Page 17 - EurOil Week 23 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global GLNG: Excelerate FSRU Comes Online Off-
(NRG), in which the reader is invited to join shore Argentina
our team of international editors, who provide a Excelerate Energy announced last week that its
snapshot of some of the key issues affecting their Exemplar floating storage and regasification
regional beats. We hope you will like NRG's new unit (FSRU) had started operations offshore
concise format, but by clicking on the headline the Argentine port of Bahia Blanca. This brings
link for each section the full text will be available Argentina’s LNG import facilities to two, with
as before. another Excelerate FSRU already stationed at
Escobar since 2011.
AfrOil: Savannah Seeks ExxonMobil Assets
In Chad, Cameroon LatAmOil: USTDA Grant Funds LNG-To-Pow-
UK-based Savannah Energy is looking to acquire er Study
a package of upstream and midstream assets in US-based Black & Veatch will conduct a fea-
Chad and Cameroon from ExxonMobil (US). sibility study of the Andes Energy Terminal
In a statement, Savannah said it was in (AET) project, an LNG-to-power scheme that
“advanced exclusive discussions” with the US will serve central and south-western Colom-
super-major on the deal, which covers Exxon- bia. The costs of the study will be covered by
Mobil’s entire portfolio in the two countries. a grant from the US Trade and Development
The parties are focusing on a proposal for the Agency (TDA).
acquisition of a 40% stake in the Doba oil pro- Under the contract, Black & Veatch will
ject in Chad, which yielded about 33,700 bar- carry out commercial, engineering and
rels per day of oil in 2020, and an effective 40% technical studies on the establishment of an
interest in the 225,000 bpd Chad-Cameroon oil LNG import terminal and a 400-MW natu-
pipeline. ral gas-fired thermal power plant (TPP) on
the Aguadulce Peninsula near the port of
AsianOil: Japanese Developers To Boost Buenaventura.
Oil, Gas Production With CCS
Japanese developers are studying the use of MEOG: Aramco Bond And Turkish Gas
carbon capture and storage (CCS) technology This week’s MEOG covers Saudi Aramco’s
in domestic upstream projects as they strive to latest bond issue and another major gas
boost output while also reducing emissions. announcement by Turkey.
Inpex has teamed up with state-affiliated State-owned Aramco hired a group of
Japan Oil, Gas and Metals National Corp. (JOG- banks to advise on and arrange its first US
MEC) to implement a carbon dioxide (CO2) dollar-denominated sukuk, with Reuters
enhanced oil recovery (EOR) pilot test at the reporting that a target of $5bn has been set.
Minami-aga oilfield in Niigata Prefecture, they According to the bond prospectus, funds
revealed in a joint statement on June 4. raised will be used for general corporate
purposes. However, while financial pressure
DMEA: Egyptian Petchems And Nigerian associated with the company’s $75bn per
Urea year dividend commitment has eased along
This week’s DMEA looks at the start of construc- with the recent oil price recovery, the funds
tion on Egypt’s new petrochemical facility and at are likely to be used in part to cover a portion
Nigeria’s Dangote Group beginning commercial of Aramco’s upcoming quarterly $18.75bn
urea production. payment.
Egyptian Prime Minister Mostafa Madbouly
this week attended a ground-breaking ceremony NorthAmOil: Consolidation Wave Shows
for the start of construction on a new $7.5bn pet- No Signs Of Slowing
rochemical facility in the Suez Canal Economic The wave of consolidation sweep-
Zone (SCZone) in Ain Sokhna. ing the US oil and gas industry shows
no sign of slowing, with yet more new
FSUOGM: Energy Transition Takes Centre deals announced in recent days by shale See the archive and
Stage At SPIEF producers. sign up to receive
The energy transition took centre stage at the Civitas Resources, which itself is cur- *NRG Editor’s Picks*
St Petersburg International Economic Forum rently in the process of being formed through for free by email each
on June 3-5, with the event resulting in a raft the merger of Bonanza Creek Energy and week here
of deals between Russian and international Extraction Oil & Gas, has agreed this week
companies aimed at tackling emissions. to acquire Crestone Peak Resources. Sepa-
Russia has promoted SPIEF as the “largest rately, KKR & Co.’s Independence Energy
post-pandemic meeting,” estimating ahead of announced that it has agreed to merge with
the event that 5,000 delegates would attend. Contango Oil & Gas.™

Week 23 10•June•2021 www. NEWSBASE .com P17