Page 18 - AfrOil Week 45 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global “Gazprom approved and began implementation
(NRG), in which the reader is invited to join of the plan for pumping gas into five European
our team of international editors, who provide a underground storage facilities in November,” the
snapshot of some of the key issues affecting their company reported via its social media channels.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: ARC strikes deal to supply gas to
link for each section the full text will be available LNG Canada
as before. ARC Resources said last week that it had struck
a deal to supply natural gas to a member of the
AsianOil: POSCO wins over Senex board LNG Canada consortium, which is building an
with new bid LNG export terminal on the British Columbia
South Korea’s POSCO International has sub- coast. The agreement is set to take effect when
mitted a new bid for Senex Energy that has LNG Canada enters service – expected in 2025
finally won the backing of the Australian devel- – and will see ARC supply 150mn cubic feet
oper’s board. Senex said on November 8 that it (4.2mn cubic metres) per day of gas over the long
had received a further improved non-binding term to be used as feedstock for the terminal.
proposal from POSCO to acquire 100% of the
Australian firm for an all-cash offer of AUD4.60 LatAmOil: Electricity export earnings will
($3.42) per share. fund Vaca Muerta gas pipeline
Argentina expects to use the proceeds of elec-
DMEA: Fertiglobe results and Aramco tricity exports to Brazil to finance two major
backing infrastructure projects that will facilitate the
The Fertiglobe joint venture between Dutch development of the Vaca Muerta shale for-
chemicals manufacturer OCI and Abu mation. News of these plans emerged after the
Dhabi National Oil Co. (ADNOC) this week Energy Secretariat adopted a new ruling govern-
announced a 2,000% increase in Q3 net profit. ing the use of export revenues.
Meanwhile, Saudi-based Amad Chemicals Co.
this week received a $1.3mn loan from Aramco’s MEOG: Cost-cutting and reshuffling
investment arm Wa’ed to finance the company’s The governments of Iraq and Jordan remain in
expansion in the Kingdom. discussions on a cross-border oil pipeline but will
only proceed if costs are reduced significantly,
EurOil: Shell calls time on oil refining in according to Baghdad’s Ministry of Oil. Mean-
Germany while, Yemeni President Abd Rabbuh Mansur
Royal Dutch Shell said on November 4 that it was Hadi has appointed new executives at two state-
ending oil processing at its Rheinland refinery in owned oil companies, as fighting intensified
Wesseling in Germany as part of its shift to low- between government and Iranian-backed mili-
er-carbon energy. Oil processing at the site will tants in the oil-rich Ma’rib Governorate.
cease in 2025, and from then on it will produce
low or zero-carbon products instead, Shell said. NorthAmOil: Biden administration denies
considering Line 5 shutdown
FSU OGM: Gazprom starts filling gas The administration of US President Joe Biden
storage sites in Europe has denied reports that it was considering shut-
Natural gas prices fell on November 9 after ting down Enbridge’s Line 5 pipeline, which is
Russia’s Gazprom announced it had begun fill- at the centre of a dispute with the state of Michi-
ing up its gas storage facilities in Europe, which gan. Reports had emerged that Washington was
should help ease the continent’s supply crunch. quietly studying the impact of closing Line 5. ™

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P18 www. NEWSBASE .com Week 45 10•November•2021