Page 13 - EurOil Week 14 2021

EurOil NEWS IN BRIEF EurOil

PKN Orlen recommends announced the price cap, Aktas said that the award of a new contract to provide
On March 16, a day before the EPDK
integrated facility services across the
dividend payout of PLN3.5 the special consumption tax on liquified company’s North Sea assets.
petroleum gas (LPG) prices drew almost
With the award of a five-year integrated
per share zero while the government had lost around facilities services agreement, Wood will
focus on supporting TAQA’s operations
Turkish lira (TRY) 4bn in tax revenues on
Poland’s state-controlled refiner PKN Orlen fuel sales since September.. across the Cormorant Alpha, North
plans to pay its shareholders a dividend of Cormorant, Eider Alpha, Harding, Tern
PLN3.5 (€0.76) per share, the Warsaw-listed Alpha, Brae Alpha, and East Brae assets,
company said on April 6. LIQUIND Marine, GasCom the company said in a statement on April
The payout proposal by the company’s 5.
management board – to be carried out in secure Greenferry 1 LNG Craig Shanaghey, Wood’s President
August following approval by a meeting of for Operations across Europe, Middle
the shareholders – would mark a return to bunkering job East, and Africa said: “We are delighted
the record-high dividend from 2018. The to be able to continue our long-standing
dividend for 2019 was just PLN1 per share. German LNG fueling network developer relationship with TAQA following the
“The amount [of the dividend] reflects a LIQUIND Marine and its compatriot award of this new contract.
stable financial situation of the company,” GasCom have been selected for the supply of “We are proud to have worked with
Orlen said in a statement. LNG to Germany’s largest ferry. TAQA since 2008 and see excellent
Orlen posted a consolidated net profit of The respective cooperation agreement has opportunity, with the addition of the Brae
PLN3.38bn in 2020, including impairment recently been signed with the ferry operator Alpha and East Brae assets, to deliver a
losses on assets and profit off the purchase of Elbferry, LIQUIND said in its statement. fully integrated facility services model”.
power utility Energa, the company said in a The ferry Greenferry 1, which was Wood’s previous contract extension with
market filing. previously in operation in Norway, TAQA was awarded back in September
“We achieved very solid results in 2020 commutes several times per day between the 2019.
despite the unfavourable macroeconomic ports of Cuxhaven and Brunsbüttel, thereby The extension was for the duration
environment caused by the pandemic. closing an important infrastructure gap of 18 months, covering the Cormorant
The key to success in the fuel and energy along the North Sea coast while enabling the Alpha, Eider, Tern, North Cormorant, and
industry [was] the diversification of business crossing of the Elbe River in less than one subsequently Harding offshore assets.
areas,” Orlen’s CEO Daniel Obajtek said in a hour, the statement reads. TAQA has recently made plans to
statement. Christian Strahlmann, managing director reduce its exposure to the hydrocarbons
Orlen’s net result was indeed down 20% at Elbferry, said, “By appointing LIQUIND sector and for renewables to make up 30
– or over PLN900mn – compared to 2019 Marine and GasCom for organizing per cent of its portfolio by 2030 as part of
because of the impact of the COVID-19 the LNG supply chain and conducting its energy transition push.
(coronavirus) pandemic. The economic regular bunkering operations, we can put TAQA’s Strategic Plan 2020 envisions
standstill exacted by the coronavirus reduced our commitment towards progressive for the company to focus on commercially
the company’s sales by PLN25bn. environmentally friendly technologies into viable opportunities to reduce exposure to
The dividend will cost Orlen a total of practice.“ the hydrocarbon sector.
around PLN1.5bn, the company also said. Based on current demand, the supply for It is also worth mentioning that, back
Orlen’s stock rose 3.12% to PLN66.2 the ferry can be conducted on both ends in March 2021, TAQA awarded Odfjell
per share at the end of the day’s trading of the service route. The LNG is supplied Drilling a five-year contract in the UK
on the Warsaw Stock Exchange on April 6. with several trucks per week and the ferry for the provision of platform drilling &
Year-to-date, the company’s share price has bunkering is done through special parallel maintenance services on its North Sea
grown 14.69% while growth in the past 12 unloading equipment, which reduces the installations.
months has been 5.48%. Orlen’s market cap time needed to unload a truck to less than
is PLN28.3bn. one hour.
The two companies have already Gasnor to provide LNG to
completed the first LNG bunkering
Turkey’s energy watchdog operation of the Greenferry 1, at Brunsbüttel Ulvan Rederi’s newbuild
Port in early March.
and fuel retailers head for with 112.5 cubic meter capacity each. It also Norwegian natural gas supplier Gasnor
The Greenferry I features two LNG tanks
has signed a 5-year agreement to supply
court over price cap has the capacity to ferry up to 212 cars and LNG to Oddrun With, Ulvan Rederi’s new
hybrid vessel.
28 trucks and 600 passengers.
Turkey’s energy watchdog EPDK on March 17 Gasnor to supply LNG to Ulvan Rederi’s
introduced a price cap on gasoline and diesel newbuilt
for two months. Previously, the EPDK capped Wood secures a five-year Ulvan Rederi is building Oddrun With,
prices in 2009, 2014 and 2015. a multi-purpose cargo vessel with a hybrid
Fesih Aktas, head of fuel retailers contract at Taqa’s North Sea propulsion system that includes LNG
association EPGIS, reacted to the cap by engines and battery. The vessel is set to
saying that the organisation would sue the operations carry out operations for the aquaculture
EPDK. industry and general freight in Norway,
Fluctuations in oil prices have been Global consulting and engineering from Tromsø to Moss.
absorbed within tax margins applied to fuel company Wood will build upon its 12- The ship is being constructed at the
prices on the domestic market. year relationship with TAQA following Tersan shipyard in Turkey, with planned

Week 14 08•April•2021 www. NEWSBASE .com P13