Page 14 - NorthAmOil Week 42 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global Russia has finished filling the first string of the
(NRG), in which the reader is invited to join Nord Stream 2 with natural gas, meaning that
our team of international editors, who provide a the pipeline is now technically ready to operate.
snapshot of some of the key issues affecting their But there is still no clarity on when the pipeline
regional beats. We hope you will like NRG’s new will start pumping commercial volumes of gas
concise format, but by clicking on the headline link to Europe, as first it must be certified by German
for each section the full text will be available as regulators.
before.
GLNG: China reportedly seeks more US
AfrOil: Kampala seeks to ease UNOC’s ac- LNG
cess to oil revenues Several Chinese energy firms are reported to be
Uganda’s government has drawn up legislation in talks to secure new long-term supplies of LNG
that would allow the national oil company to from the US as rising gas prices and domestic
access the proceeds from its share of future power shortages cause concerns about gas sup-
crude production. According to The Independ- plies. Citing several sources familiar with the mat-
ent, the government has included provisions to ter, Reuters reported last week that the “advanced”
this effect in the Public Finance Management talks involved at least five Chinese companies,
(Amendment) Bill 2021, which was submitted including state-owned Sinopec and China
to Parliament on October 15. National Offshore Oil Corp. (CNOOC), as well
as local government-backed energy distributor
AsianOil: Senex attracts multiple takeover Zhejiang Energy.
bids from POSCO
Australian independent Senex Energy’s contin- LatAmOil: TotalEnergies will not flare gas
ued success in boosting production has attracted from Block 58
an all-cash takeover bid from South Korea’s Patrick Pouyanné, the CEO of France’s TotalEn-
POSCO International. Senex said on October 18 ergies, has said that his company will not flare
that POSCO had submitted a non-binding and any of the associated gas contained within its
indicative proposal to acquire all of the Austral- oilfields offshore Suriname. Speaking during the
ian developer’s stock for AUD4.40 ($3.29) per Energy Intelligence Forum earlier this month,
share on September 2, valuing the company at Pouyanné noted that the oil-rich sections of
AUD815mn ($608.5mn). Block 58, which TotalEnergies is developing in
co-operation with US-based Apache, contained
DMEA: Challenges and progress significant volumes of associated gas.
This week’s DMEA covers the outbreak of a fire
at Kuwait’s second-largest refinery and a contract MEOG: Sakarya award and Farzad-B query
award for a new refining unit in Egypt. Down- In this week’s MEOG, we look at the award to
stream-focused Kuwait National Petroleum Schlumberger and Subsea 7 of a major contract
Co. (KNPC) reported an explosion and fire at offshore Turkey and Indian interest in work
the country’s Mina Al-Ahmadi refinery which doled out to an Iranian firm. US oilfield services
injured several workers but did not affect oper- specialist Schlumberger this week announced
ations. Meanwhile, Egypt’s Ministry of Petro- that it had been awarded a contract as part of a
leum and Mineral Resources announced that the consortium by Turkish Petroleum (TPAO) for
Assiut National Oil Processing Co. (ANOPC) work on the offshore Sakarya gas field. Mean-
has signed a memorandum of understanding while, India’s ONGC Videsh Ltd (OVL) has
with two local firms for the development of a new asked the Iranian government to clarify the
atmospheric distillation unit. terms of the contract it awarded to local firm
Petropars to develop the offshore Farzad-B gas
EurOil: EU takes aim at Russia’s Arctic oil field in May.
and gas wealth
The EU has proposed a new Arctic strategy NorthAmOil: Halliburton narrowly beats
which, if implemented, would prevent member third-quarter earnings estimates
states from acquiring oil and gas from the Rus- Oilfield services giant Halliburton has beaten
sian Arctic. While Moscow has downplayed the analyst estimates with its third-quarter results,
impact of this move, it could undermine efforts which were announced this week. The com-
to exploit trillions of dollars of oil and gas in Rus- pany posted net income of $236mn, or $0.26
sia’s far north, putting it on a political collision per share, for the quarter, up from a net loss of
course with Brussels. $17mn in the same quarter a year ago.

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P14 www. NEWSBASE .com Week 42 21•October•2021