Page 18 - AfrOil Week 46 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global cycle” in energy markets would drive prices
(NRG), in which the reader is invited to join higher as demand recovers. Rosneft’s EBITDA
our team of international editors, who provide a came in at $8.7bn (RUB638bn) in the three-
snapshot of some of the key issues affecting their month period, up 13% quarter on quarter, while
regional beats. We hope you will like NRG’s new net income rose by 38.7% to $4.3bn.
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: Details of Cheniere’s LNG supply
as before. deal with France’s Engie disclosed
Cheniere Energy (US) has struck a deal to supply
AsianOil: Petronas signs CCUS deals LNG to France’s Engie earlier this year, accord-
Malaysia’s Petronas has signed a number of ing to a letter to the US Department of Energy
agreements this month that focus on develop- whose details have been made public. The deal
ing carbon capture, utilisation and storage tech- is notable because last year Engie pulled out of
nology. It also said on November 16 that it had talks over a potential supply deal with another
signed a memorandum of understanding (MoU) US firm, NextDecade, after reportedly coming
with Baker Hughes to collaborate on “technolog- under pressure from the French government not
ical developments supporting energy transition.” to buy LNG produced from shale gas.

DMEA: Borouge expansion announced LatAmOil: ExxonMobil, SBM discussing
Abu Dhabi National Oil Co. (ADNOC) has fourth FPSO for Stabroek
signed a $6.2bn investment agreement with US-based ExxonMobil is reportedly in discus-
Austria-based Borealis for the Borouge joint sions with the Dutch contractor SBM Offshore
venture’s fourth facility in the UAE’s Ruwais on the construction of a fourth floating produc-
downstream hub. Meanwhile, Israeli Energy tion, storage and off-loading (FPSO) vessel for
Minister Karine Elharrar has called for the can- installation at the Stabroek block offshore Guy-
cellation of a deal to develop a means of piping ana. Two sources close to the matter told Reuters
Emirati crude oil from the Red Sea directly to that the parties had already begun negotiations.
the Mediterranean.
MEOG: Eridu plans, Kuwait’s transition
EurOil: Germany hits back against nuclear Iraq’s Ministry of Oil has received a develop-
Disagreements over which fuels the EU should ment plan for the Eridu oilfield from Russia’s
recognise as sustainable are heating up, with Lukoil, envisaging peak production of 250,000
Germany and four other member states warn- barrels per day. Meanwhile, Kuwaiti Oil Minis-
ing against the inclusion of nuclear energy. In a ter Mohammed Al Fares has reiterated his inten-
joint statement, the environment ministers of tions of ramping up oil production.
Germany, Denmark, Luxembourg, Austria and
Portugal said that including nuclear power in NorthAmOil: Biden administration denies
the proposed EU taxonomy would permanently considering Line 5 shutdown
damage the regulation’s “integrity, credibility and Freeport LNG Development has executed a let-
therefore its usefulness.” ter of intent with Talos Energy to jointly develop
a carbon capture and storage facility to serve the
FSU OGM: Sechin warns of “super cycle” Freeport liquefaction terminal on the Texas Gulf
Russia’s state-owned Rosneft has followed other Coast. The announcement about the FLNG CCS
oil and gas majors in reporting a surge in profits project came a day after Global Infrastructure
in the third quarter on the back of higher prices, Partners said that it was selling its 25.7% stake in
with its CEO Igor Sechin predicting a “super Freeport to Japan’s JERA for $2.5bn. ™

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P18 www. NEWSBASE .com Week 46 17•November•2021