Page 18 - DMEA Week 42 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global gas to Europe, as first it must be certified by Ger-
(NRG), in which the reader is invited to join man regulators.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: China seeking more US LNG
regional beats. Several Chinese energy firms are reported to
We hope you enjoy NRG’s new concise for- be in talks to secure new long-term supplies
mat, but by clicking on the headline link for each of LNG from the US as rising gas prices and
section the full text will be available as before. domestic power shortages cause concerns about
gas supplies. Citing several sources familiar with
AfrOil: Nigeria establishes NNPC Ltd the matter, Reuters reported last week that the
As New NOC Nigerian President Muhammadu “advanced” talks involved at least five Chinese
Buhari has issued an order authorising the incor- companies, including state-owned Sinopec and
poration of Nigerian National Petroleum Corp. China National Offshore Oil Corp. (CNOOC),
Ltd (NNPC Ltd), in line with Section 53(1) of the as well as local government-backed energy dis-
recently signed Petroleum Industry Act (PIA). tributor Zhejiang Energy.
This act lays the groundwork for the new
company to replace an existing state-run entity, LatAmOil: No flaring at Suriname block 58
Nigerian National Corp. (NNPC) as Nigeria’s Patrick Pouyanné, the CEO of France’s TotalEn-
national oil company (NOC). ergies, has said that his company will not flare
any of the associated gas contained within its
AsianOil: Senex attracts bids from POSCO oilfields offshore Suriname.
Australian independent Senex Energy’s contin- Speaking during the Energy Intelligence
ued success in boosting production has attracted Forum earlier this month, Pouyanné noted
an all-cash takeover bid from South Korea’s that the oil-rich sections of Block 58, which
POSCO International. TotalEnergies is developing in co-operation
Senex said on October 18 that POSCO had with US-based Apache, contained significant
submitted a non-binding and indicative pro- volumes of associated gas.
posal to acquire all of the Australian developer’s
stock for AUD4.40 ($3.29) per share on Sep- MEOG: Sakarya award and Farzad-B query
tember 2, valuing the company at AUD815mn In this week’s MEOG, we look at the award to
($608.5mn). Schlumberger and Subsea 7 of a major contract
offshore Turkey and Indian interest in work
EurOil: EU takes aim at Russian Arctic doled out to an Iranian firm.
The EU has proposed a new Arctic strategy US oilfield services specialist Schlumberger
which, if implemented, would prevent member this week announced that it had been awarded
states from acquiring oil and gas from the Rus- a contract as part of a consortium by Turkish
sian Arctic. While Moscow has downplayed the Petroleum (TPAO) for work on the offshore
impact of this move, it could undermine efforts Sakarya gas field.
to exploit trillions of dollars of oil and gas in Rus-
sia’s far north, putting it on a political collision NorthAmOil: Halliburton beats estimates
course with Brussels. Oilfield services giant Halliburton has beaten
analyst estimates with its third-quarter results,
FSUOGM: Nord Stream 2 declared ready which were announced this week.
Russia has finished filling the first string of the The company posted net income of $236mn,
Nord Stream 2 with natural gas, meaning that or $0.26 per share, for the quarter, up from a net
the pipeline is now technically ready to operate. loss of $17mn in the same quarter a year ago. The
But there is still no clarity on when the pipe- result also marked a slight increase on earnings
line will start pumping commercial volumes of of $227mn in the second quarter of 2021.™

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P18 www. NEWSBASE .com Week 42 21•October•2021