Page 17 - EurOil Week 11 2022

EurOil NEWSBASE ROUNDUP GLOBAL (NRG) EurOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global response to the escalating conflict in
(NRG), in which the reader is invited to join Ukraine, including an asset freeze and travel
our team of international editors, who provide a ban measures on seven of Russia’s wealthiest
snapshot of some of the key issues affecting their and most influential oligarchs, all of which
regional beats. We hope you will like NRG's new have close ties to Russian President Vladimir
concise format, but by clicking on the headline Putin.
link for each section the full text will be available
as before. GLNG: China Resells US LNG Cargoes
China is reported to have resold a handful of
AfrOil: Eni, BP Finalise Plan For Azule JV US LNG cargoes to Europe as price trends and
In Angola Russia’s war in Ukraine continue to reroute
Eni and BP have finalised an agreement first trade flows.
announced in May 2021 to form an inde- This also marks the continuation of a trend
pendent joint venture in Angola. that emerged at the start of this year, whereby
The new company, Azule Energy, will Chinese oil and gas companies are seeking to
combine all of the Italian and British energy resell excess cargoes of LNG in markets where
majors’ businesses in the African country they would fetch a higher price.
and will be managed independently.
LatAmOil: Eco Atlantic To Expand Guyana
AsianOil: South Korea Approves Oil Re- Foothold Via Acquisition Of JHI
lease To Take Pressure Off Refiners UK-based Eco (Atlantic) Oil & Gas said on
The South Korean government last week March 14 that it had expanded its foothold
gave the green light to release more than in Guyana’s offshore zone by striking an
4mn barrels of oil from the country's Stra- agreement on the acquisition of JHI Asso-
tegic Petroleum Reserve (SPR). ciates, a Canadian company that holds a
The release follows a decision taken ear- 17.5% working interest in the Canje block.
lier this month alongside the 30 other mem-
ber countries of the International Energy MEOG:Iran Boosts Smaller Fields
Agency (IEA), who agreed to a co-ordi- This week’s MEOG looks at Iranian efforts
nated release of 60mn barrels of crude from to increase output from two long-standing,
SPRs worldwide. smaller oilfields as part of a wider effort to
increase production.
DMEA: Aramco Takes Panjin FID National Iranian Oil Co. (NIOC) subsid-
This week’s DMEA covers Saudi Aramco’s iaries said that new wells had been launched
investment decision on the development of a at the Danan oilfield with a contract signed
major integrated downstream unit in China. for the expansion of Masjid Soleyman, the
The company said last week that it had region’s oldest field.
taken a final investment decision (FID) on
the establishment of an integrated refinery NorthAmOil: ExxonMobil Reportedly Con-
and petrochemical complex in north-eastern sidering Bakken Sale
China in collaboration with local partners. ExxonMobil is reportedly considering a sale of
its assets in North Dakota’s Bakken play. Cit-
FSUOGM: UK Slaps Sanctions On Gaz- ing sources familiar with the matter, Bloomb- See the archive and
prom, Rosneft CEOs erg reported that the super-major had been sign up to receive
The UK has slapped sanctions on the CEOs approached by interested parties. *NRG Editor’s Picks*
of Russia’s largest oil and gas producers Ros- According to the sources, ExxonMobil for free by email each
neft and Gazprom over Moscow’s invasion could receive up to $5bn for the assets. And week here
of Ukraine. one of the sources added that the company was
Foreign Secretary Liz Truss announced in the final round of interviewing banks to help
a package of sanctions on March 10 in launch a sale process.

Week 11 17•March•2022 www. NEWSBASE .com P17