Page 18 - DMEA Week 24 2022

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global 40% year on year in May, on the back of soaring
(NRG), in which the reader is invited to join global prices, data published by CREA shows.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: More LNG investments for Petronas
regional beats. Malaysia’s national oil company Petronas is plan-
By clicking on the headline link for each sec- ning to take advantage of current strong demand
tion the full text will be available. for liquefied natural gas exports from Egypt to
Europe following the European Union’s deci-
AfrOil: FID taken on CLOV Phase 3 sion to invest in diversifying natural gas imports
Angola’s National Agency for Petroleum, Gas away from Russia due the conflict in Ukraine.
and Biofuels (ANPG) announced last week that A large delegation headed by Petronas Pres-
France’s TotalEnergies had made a final invest- ident and CEO Tengku Muhammad met with
ment decision on Phase 3 development at CLOV, Egyptian Minister of Petroleum Tarek El Molla
four offshore oilfields located within the Block to discuss making additional investments in
17 licence area. LNG export opportunities in Egypt.
In a statement dated June 10, ANPG said the
FID cleared the way for the French major and LatAmOil: APA hits water in Suriname
its partners to spend $850mn on the expansion Houston-based APA Corp. has finished drilling
of capacity at the Cravo, Lirio, Orquidea and the Rasper exploration well at Block 53 offshore
Violeta fields, which have been in production Suriname without finding any hydrocarbons.
since 2014. This additional capacity will come On June 13, APA said in a statement that
on stream in 2024, it noted. the Rasper wildcat well had encountered only
water-bearing reservoirs.
AsianOil: Carbon-offset crude for Taiwan
Taiwan’s CPC announced on June 12 that it had MEOG: NFE partner and Sakarya pipelay
received the country’s first cargo of certified car- In MEOG this week, we cover the unveiling
bon-offset crude. The cargo totalled 1.05mn bar- of Qatar’s first IOC partner in its giant LNG
rels of oil and was delivered by the trading arm of expansion project and the laying of pipes con-
Azerbaijan’s state-owned SOCAR. necting Turkey’s major offshore gas field to the
grid. Super-major TotalEnergies was named by
EurOil: Norwegian oil strike averted QatarEnergy as its first and main IOC partner in
Norwegian oil firms and employees have agreed a joint venture formed to support the develop-
in principle a new wage deal that will avert for ment of its North Field East LNG development.
the time being a strike at nine fields that could Meanwhile, Turkish President Recep Tayyip
have had an impact on the country’s oil supply, Erdogan announced that the Castoro 10 vessel
employers and unions said on June 12. has begun laying pipes that will tie-back the flag-
Two of the three unions that held talks with ship Black Sea gas discovery ahead of first gas in
oil firms will seek the consent of their members early 2023.
before formally approving the deal.
NorthAmOil: Ins and outs for BP
FSUOGM: Russian export revenues up BP announced this week that it had reached an
Russia’s revenue from energy exports in the first agreement with Cenovus Energy that will see it
100 days of the war amounted to €93bn, accord- relinquish its 50% stake in the Sunrise oil sands
ing to a study by the Helsinki-based CREA, and venture while farming into the undeveloped Bay
the EU remains the largest buyer of Russian gas du Nord project offshore Newfoundland and
and oil, even after the sixth package of sanctions Labrador.
that target energy was put in place. Under the terms of the agreement, Cenovus
Despite the West’s push to phase out Rus- will pay BP CAD600mn ($463mn) plus a varia-
sian energy imports and deprive the Kremlin of ble payment with a maximum cumulative value
money to finance its war in Ukraine, the coun- of CAD600mn expiring after two years, as well
try’s export revenues were in fact up by almost as handing over its 35% stake in Bay du Nord.™

See the archive and sign up to
receive *NRG Editor’s Picks* for
free by email each week here

P18 www. NEWSBASE .com Week 24 16•June•2022