Page 15 - NorthAmOil Week 44 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global elsewhere in Europe. Miller was discussing the
(NRG), in which the reader is invited to join situation on the gas market in a meeting with
our team of international editors, who provide a Russian President Vladimir Putin, where the two
snapshot of some of the key issues affecting their men noted that European gas storage utilisation
regional beats. We hope you will like NRG’s new was at an unusually low level for this time of year,
concise format, but by clicking on the headline link and that Gazprom’s own storage sites on the con-
for each section the full text will be available as tinent contain only 190,000 cubic metres of gas.
before.
GLNG: Saipem sees Mozambique LNG pro-
AfrOil: Former Sonangol director pessimis- ject restarting in mid-2022
tic about local content Italian energy services provider Saipem said on
Angola’s government has made a number of October 28 that it expects work on the Mozam-
efforts to increase local content in oil and gas bique LNG project, which was put on hold this
projects involving international oil companies, year for security reasons, to restart around mid-
but its approach has had only limited effect, 2022. During a conference call with analysts,
according to a former director of the national oil Saipem’s chief financial officer, Antonio Pacioretti,
company Sonangol. Arnaldo Lago de Carvalho, indicated that he did not expect the project to
a businessman who previously served on Sonan- make any significant contributions to his compa-
gol’s board of directors, said last week that he saw ny’s performance in 2021.
the NOC itself as the biggest obstacle to increas-
ing local content in oil and gas projects. LatAmOil: ExxonMobil’s third disappoint-
ment at Canje block
AsianOil: Santos, Beach reach FID on Esso Exploration & Production Guyana Ltd
Moomba CCS (EEPGL), a subsidiary of ExxonMobil, has
Santos and Beach Energy have reached a final reportedly completed its third exploration well
investment decision on their $165mn Moomba at the Canje block offshore Guyana without
carbon capture and storage project in South discovering commercial hydrocarbon reserves.
Australia. Santos said on November 1 that the According to JHI Associates, a non-operating
project, which it operates with a 66.7% interest partner in the Canje project, the Sapote-1 well
while Beach holds the remainder, was slated to was drilled in 2,549-metre-deep water and sunk
start up in 2024. to a total depth of 6,758 metres.

DMEA: Zarqa expansion and Duqm update MEOG: Aramco results and Iraq deals
This week’s DMEA covers the submission of bids This week’s MEOG includes Aramco’s Q3 results
for the expansion of Jordan’s sole refinery and an announcement and plans for deals between
update on the timeline for Oman’s Duqm refin- Baghdad and Riyadh. Saudi Aramco this week
ery. Jordan Petroleum Refinery Co. (JoPetrol) announced its Q3 results which were highlighted
this week announced that it had received bids by $30.4bn in net income, up 158% compared to
from engineering firms for a contract to expand the same period last year, taking it back to top
the country’s Zarqa refinery under the so-called spot as the world’s most profitable company.
Project Petra. In other news, Oman’s flagship Meanwhile, Iraqi Oil Minister Ihsan Abdul Jab-
Duqm refinery is now on course for commis- bar this week said that the government intends to
sioning during the first quarter of 2023, with sign billions of dollars worth of gas, renewables,
project completion now having reached 87%. water and petrochemicals deals with Saudi Ara-
bia before the end of its term.
EurOil: Shell resists break-up call
Royal Dutch Shell has rejected a call by an activ- NorthAmOil: North American producers
ist shareholder to break up the oil major, argu- report improved performances on higher
ing that the company works better as a united prices
entity. Third Point, owned by billionaire activist The earnings season is in full swing, and a
investor Daniel Loeb, has accumulated a stake growing number of North American produc-
valued at nearly $750mn in Shell, and is seeking ers is reporting stronger performances thanks
its break-up. to commodity prices being at multi-year highs.
Among those reporting stronger performances
FSUOGM: Gazprom stockpiling domesti- are super-majors Chevron and ExxonMobil,
cally which posted their highest quarterly profits in
Russia’s Gazprom expects to finish stockpiling years.
gas at its Russian storage sites on November 8,
CEO Alexei Miller said on October 27, after See the archive and sign up to receive NRG Editor’s
which it will shift its focus to filling its sites Picks for free by email each week here.™

Week 44 04•November•2021 www. NEWSBASE .com P15