Page 14 - GLNG Week 18 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global European buyers look to tie in long-term supply
(NRG), in which the reader is invited to join deals for US LNG supplies at below the current
our team of international editors, who provide a high spot prices.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new LatAmOil: Olmeca refinery may cost as
concise format, but by clicking on the headline link much as $14bn
for each section the full text will be available as The final price tag for the 340,000 barrel per
before. day refinery that Mexico’s national oil company
Pemex is building in Tabasco State may be nearly
Afroil: TotalEnergies joins other IOCs in twice the original figure of $8bn, according to a
selling Nigerian onshore assets report from Reuters. The news agency reported
TotalEnergies(France) intends to join other late last week, citing government documents and
international oil companies in trimming its sources close to the project, that officials in Mex-
onshore portfolio in Nigeria. It will accomplish ico City now believed that the NOC would have
this goal by unloading its minority stake in Shell to spend around $14bn on the Olmeca refinery,
Petroleum Development Corp. (SPDC), a joint formerly known as Dos Bocas.
venture that operates 19 onshore oiland gas
licences in the southern part of the country. MEOG: Iran looks for alternatives
In MEOG this week we look at Iran’s moves to
AsianOil: Indian refiners reportedly negoti- deal with Venezuela and Saudi Arabia as nuclear
ating oil import deal with Russia deals wither. As the chances of resuscitating the
Indian refiners are reportedly in talks over a six- Joint Comprehensive Plan of Action (JCPOA)
month deal to import oil from Russia.This comes appear to grow slimmer by the day, Tehran is
amid a rise in the Asian country’s oil imports in courting alternative political ties as a means to
the wake of the war in Ukraine. bring economic opportunity. Meanwhile, Iraqi
Prime Minister Mustafa al-Kadhimi was quoted
DMEA: Ghana offers optimism on Tema by the country’s Al-Sabah newspaper as saying
This week, DMEA looks at the voicing of opti- that Tehran and Riyadh are working towards a
mism about the rehabilitation of Ghana’s only oil mutual understanding on improving bilateral
refinery.Ghanaian President Nana Akufo-Addo relations.
provided an update on efforts to repair and rein-
state capacity at the country’s Tema refinery. NorthAmOil: ExxonMobil, Chevron post
first-quarter profits
EurOil: BP attributes record quarterly loss US super-majors ExxonMobilandChevronhave
to Russia exit posted multi-billion-dollar profits for the first
UK-listed super-majorBP has posted a record quarter of 2022, during which West Texas Inter-
loss of $20.4bn for the first quarter of 2022.The mediate crude prices averaged $95 per barrel and
company also reported its strongest operational briefly rose above $120 per barrel. ExxonMobil
performance in more than a decade on the back reported net income for the quarter of $5.5bn, or
of strong commodity prices, but this was wiped $1.28 per share, down sequentially from $8.9bn
out by a $24.4bn write-down in the quarter, in the fourth quarter of 2021 but up from $2.7bn
largely related to BP’s decision to exit its invest- in the first quarter of last year.
ments in Russia.
See the archive and sign up to receive NRG Editor’s
FSUOGM: Aliyev says TAP pipeline will Picks for free by email each week here.™
reach full capacity in 2022
Ilham Aliyev, President of Azerbaijan, said on
April 29 that the Trans Adriatic Pipeline (TAP)
was on track to reach its full capacity of 10bn
cubic metres per year in 2022, up from 8.2 bcm
in 2021. The system will deliver 10bn cubic
metres of natural gas to Italy, he stated at a con-
ference in Baku.

GLNG: Gunvor secures long-term deal with
Energy Transfer for US LNG
Swiss-based commodity trader Gunvor is to
buy 2mn tonnes per year of LNG from Energy
Transfer’s proposed Lake Charles LNG export
terminal. Gunvor agreed to a 20-year FOB deal as

P14 www. NEWSBASE .com Week 18 06•May•2022