partner in the joint venture,
has reached final investment decisions (FIDs) for BI imported 22,400 bpd of ethane from the US
both the Scarborough gas field development as in the month of September.
well as the expansion of the Pluto LNG facility.
Woodside announced the FIDs on Novem- MEOG: A flurry of contract awards
ber 22, the same day it revealed that it had signed Italian engineering, procurement and con-
a binding share sale agreement with BHP on the struction specialist Saipem was awarded a deal
independent’s merger with the mining giant’s oil by Turkish Petroleum (TPAO) to lay a 175-km
and gas portfolio. pipeline tying back the offshore Sakarya gas field
to the Turkish mainland.
EurOil: Shell’s Dutch exit Meanwhile, Abu Dhabi National Oil Co.
Royal Dutch Shell has announced unexpectedly (ADNOC) last week awarded $1.46bn worth of
on November 15 it would be moving its tax res- EPC deals for the development of the offshore
idency from the Netherlands to the UK, while Dalma gas field.
also simplifying its shareholder structure.
The company will also move its head office to NorthAmOil: US confirms SPR release
the UK, and hold board and committee meetings The move will be co-ordinated with China,
there. The Dutch government has responded India, South Korea, Japan and the UK in a bid
by saying it is “unpleasantly surprised” by the to provide relief from oil prices that recently
decision. reached their highest level in seven years.
The initiative comes after the OPEC+ group
FSUOGM: Rosneft’s German expansion has ignored repeated calls to reduce crude prices
Russian oil giant Rosneft has announced it by releasing more oil into the market. The group
is expanding its German refining footprint recently opted to maintain its current output
through the purchase of Royal Dutch Shell’s plan, which entails scaling up production by
minority stake in the 230,000 barrel per day only 400,000 barrels per day (bpd) each month
(bpd) PCK Schwedt refinery in the country’s until the end of 2022.
north-east. Thus far, OPEC+ has shown no signs of
Rosneft said on November 17 it had exercised changing course.™

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

Week 47 25•November•2021 www. NEWSBASE .com P19