Page 22 - FSUOGM Week 42 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global GLNG: China Reportedly Seeks More US
(NRG), in which the reader is invited to join LNG
our team of international editors, who provide a Several Chinese energy firms are reported to
snapshot of some of the key issues affecting their be in talks to secure new long-term supplies
regional beats. We hope you will like NRG's new of LNG from the US as rising gas prices and
concise format, but by clicking on the headline domestic power shortages cause concerns
link for each section the full text will be available about gas supplies.
as before. Citing several sources familiar with the
matter, Reuters reported last week that the
AfrOil: Nigeria Establishes NNPC Ltd As “advanced” talks involved at least five Chi-
New NOC nese companies, including state-owned Sin-
Nigerian President Muhammadu Buhari has opec and China National Offshore Oil Corp.
issued an order authorising the incorporation of (CNOOC), as well as local government-backed
Nigerian National Petroleum Corp. Ltd (NNPC energy distributor Zhejiang Energy.
Ltd), in line with Section 53(1) of the recently
signed Petroleum Industry Act (PIA). This act LatAmOil: TotalEnergies Will Not Flare Gas
lays the groundwork for the new company to From Block 58
replace an existing state-run entity, Nigerian Patrick Pouyanné, the CEO of France’s
National Corp. (NNPC) as Nigeria’s national oil TotalEnergies, has said that his company will
company (NOC). not flare any of the associated gas contained
within its oilfields offshore Suriname.
AsianOil: Senex Attracts Multiple Takeover Speaking during the Energy Intelligence
Bids From POSCO Forum earlier this month, Pouyanné noted
Australian independent Senex Energy’s that the oil-rich sections of Block 58, which
continued success in boosting production TotalEnergies is developing in co-operation
has attracted an all-cash takeover bid from with US-based Apache, contained signifi-
South Korea’s POSCO International. cant volumes of associated gas. The company
Senex said on October 18 that POSCO will have to find a way to monetise this gas
had submitted a non-binding and indica- rather than burning it off and focusing solely
tive proposal to acquire all of the Australian on oil, he said.
developer’s stock for AUD4.40 ($3.29) per
share on September 2, valuing the company MEOG: Sakarya Award And Farzad-B Query
at AUD815mn ($608.5mn). In this week’s MEOG, we look at the award to
Schlumberger and Subsea 7 of a major con-
DMEA: Challenges And Progress tract offshore Turkey and Indian interest in
This week’s DMEA covers the outbreak of a work doled out to an Iranian firm.
fire at Kuwait’s second-largest refinery and US oilfield services specialist Schlum-
a contract award for a new refining unit in berger this week announced that it had been
Egypt. awarded a contract as part of a consortium
Downstream-focused Kuwait National by Turkish Petroleum (TPAO) for work on
Petroleum Co. (KNPC) reported an explo- the offshore Sakarya gas field.
sion and fire at the country’s Mina Al-Ah-
madi refinery which injured several workers NorthAmOil: Halliburton Narrowly Beats
but did not affect operations. Third-Quarter Earnings Estimates
Oilfield services giant Halliburton has
EurOil: EU Takes Aim At Russia’s Arctic Oil beaten analyst estimates with its third-quar-
And Gas Wealth ter results, which were announced this week. See the archive and
The EU has proposed a new Arctic strat- The company posted net income of $236mn, sign up to receive
egy which, if implemented, would prevent or $0.26 per share, for the quarter, up from a *NRG Editor’s Picks*
member states from acquiring oil and gas net loss of $17mn in the same quarter a year for free by email each
from the Russian Arctic. While Moscow has ago. The result also marked a slight increase week here
downplayed the impact of this move, it could on earnings of $227mn in the second quarter
undermine efforts to exploit trillions of dol- of 2021. Adjusted income of $0.28 per share,
lars of oil and gas in Russia’s far north, putting excluding special items, narrowly beat ana-
it on a political collision course with Brussels. lyst expectations of $0.27 per share.

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