Page 16 - MEOG Week 47 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

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

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

P16 www. NEWSBASE .com Week 47 24•November•2021