Page 13 - NorthAmOil Week 50 2021

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global border of Russia and Ukraine. The January gas
(NRG), in which the reader is invited to join delivery contract at the Dutch TTF hub was up
our team of international editors, who provide a nearly 7% in early trading on December 13 at
snapshot of some of the key issues affecting their €113 ($127) per MWh.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline link GLNG: Excelerate begins deliveries to Ba-
for each section the full text will be available as hia LNG
before. Excelerate Energy announced on December 8
that it had begun receiving gas deliveries at Brazil’s
AfrOil: Ugandan MPs approve EACOP Spe- Bahia LNG import terminal in Salvador, Bahia
cial Provisions Bill 2021 State. The company took control of the Bahia ter-
Uganda moved one step closer towards launch- minal last week after signing a lease agreement in
ing commercial hydrocarbon production last September, having already been providing regasi-
week, when members of Parliament approved fication services at Brazilian regasification facilities
a bill designed to facilitate the construction of since 2012.
the East African Crude Oil Pipeline (EACOP).
Legislators debated all sections of the draft law, LatAmOil: Eagle LNG, WEB Aruba sign
known as the EACOP Special Provisions Bill agreement on LNG terminal
2021, on December 8. US-based Eagle LNG Partners has struck an
agreement with WEB Aruba, the national
AsianOil: Senex agrees to Posco takeover water and power provider of Aruba, on the
Australia’s Senex Energy has agreed to be construction of an LNG regasification termi-
acquired by Posco International, the trading nal at the site of an existing oil refinery in San
arm of South Korean steelmaker Posco, for Nicolas. The agreement provides for the parties
AUD852.1mn ($606.8mn). Senex approved the to work together to build an LNG import and
deal after Posco raised its offer for a third time, to regasification facility at the Refineria di Aruba
AUD4.60 ($3.30) per share. (RdA) plant, which has been idle for some
time.
DMEA: ADNOC ammonia and NNPC
spending MEOG: Iraq turns to Majnoon
This week’s DMEA features the first ship- In this week’s MEOG, we look at Iraq’s plans to
ment of Emirati ammonia to Japanese refiner ramp up output from one of its biggest fields as
Idemitsu and an update from NNPC about its it chases down its ambitious oil production tar-
refinery rehabilitation spend. Idemitsu this get. Oil Minister Ihsan Abdul Jabbar this week
week said it had received the first shipment of attended a ceremony at the Majnoon oilfield and
blue ammonia from Abu Dhabi National Oil expressed optimism about the asset’s future as
Co. (ADNOC) following a deal in August. the country seeks to drive a significant increase
in national oil production.
EurOil: Shell shareholders back move to Meanwhile, the services arm of Petroleum
London Development Oman (PDO) this week signed
Shareholders at Shell have overwhelmingly its first commercial contract, to carry out an
backed plans to relocate the company’s head- onshore seismic survey in Block 56 for Swedish
quarters and tax residence from the Netherlands operator Tethys Oil.
to the UK, as well as make changes to the Anglo-
Dutch major’s shareholder structure. The move NorthAmOil: Suncor, Cenovus to ramp up
to London will involve the relocation of CEO spending in 2022
Ben van Beurden and CFO Jessica Uhl, and Canadian oil sands giants Suncor Energy and
Shell’s board and executive committee meetings Cenovus Energy have both said that they intend
will also take place in the UK from now on. to raise their capital expenditure and produc-
tion in 2022. The moves appear to be a bet that
FSUOGM: European gas prices continue oil prices will continue to recover from last year’s
climb lows, to which they crashed following the onset of
Europe could face rolling blackouts and heating the coronavirus (COVID-19) pandemic.
outages this year if the worst predictions are to be
believed, amid worryingly low levels of storage, See the archive and sign up to receive NRG Editor’s
supply constraints and escalating tensions at the Picks for free by email each week here.™

Week 50 16•December•2021 www. NEWSBASE .com P13