Page 17 - LatAmOil Week 06 2023

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global FSU OGM: Russian gas pipeline flows
(NRG), in which the reader is invited to join dip to record low in January
our team of international editors, who provide a Russian pipeline gas deliveries to Europe dipped
snapshot of some of the key issues affecting their to a record low in January, down 30% compared
regional beats. We hope you will like NRG’s new with supplies in December, while experts warn
concise format, but by clicking on the headline that there could be significant further down-
link for each section the full text will be available side risk to the country’s deliveries. Europe has
as before. enjoyed unseasonably high temperatures in
recent weeks, and with ample LNG supply and
AfrOil: Italy, Libya sign $8bn gas deal gas volumes in storage, this has resulted in prices
Italian Prime Minister Giorgia Meloni arrived dropping to their pre-Ukraine war levels, despite
in Libya on January 28 to sign a natural gas the steep drop in Russian deliveries.
supply deal with the North African country’s
state-owned oil company, after visiting Algeria GLNG: China’s LNG imports forecast to
the previous week for the same purpose. She was rebound after plunging 20% in 2022
accompanied by Claudio Descalzi, the CEO of China’s LNG imports are projected to recover
Eni, and Italian Foreign Minister Antonio Tajani. in 2023 to between 70mn and 72mn tonnes,
marking a 9% to 14% rise from 2022, analysts at
AsianOil: Philippines clears plan for Rystad Energy, Wood Mackenzie and ICIS told
seventh LNG import project Reuters. In 2022, LNG imports to China fell 20%
Authorities in the Philippines announced on Jan- year on year to 64.4mn tonnes, partly because of
uary 27 that they have greenlit the development strict COVID-19 lockdowns and partly because
of a $67mn small-scale LNG import terminal to of increased use of natural gas supplied by
provide a source of fuel for power generation. It domestic producers and imported via pipeline.
is the seventh such facility to be approved.
MEOG: Maha, Mafraq sign Oman deal
DMEA: Militia threatens Iraqi pipeline Swedish explorer Maha Energy and local firm
An Iraqi militant group with links to Iran has Mafraq Energy have signed a joint operating
made vague threats to halt any effort to establish agreement for Oman’s Block 70 concession fol-
a pipeline route linking Basra with the Red Sea. lowing a farm-in deal last year. Maha operates
Various versions of this plan to build a 1,600- Block 70 with a 65% stake, while Mafraq holds
km conduit to carry crude from Iraq’s oil-rich the remainder following its August farm-in
Basra Governorate to the Red Sea port of Aqaba to the deal, which requires the Omani firm to
have been on the drawing board since 1982, with reimburse Maha for its “prorated share of all past
political, technical and commercial concerns costs, including the signature bonus [and …] its
converging to derail progress. share of all future expenditures on Block 70.”
EurOil: CNOOC puts sale of UK North NorthAmOil: ExxonMobil and Chevron
Sea business on hold profits soar
China’s largest offshore oil and gas producer The two largest US oil companies have posted
CNOOC Ltd has put on hold the intended sale of record profits amidst continuing blowback from
its UK North Sea assets, Bloomberg reported this politicians, consumer groups and US President
week. Initial offers for the portfolio did not live Joe Biden. ExxonMobil made a profit of $55.7bn
up to CNOOC’s expectations, but a sale process in 2022. Its previous record was $45.2bn in 2008,
could be resumed if market conditions improve, when oil peaked at $142 a barrel, 30% higher
sources told the news agency. than in 2022. ™

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Week 06 08•February•2023 www. NEWSBASE .com P17