Page 17 - MEOG Week 38 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global EurOil: Lundin’s 2023 climate target
(NRG), in which the reader is invited to join Sweden’s Lundin has brought forward its target
our team of international editors, who provide a for reaching carbon neutrality by two years to
snapshot of some of the key issues affecting their 2023, the company announced on September
regional beats. 15, representing the most ambitious climate tar-
We hope you enjoy NRG’s new concise for- get for an oil company of its size. The company,
mat, but by clicking on the headline link for each whose flagship project is the Edvard Grieg field
section the full text will be available as before. in the Norwegian North Sea, said the target cov-
ered Scope 1, 2 and 3 emissions.
AfrOil: NNPC Ltd established as new NOC
Nigerian President Muhammadu Buhari has FSUOGM: Gazprom under fire
issued an order authorising the incorporation of The widely circulated narrative in the media is
Nigerian National Petroleum Corp. Ltd (NNPC that Russia is to blame for record-high gas and
Ltd), in line with Section 53(1) of the recently power prices in Europe. But in reality, the cur-
signed Petroleum Industry Act (PIA). rent situation has been caused in large part by
This act lays the groundwork for the new serious shortcomings in European energy policy.
company to replace an existing state-run entity,
Nigerian National Corp. (NNPC) as Nigeria’s GLNG: US manufacturers call for slowdown
national oil company. A major trade group in the US has urged the
government to take steps to curtail the country’s
AsianOil: Strike completes WA pre-FEED LNG exports, warning of high domestic prices
Australian natural gas developer Strike Energy and potentially shortages later this year.
has completed a pre-front-end engineering and The request revives a decade-long dispute
design study on an ammonia and urea manufac- over the economic benefits of rising LNG
turing facility development in Western Australia. exports and the impact that they have on the
Strike said on September 20 that interna- domestic industry that depends on low-cost gas
tional oil and gas services provider Technip for power and feedstock.
Energies’ seven-month plant study had resulted
in a 6% reduction in capital estimates compared LatAmOil: Matapal ahead of schedule
with feasibility study estimates from January. BP Trinidad and Tobago (bpTT), a subsidiary of
BP, revealed on September 20 that it had begun
DMEA: Iraq, Iran to expand refining extracting natural gas from the Matapal field off-
In DMEA this week we look at plans and pro- shore Trinidad and Tobago.
gress by neighbours Iraq and Iran as they seek to In a statement, bpTT said it had succeeded in
increase their oil refining capabilities. bringing Matapal on stream seven months ahead
Iraq’s state-owned North Refineries Co. of schedule, despite the challenges posed by the
(NRC) this week signed a preliminary agreement global coronavirus (COVID-19) pandemic.
with Swedish firm SEAB and Limak Holding of
Turkey for investment to construct a 70,000 bar- NorthAmOil: ConocoPhillips’s Permian deal
rel per day refinery at Qayarah near Mosul. Royal Dutch Shell has agreed to sell its portfo-
Meanwhile, Iranian Minister of Petroleum lio of shale assets in the US’ Permian Basin to
Javad Owji this week said that the country aims ConocoPhillips for $9.5bn in cash.
to increase refining capacity while improving the Shell’s assets cover around 225,000 net acres
quality of refined products. (910.5 square km) and produce about 175,000
barrels of oil equivalent per day. ™

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