Page 15 - DMEA Week 50 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global the border of Russia and Ukraine.
(NRG), in which the reader is invited to join The January gas delivery contract at the
our team of international editors, who provide a Dutch TTF hub was up nearly 7% in early trad-
snapshot of some of the key issues affecting their ing on December 13 at €113 ($127) per MWh.
regional beats.
We hope you enjoy NRG’s new concise for- GLNG: Excelerate begins Bahia deliveries
mat, but by clicking on the headline link for each Royal Dutch Shell suspended operations at its
section the full text will be available as before. Prelude floating LNG facility offshore Western
Australia after a fire broke out on the vessel last
AfrOil: Ugandan MPs approve EACOP bill week. Media cited company spokespersons as
Uganda moved one step closer towards launch- saying that smoke in an electrical utility area had
ing commercial hydrocarbon production last triggered the automatic fire detection and man-
week, when members of Parliament approved a agement system at the facility on December 2,
bill designed to facilitate the construction of the allowing the fire to be contained.
East African Crude Oil Pipeline (EACOP).
Legislators debated all sections of the draft LatAmOil: Aruba LNG terminal deal agreed
law, known as the EACOP Special Provisions US-based Eagle LNG Partners has struck an
Bill 2021, on December 8. agreement with WEB Aruba, the national water
and power provider of Aruba, on the construc-
AsianOil: Senex agrees to Posco takeover tion of an LNG regasification terminal at the site
Australia’s Senex Energy has agreed to be of an existing oil refinery in San Nicolas.
acquired by Posco International, the trading The agreement provides for the parties to
arm of South Korean steelmaker Posco, for work together to build an LNG import and
AUD852.1mn ($606.8mn). regasification facility at the Refineria di Aruba
Senex approved the deal after Posco raised (RdA) plant, which has been idle for some time.
its offer for a third time, to AUD4.60 ($3.30) per
share. MEOG: Iraq turns to Majnoon
In this week’s MEOG, we look at Iraq’s plans to
EurOil: Shell vote backs London move ramp up output from one of its biggest fields as it
Shareholders at Shell have overwhelmingly chases down its ambitious oil production target.
backed plans to relocate the company’s head- Oil Minister Ihsan Abdul Jabbar this week
quarters and tax residence from the Netherlands attended a ceremony at the Majnoon oilfield and
to the UK, as well as make changes to the Anglo- expressed optimism about the asset’s future as
Dutch major’s shareholder structure. the country seeks to drive a significant increase
The move to London will involve the reloca- in national oil production.
tion of CEO Ben van Beurden and CFO Jessica
Uhl, and Shell’s board and executive committee NorthAmOil: Oilsands firms up spending
meetings will also take place in the UK from now Canadian oil sands giants Suncor Energy and
on. Cenovus Energy have both said that they intend
to raise their capital expenditure and production
FSUOGM: Euro gas prices continue climb in 2022.
Europe could face rolling blackouts and heating The moves appear to be a bet that oil prices
outages this year if the worst predictions are to will continue to recover from last year’s lows, to
be believed, amid worryingly low levels of stor- which they crashed following the onset of the
age, supply constraints and escalating tensions at coronavirus (COVID-19) pandemic.™

See the archive and sign up to
receive *NRG Editor’s Picks* for
free by email each week here

Week 50 16•December•2021 www. NEWSBASE .com P15