Page 18 - AfrOil Week 41 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global contract for November gas delivery at the Dutch
(NRG), in which the reader is invited to join TFF platform briefly soared to almost $2,000 per
our team of international editors, who provide a 1,000 cubic metres in the early hours of trading,
snapshot of some of the key issues affecting their before sliding back down around $1,700.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: PNG government wants bigger
link for each section the full text will be available stake in PNG LNG
as before. The government of Papua New Guinea (PNG)
has said that it would want to up its stake in the
AsianOil: ENN seals long-term LNG supply PNG LNG project if the proposed takeover
deal with Cheniere of Oil Search by Santos goes ahead. Under the
Chinese utility ENN Natural Gas has signed proposed deal, Santos will acquire Oil Search’s
a new long-term liquefied natural gas sup- interest in PNG LNG, making it the biggest sin-
ply agreement with the US’ Cheniere Energy. gle shareholder in the project, which is operated
The Chinese company said on October 11 that by ExxonMobil, with a 42.5% stake.
Cheniere had agreed to supply 900,000 tonnes
per year of the fuel for 13 years from July 2022 on LatAmOil: Indigenous protest halts ONP
a free-on-board basis. pipeline flows
A group of indigenous Peruvians took over the
DMEA: Ruwais cancellation and another facilities of Pump Station #5 along the North-
IPO ern Oil Pipeline (ONP) last week, in an act that
State-owned Abu Dhabi National Oil Co. forced state-owned Petroperu, the owner of
(ADNOC) this week has said that it will no ONP, to halt crude shipments. In a statement,
longer proceed with a major expansion of its Petroperu said it had taken this step after resi-
downstream hub at Ruwais, citing a lack of com- dents of the northern Loreto region seized con-
mercial attractiveness. Meanwhile, Saudi Ara- trol of the pumping station on October 4.
mco is continuing its asset monetisation strategy,
with reports suggesting it is once again prepar- MEOG: New targets and rebranding
ing to follow the lead of regional competitor Iraq’s Ministry of Oil believes it is nearing the
ADNOC with the listing of a share in its fuel arm. conclusion of talks with IOCs developing its
major oilfields regarding efforts that will increase
EurOil: Repsol sets 2030 clean energy the country’s oil production to 8mn barrels per
target day by 2027. Meanwhile, state-owned Qatar
Spanish energy group Repsol has announced it Petroleum (QP) is in the process of rebranding as
is increasing its 2030 target for renewable energy QatarEnergy in a nod to a strategic shift to focus
capacity by 60%, while also setting new targets to on more environmentally friendly operation.
limit the emissions from its oil and gas business.
Repsol was the first major oil and gas producer to NorthAmOil: Chevron to aim for net zero
aim for net-zero emissions by 2050. by 2050
Chevron announced this week that it would pur-
FSU OGM: European gas prices slide back sue net-zero greenhouse gas emissions by 2050.
after Putin comments The company described the target as an “aspira-
Natural gas prices in Europe took a dive on tion,” and while it fell short of the more aggres-
the afternoon of October 6, after Russian Pres- sive net-zero goals set by European rivals such as
ident Vladimir Putin hinted that Gazprom Royal Dutch Shell and BP, it marks the first such
might release more supply onto the market. The move by one of the two US super-majors. ™

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P18 www. NEWSBASE .com Week 41 13•October•2021