Page 18 - AsianOil Week 47 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global pre-emptive right for a 37.5% stake in the refin-
(NRG), in which the reader is invited to join ery, bolstering its share to 91.7%.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: LNG trade booms ahead of winter
regional beats. We hope you will like NRG's new THE global LNG trade is booming ahead of the
concise format, but by clicking on the headline Northern Hemisphere winter. The leading buy-
link for each section the full text will be available ers in the world – China, Japan and South Korea
as before. – are ramping up imports this month, while in
the US, LNG exports have reached record highs.
AfrOil: TotalEnergies ready to invest billions The boom in US LNG exports provided some
in Libyan projects relief to buyers in Europe, who face competi-
TOTALENERGIES (France) has announced tion from Asia as they scramble to replenish gas
plans to invest billions of dollars in Libya’s oil stockpiles ahead of the winter.
industry. According to Patrick Pouyanné, the
company’s CEO, the French major is ready LatAmOil: Braskem Idesa JV reports US
to support efforts to increase production and ethane imports up in September
intends to pump $2bn into the Waha oilfields. BRASKEM Idesa (BI), the Brazilian-Mexican
joint venture that owns the Nanchital petro-
DMEA: Downstream deals and progress chemical complex in Veracruz State, saw ethane
THIS week’s DMEA covers the breakdown of import volumes climb to an all-time high in
talks on a downstream mega deal and progress September of this year. According to an interim
developing the final South Pars gas refinery. report from Braskem, the Brazilian partner in
Saudi Aramco and India’s Reliance Industries the joint venture, BI imported 22,400 barrels
Ltd called off a major downstream deal following per day of ethane from the US in the month of
years of talks, but the Saudi firm wasted no time September.
in opening discussions with another Indian state
giant for crude offtake. Meanwhile, the National MEOG: A flurry of contract awards
Iranian Oil Co. said that it expects to bring the IN this week’s MEOG we cover contract awards
first gas sweetening train of the South Pars devel- in Turkey and the UAE as developers seek to
opment project’s final refining phase into opera- make progress on major gas projects. Italian
tion in January 2022. engineering, procurement and construction
specialist Saipem was awarded a deal by Turk-
EurOil: Shell leaves the Netherlands ish Petroleum (TPAO) to lay a 175-km pipe-
ROYAL Dutch Shell has announced unexpect- line tying back the offshore Sakarya gas field to
edly on November 15 it would be moving its tax the Turkish mainland. Meanwhile, Abu Dhabi
residency from the Netherlands to the UK, while National Oil Co. (ADNOC) last week awarded
also simplifying its shareholder structure. The $1.46bn worth of EPC deals for the development
company will also move its head office to the UK, of the offshore Dalma gas field.
and hold board and committee meetings there.
NorthAmOil: US confirms co-ordinated
FSUOGM: Rosneft expands in German re- SPR release
fining THE move will be co-ordinated with China,
RUSSIAN oil giant Rosneft has announced India, South Korea, Japan and the UK in a bid
it is expanding its German refining footprint to provide relief from oil prices that recently
through the purchase of Royal Dutch Shell’s reached their highest level in seven years. The
minority stake in the 230,000 barrel per day PCK initiative comes after the OPEC+ group has
Schwedt refinery in the country’s north-east. ignored repeated calls to reduce crude prices by
Rosneft said on November 17 it had exercised its releasing more oil into the market.™

P18 www. NEWSBASE .com Week 47 26•November•2021