Page 14 - FSUOGM Week 24 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global reduce the net carbon intensity of its prod-
(NRG), in which the reader is invited to join ucts by 6-8% by 2023, 20% by 2030, 45% by
our team of international editors, who provide a 2035 and 100% by 2050, using its emissions in
snapshot of some of the key issues affecting their 2016 as a baseline. However, the court in The
regional beats. We hope you will like NRG's new Hague ruled that the Anglo-Dutch major’s
concise format, but by clicking on the headline policy on climate was “not concrete and is full
link for each section the full text will be available of conditions ... that’s not enough.”
as before.
GLNG: IOCs Reportedly Bid To Participate In
AfrOil: McDermott, Sinopec On Track To Qatar’s LNG Expansion
Win $2bn Ugandan Contract Six leading international oil companies (IOCs)
US-based McDermott International has joined have reportedly submitted bids to participate in
forces with Sinopec International Petroleum Qatar’s giant LNG expansion project.
Service Corp. (SIPSC), a subsidiary of China’s Citing industry sources familiar with the
Sinopec, to provide support services at the matter, Reuters reported that the companies had
Tilenga oilfield in Uganda. The consortium submitted bids for participation in the nearly
partners have received a conditional letter of $30bn expansion project on May 24.
award (LoA) from TotalEnergies (France), the
operator of Tilenga, and hope to sign a contract LatAmOil: Trinidad And Tobago Eyes Green
once all the shareholders in the upstream pro- Hydrogen Production
ject reach agreement. Trinidad and Tobago is looking into the pos-
sibility of diversifying into hydrogen produc-
AsianOil: Australian Government Backs tion, Prime Minister Keith Rowley said last
Oil, Gas Sector week.
Australian Prime Minister Scott Morrison has In an opening address for a conference
pledged that the oil and gas sector will “always” hosted by the Trinidad and Tobago Energy
be a pillar of the economy, even as domestic Chamber, Rowley pointed out hydrogen fuel
investment in clean energy alternatives grows. could play an important role in reducing car-
Morrison, during a video address to Aus- bon emissions. To this end, he said, various
tralian Petroleum Production and Exploration government agencies are examining propos-
Association’s (APPEA) annual conference in als for promoting green hydrogen production.
Perth on June 15, said: “The oil and gas sector
is a major contributor to Australia’s prosperity MEOG: Aramco Deal And TAQA Interest
– always has, will always be.” In this week’s MEOG, Gulf deal making con-
tinues to garner attention, with Saudi Ara-
DMEA: Iraq Refining And Gwadar Cancel- mco completing a $6bn sukuk and Chinese
lation interest in the UAE’s TAQA.
In DMEA this week, we look at the progress Aramco last week raised $6bn via its first
made by Iraq on improving its refining sector dollar-denominated sukuk in three tranches,
and Saudi Arabia’s decision to move a planned attracting orders with a combined value of
refinery in Pakistan. more than $60bn as it surpassed the reported
Iraq’s Ministry of Oil announced the partial sukuk target of $5bn. The funds are likely to
rehabilitation of the Salah al-Din refinery and be used in part to cover a portion of Aram-
completion of projects to increase fuel output. co’s upcoming quarterly $18.75bn payment.
During a visit to the Doura refinery near Bagh-
dad, Oil Minister Ihsan Abdul Jabbar spoke NorthAmOil: Consolidation Wave Shows
of intentions to cut the government’s gasoline No Signs Of Slowing
import bill by up to 50% by the end of the year The wave of consolidation sweeping the US
as part of a wider plan to end imports of the fuel oil and gas industry shows no sign of slow-
by 2023, backed by new and upgrade projects in ing, with yet more new deals announced in
the refining sector. recent days by shale producers. See the archive and
Civitas Resources, which itself is cur- sign up to receive
EurOil: Shell Reacts To Dutch Ruling rently in the process of being formed through *NRG Editor’s Picks*
Royal Dutch Shell will fast-track its energy the merger of Bonanza Creek Energy and for free by email each
transition strategy, CEO Ben van Beurden Extraction Oil & Gas, has agreed this week week here
announced on June 10, after a bombshell rul- to acquire Crestone Peak Resources. Sepa-
ing by a Dutch court last month. rately, KKR & Co.’s Independence Energy
Shell set some of the most ambitious targets announced that it has agreed to merge with
in the oil industry earlier this year, vowing to Contango Oil & Gas.™

P14 www. NEWSBASE .com Week 24 16•June•2021