Page 15 - AsianOil Week 46 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global higher as demand recovers. Rosneft’s EBITDA
(NRG), in which the reader is invited to join came in at $8.7bn (RUB638bn) in the three-
our team of international editors, who provide a month period, up 13% quarter on quarter, while
snapshot of some of the key issues affecting their net income rose by 38.7% to $4.3bn.
regional beats. We hope you will like NRG's new
concise format, but by clicking on the headline GLNG: Details disclosed of Cheniere’s LNG
link for each section the full text will be available supply deal with France’s Engie
as before. LEADING US LNG producer Cheniere
Energy struck a deal to supply the super-
AfrOil: Shell, Equinor resume talks on Tan- chilled fuel to France’s Engie earlier this year,
zania LNG project according to a letter to the US Department of
TANZANIA’S Energy Minister January Energy whose details have now been made
Makamba confirmed last week that his coun- public. The deal is notable because last year
try’s government had resumed talks with several Engie pulled out of talks over a potential sup-
international oil companies on the Tanzania ply deal with another US firm, NextDecade,
LNG project. Makamba made his announce- having reportedly come under pressure from
ment in a pair of Twitter posts dated November the French government not to buy LNG pro-
8 and said he expected this large-scale initiative duced from shale gas.
to benefit the country.
LatAmOil: ExxonMobil, SBM discussing
DMEA: Borouge expansion announced fourth FPSO for Stabroek
THIS week’s DMEA covers the expansion of Abu US-BASED ExxonMobil is reportedly in discus-
Dhabi’s key polyolefins plant and calls to cancel a sions with the Dutch contractor SBM Offshore
pipeline connecting the Red Sea to the Mediter- on the construction of a fourth floating produc-
ranean. Abu Dhabi National Oil Co. (ADNOC) tion, storage and off-loading (FPSO) vessel for
this week signed a $6.2bn investment agreement installation at the Stabroek block offshore Guy-
with Austria-based Borealis for the Borouge ana. Two sources close to the matter told Reu-
joint venture’s fourth facility in the UAE’s Ruwais ters last week that the parties had already begun
downstream hub. Meanwhile, Israeli Energy negotiations.
Minister Karine Elharrar this week called for
the cancellation on environmental grounds of MEOG: Eridu plans and Kuwait’s transition
a deal to develop an oil transmission project to THIS week’s MEOG looks at Lukoil’s plans
pipe Emirati oil from the Red Sea directly to the for a southern Iraqi oilfield and comments by
Mediterranean. Kuwait’s Oil Minister about the country’s energy
transition. Iraq’s Ministry of Oil said this week
EurOil: Germany hits back against nuclear that it has received a development plan for the
DISAGREEMENTS over which fuels the EU Eridu oilfield from Russia’s Lukoil, envisaging
should recognise as sustainable are heating up, peak production of 250,000 barrels per day.
with Germany and four other member states on Meanwhile, Kuwaiti Oil Minister Mohammed
November 11 warning against the inclusion of Al Fares this week repeated intentions to ramp
nuclear energy. In a joint statement issued by up oil production, though made some prelim-
the environment ministers of Germany, Den- inary comments about the country’s plans to
mark, Luxembourg, Austria and Portugal, the embark on the energy transition.
countries said that including nuclear power in
the proposed EU taxonomy would permanently NorthAmOil: Freeport LNG announces CCS
damage the regulation’s “integrity, credibility and plan amid news of stake sale
therefore its usefulness.” FREEPORT LNG Development announced this
week that it had executed a letter of intent with
FSUOGM: Sechin warns of energy “super Talos Energy to jointly develop a carbon capture
cycle” and storage facility to serve the Freeport lique-
RUSSIA’S state-owned Rosneft followed other faction terminal on the Texas Gulf Coast. The
oil and gas majors in reporting a surge in profits announcement about the FLNG CCS project
in the third quarter on the back of higher prices, came a day after Global Infrastructure Partners
with its CEO Igor Sechin predicting a “super said that it was selling its 25.7% stake in Freeport
cycle” in energy markets would drive prices to Japan’s JERA for $2.5bn.™

Week 46 19•November•2021 www. NEWSBASE .com P15