Page 16 - MEOG Week 42 2021

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global to exploit trillions of dollars of oil and gas in Rus-
(NRG), in which the reader is invited to join sia’s far north, putting it on a political collision
our team of international editors, who provide a course with Brussels.
snapshot of some of the key issues affecting their
regional beats. FSUOGM: Nord Stream 2 declared ready
We hope you enjoy NRG’s new concise for- Russia has finished filling the first string of the
mat, but by clicking on the headline link for each Nord Stream 2 with natural gas, meaning that
section the full text will be available as before. the pipeline is now technically ready to operate.
But there is still no clarity on when the pipe-
AfrOil: Nigeria establishes NNPC Ltd line will start pumping commercial volumes of
As New NOC Nigerian President Muhammadu gas to Europe, as first it must be certified by Ger-
Buhari has issued an order authorising the incor- man regulators.
poration of Nigerian National Petroleum Corp.
Ltd (NNPC Ltd), in line with Section 53(1) of the GLNG: China seeking more US LNG
recently signed Petroleum Industry Act (PIA). Several Chinese energy firms are reported to
This act lays the groundwork for the new be in talks to secure new long-term supplies
company to replace an existing state-run entity, of LNG from the US as rising gas prices and
Nigerian National Corp. (NNPC) as Nigeria’s domestic power shortages cause concerns about
national oil company (NOC). gas supplies.
Citing several sources familiar with the
AsianOil: Senex attracts bids from POSCO matter, Reuters reported last week that the
Australian independent Senex Energy’s contin- “advanced” talks involved at least five Chinese
ued success in boosting production has attracted companies, including state-owned Sinopec and
an all-cash takeover bid from South Korea’s China National Offshore Oil Corp. (CNOOC),
POSCO International. as well as local government-backed energy dis-
Senex said on October 18 that POSCO had tributor Zhejiang Energy.
submitted a non-binding and indicative pro-
posal to acquire all of the Australian developer’s LatAmOil: No flaring at Suriname block 58
stock for AUD4.40 ($3.29) per share on Sep- Patrick Pouyanné, the CEO of France’s TotalEn-
tember 2, valuing the company at AUD815mn ergies, has said that his company will not flare
($608.5mn). any of the associated gas contained within its
oilfields offshore Suriname.
DMEA: Challenges and progress Speaking during the Energy Intelligence
This week’s DMEA covers the outbreak of a fire Forum earlier this month, Pouyanné noted
at Kuwait’s second-largest refinery and a contract that the oil-rich sections of Block 58, which
award for a new refining unit in Egypt. TotalEnergies is developing in co-operation
Downstream-focused Kuwait National with US-based Apache, contained significant
Petroleum Co. (KNPC) reported an explosion volumes of associated gas.
and fire at the country’s Mina Al-Ahmadi refin-
ery which injured several workers but did not NorthAmOil: Halliburton beats estimates
affect operations. Oilfield services giant Halliburton has beaten
analyst estimates with its third-quarter results,
EurOil: EU takes aim at Russian Arctic which were announced this week.
The EU has proposed a new Arctic strategy The company posted net income of $236mn,
which, if implemented, would prevent member or $0.26 per share, for the quarter, up from a net
states from acquiring oil and gas from the Rus- loss of $17mn in the same quarter a year ago. The
sian Arctic. While Moscow has downplayed the result also marked a slight increase on earnings
impact of this move, it could undermine efforts of $227mn in the second quarter of 2021.™

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