Page 14 - EurOil Week 38 2021

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global GLNG: US Manufacturers Call For LNG Re-
(NRG), in which the reader is invited to join strictions
our team of international editors, who provide a A major trade group in the US has urged the
snapshot of some of the key issues affecting their government to take steps to curtail the coun-
regional beats. We hope you will like NRG's new try’s LNG exports, warning of high domestic
concise format, but by clicking on the headline prices and potentially shortages later this year.
link for each section the full text will be available The request revives a decade-long dispute over
as before. the economic benefits of rising LNG exports
and the impact that they have on the domes-
AfrOil: Nigeria Establishes NNPC Ltd As tic industry that depends on low-cost gas for
New NOC power and feedstock.
Nigerian President Muhammadu Buhari has Industrial Energy Consumers of Amer-
issued an order authorising the incorporation of ica (IECA), representing chemical, food and
Nigerian National Petroleum Corp. Ltd (NNPC materials manufacturers with some $1 trillion
Ltd), in line with Section 53(1) of the recently in combined annual sales, warned in a letter to
signed Petroleum Industry Act (PIA). This act US Energy Secretary Jennifer Granholm that
lays the groundwork for the new company to “US consumers, the health of the economy,
replace an existing state-run entity, Nigerian and national security should take priority over
National Corp. (NNPC) as Nigeria’s national oil LNG export profits.
company (NOC).
LatAmOil: BpTT Brings Matapal Field On
AsianOil: Strike Completes Pre-FEED At Stream Ahead Of Schedule
WA Ammonia Project BP Trinidad and Tobago (bpTT), a subsidiary of
Australian natural gas developer Strike Energy BP (UK), revealed on September 20 that it had
has completed a pre-front-end engineering and begun extracting natural gas from the Matapal
design (pre-FEED) study on an ammonia and field offshore Trinidad and Tobago. In a state-
urea manufacturing facility development in ment, bpTT said it had succeeded in bringing
Western Australia. Matapal on stream seven months ahead of
Strike said on September 20 that interna- schedule, despite the challenges posed by the
tional oil and gas services provider Technip global coronavirus (COVID-19) pandemic. The
Energies’ seven-month plant study had resulted field is now ramping up to its initial production
in a 6% reduction in capital estimates compared rate of 250-350mn cubic feet (7.08-9.91mn
with feasibility study estimates from January. cubic metres) per day of gas, it reported.

DMEA: Saudis In South Sudan Supply Talks MEOG: Iraq Moves To Capture Gas
This week’s DMEA looks at talks between This week’s MEOG looks at efforts by Iraq to
Saudi Aramco and South Sudan over oil capture and utilise associated gas, while its
product supplies and the ongoing resump- state oil marketer said it is yet to receive any
tion of protests at Libyan oil terminals. oil volumes from the Kurdistan region.
South Sudan is expected to agree terms Baker Hughes this week agreed a deal
with Saudi Aramco on the long-term sup- with the Ministry of Oil to capture up to
ply of oil derivatives following the recent 200mn cubic feet (5.7mn cubic metres) per
signing of a memorandum of understand- day of gas from the Nassiriyah and Gharraf
ing (MoU). oilfields in Dhi Qar Governorate.

FSUOGM: Gazprom Under Fire NorthAmOil: ConocoPhillips Snaps Up
The widely circulated narrative in the media Shell’s Permian Assets
is that Russia is to blame for record-high gas Royal Dutch Shell has agreed to sell its port-
and power prices in Europe. But in reality, the folio of shale assets in the US’ Permian Basin
current situation has been caused in large part to ConocoPhillips for $9.5bn in cash. See the archive and
by serious shortcomings in European energy Shell’s assets cover around 225,000 net sign up to receive
policy. acres (910.5 square km) and produce about *NRG Editor’s Picks*
Gas price futures for October at the Dutch 175,000 barrels of oil equivalent per day for free by email each
TTF hub hit $950 per 1,000 cubic metres on (boepd). The Anglo-Dutch super-major said week here
September 15 – an all-time high at a time of on September 20 that after having reviewed
year when markets are typically subdued. “multiple strategies and portfolio options”
Demand is recovering and supply remains for the assets, the ConocoPhillips deal
restricted, while gas storage levels in Europe had emerged as the most compelling value
remain low. proposition.

P14 www. NEWSBASE .com Week 38 23•September•2021