Page 14 - AsianOil Week 44 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global noted that European gas storage utilisation was
(NRG), in which the reader is invited to join at an unusually low level for this time of year, and
our team of international editors, who provide a that Gazprom’s own storage sites on the conti-
snapshot of some of the key issues affecting their nent contain only 190,000 cubic metres of gas.
regional beats. We hope you will like NRG's new
concise format, but by clicking on the headline GLNG: Saipem sees Mozambique LNG proj-
link for each section the full text will be available ect restarting in mid-2022
as before. ITALIAN energy services provider Saipem
said on October 28 that it expects work on the
AfrOil: Former Sonangol director pessimis- Mozambique LNG project, which was put on
tic about local content hold this year for security reasons, to restart
ANGOLA’S government has made a number around mid-2022. During a conference call with
of efforts to increase local content in oil and gas analysts, Saipem’s chief financial officer, Antonio
projects involving international oil companies, Pacioretti, indicated that he did not expect the
but its approach has had only limited effect, project to make any significant contributions to
according to a former director of the national oil his company’s performance in 2021.
company Sonangol. Arnaldo Lago de Carvalho,
a businessman who previously served on Sonan- LatAmOil: ExxonMobil’s third disappoint-
gol’s board of directors, said last week that he saw ment at Canje block
the NOC itself as the biggest obstacle to increas- ESSO Exploration & Production Guyana Ltd
ing local content in oil and gas projects. (EEPGL), a subsidiary of ExxonMobil, has
reportedly completed its third exploration well
DMEA: Zarqa expansion and Duqm update at the Canje block offshore Guyana without
THIS week’s DMEA covers the submission of discovering commercial hydrocarbon reserves.
bids for the expansion of Jordan’s sole refin- According to JHI Associates, a non-operating
ery and an update on the timeline for Oman’s partner in the Canje project, the Sapote-1 well
Duqm refinery. Jordan Petroleum Refinery was drilled in 2,549-metre-deep water and sunk
Co. (JoPetrol) this week announced that it to a total depth of 6,758 metres.
had received bids from engineering firms for
a contract to expand the country’s Zarqa refin- MEOG: Aramco results and Iraq deals
ery under the so-called Project Petra. In other THIS week’s MEOG includes Aramco’s Q3
news, Oman’s flagship Duqm refinery is now results announcement and plans for deals
on course for commissioning during the first between Baghdad and Riyadh. Saudi Aramco
quarter of 2023, with project completion now this week announced its Q3 results which
having reached 87%. were highlighted by $30.4bn in net income,
up 158% compared to the same period last
EurOil: Shell resists break-up call year, taking it back to top spot as the world’s
ROYAL Dutch Shell has rejected a call by an most profitable company. Meanwhile, Iraqi
activist shareholder to break up the oil major, Oil Minister Ihsan Abdul Jabbar this week said
arguing that the company works better as a that the government intends to sign billions
united entity. Third Point, owned by billionaire of dollars worth of gas, renewables, water and
activist investor Daniel Loeb, has accumulated petrochemicals deals with Saudi Arabia before
a stake valued at nearly $750mn in Shell, and is the end of its term.
seeking its break-up.
NorthAmOil: North American producers
FSUOGM: Gazprom stockpiling domesti- buoyed by higher prices
cally THE earnings season is in full swing, and a
RUSSIA’S Gazprom expects to finish stockpil- growing number of North American produc-
ing gas at its Russian storage sites on November ers is reporting stronger performances thanks
8, CEO Alexei Miller said on October 27, after to commodity prices being at multi-year
which it will shift its focus to filling its sites else- highs. Among those reporting stronger per-
where in Europe. Miller was discussing the situa- formances are super-majors Chevron and
tion on the gas market in a meeting with Russian ExxonMobil, which posted their highest quar-
President Vladimir Putin, where the two men terly profits in years.™

P14 www. NEWSBASE .com Week 44 04•November•2021