Page 16 - LatAmOil Week 41 2021

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global limit the emissions from its oil and gas business.
(NRG), in which the reader is invited to join Repsol was the first major oil and gas producer
our team of international editors, who provide a to aim for net-zero emissions by 2050.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new FSU OGM: European gas prices slide back
concise format, but by clicking on the headline after Putin comments
link for each section the full text will be available Natural gas prices in Europe took a dive on the
as before. afternoon of October 6, after Russian President
Vladimir Putin hinted that Gazprom might
AfrOil: ReconAfrica’s seismic survey draws release more supply onto the market. The con-
fire from NGO tract for November gas delivery at the Dutch
Toronto-listed Reconnaissance Africa Energy, TFF platform briefly soared to almost $2,000 per
known as ReconAfrica, has come under fire 1,000 cubic metres in the early hours of trading,
from a local non-governmental organisation before sliding back down around $1,700.
called Frack Free Namibia (FFN). In a statement
issued last week, FFN alleged that ReconAfrica’s GLNG: PNG government wants bigger
exploration activities had disrupted local com- stake in PNG LNG
munities in the Kavango basin. The government of Papua New Guinea (PNG)
has said that it would want to up its stake in the
AsianOil: ENN seals long-term LNG supply PNG LNG project if the proposed takeover
deal with Cheniere of Oil Search by Santos goes ahead. Under the
Chinese utility ENN Natural Gas has signed proposed deal, Santos will acquire Oil Search’s
a new long-term liquefied natural gas sup- interest in PNG LNG, making it the biggest sin-
ply agreement with the US’ Cheniere Energy. gle shareholder in the project, which is operated
The Chinese company said on October 11 that by ExxonMobil, with a 42.5% stake.
Cheniere had agreed to supply 900,000 tonnes
per year of the fuel for 13 years from July 2022 MEOG: New targets and rebranding
on a free-on-board basis. Iraq’s Ministry of Oil believes it is nearing the
conclusion of talks with IOCs developing its
DMEA: Ruwais cancellation and another major oilfields regarding efforts that will increase
IPO the country’s oil production to 8mn barrels per
State-owned Abu Dhabi National Oil Co. day by 2027. Meanwhile, government-owned
(ADNOC) this week has said that it will no Qatar Petroleum (QP) is in the process of
longer proceed with a major expansion of its rebranding as QatarEnergy in a nod to a strategic
downstream hub at Ruwais, citing a lack of com- shift to focus on more environmentally friendly
mercial attractiveness. Meanwhile, Saudi Ara- operation.
mco is continuing its asset monetisation strategy,
with reports suggesting it is once again prepar- NorthAmOil: Chevron to aim for net zero
ing to follow the lead of regional competitor by 2050
ADNOC with the listing of a share in its fuel arm. Chevron announced this week that it would pur-
sue net-zero greenhouse gas emissions by 2050.
EurOil: Repsol sets 2030 clean energy The company described the target as an “aspira-
target tion,” and while it fell short of the more aggres-
Spanish energy group Repsol has announced it sive net-zero goals set by European rivals such as
is increasing its 2030 target for renewable energy Royal Dutch Shell and BP, it marks the first such
capacity by 60%, while also setting new targets to move by one of the two US super-majors. ™

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P16 www. NEWSBASE .com Week 41 14•October•2021