Page 15 - MEOG Week 15 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global and other low-carbon technologies.
(NRG), in which the reader is invited to join
our team of international editors, who provide a FSUOGM: Shell warns of Russian hit
snapshot of some of the key issues affecting their Shell warned on April 7 it expected to book a
regional beats. write-down charge of between $4 and $5bn in
We hope you enjoy NRG’s new concise for- the first quarter on its Russian assets in light of
mat, but by clicking on the headline link for each its decision to leave the country because of Mos-
section the full text will be available as before. cow’s war in Ukraine.
The UK major previously said it would write
AfrOil: Sonatrach to increase Italy supplies off only $3.4bn in value because of its departure
Algeria’s national oil company Sonatrach has from Russia, where it has a 27.5% stake in the
cut a deal with the Italian major Eni to deliver Gazprom-operated Sakhalin LNG plant in the
an additional 9bn cubic metres of natural gas in Russian Far East, as well as shares in Gazprom
2022-2023. The two sides signed a new supply Neft’s Salym Petroleum and Gydan oil develop-
agreement during Italian Prime Minister Mario ments in Western Siberia.
Draghi’s visit to Algeria on Monday, April 11.
GLNG: ADNOC orders LNG tankers
AsianOil: Shell resumes Prelude shipments Abu Dhabi National Oil Co. (ADNOC) has
Shell said in a brief statement on April 11 that it confirmed it is to order two 175,000 cubic metre
had resumed shipping cargoes from its Prelude LNG tankers from Shanghai’s Jiangnan Shipyard
floating LNG facility offshore the north coast of as part of plans to expand its shipping fleet and to
Western Australia. raise LNG production.
The facility had been offline for four months ADNOC Logistics & Services (ADNOC
following a major power failure. L&S), the company’s shipping unit, said on April
12 that it had signed a contract for the construc-
DMEA: Downstream progress and plans tion of two 175,000 cubic metre LNG vessels and
Iran is set to begin construction work on its expected that they would be delivered in 2025.
300,000 barrel per day Shahid Ghasem Soleim-
ani refinery as it builds out downstream process- LatAmOil: T&T to reduce fuel subsidies
ing capacity. Colm Imbert, the prime minister of Trinidad
Meanwhile, a Moroccan support group this and Tobago, announced on April 8 that his gov-
week called on the government to take an active ernment intended to reduce subsidies for petro-
role in supporting the country’s downstream leum product prices as of April 19.
industry following the shutdown of its only In an address to members of the House of
refinery in 2015. Representatives, Imbert said that Port of Spain
had taken the decision to hike fuel prices out of
EurOil: UK to bolster energy security economic necessity.
The UK government has unveiled a new energy
policy paper aimed at bolstering the country’s NorthAmOil: Canada details tax credit
energy security in the face of soaring gas and The Canadian government has unveiled details
power prices and Europe’s push to phase out of its long-awaited tax incentives to help fund
Russian energy. carbon capture projects in the country.
In the run-up to the COP26 climate sum- The incentives form part of Canadian Prime
mit in Glasgow last autumn, the government Minister Justin Trudeau’s new fiscal plan, and
announced a number of ambitious targets to are aimed at spurring investment in carbon cap-
decarbonise industries and scale up renewables ture and storage technologies.™

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