Page 15 - MEOG Week 24 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global before formally approving the deal.
(NRG), in which the reader is invited to join
our team of international editors, who provide a FSUOGM: Russian export revenues up
snapshot of some of the key issues affecting their Russia’s revenue from energy exports in the first
regional beats. 100 days of the war amounted to €93bn, accord-
By clicking on the headline link for each sec- ing to a study by the Helsinki-based CREA, and
tion the full text will be available. the EU remains the largest buyer of Russian gas
and oil, even after the sixth package of sanctions
AfrOil: FID taken on CLOV Phase 3 that target energy was put in place.
Angola’s National Agency for Petroleum, Gas Despite the West’s push to phase out Rus-
and Biofuels (ANPG) announced last week that sian energy imports and deprive the Kremlin of
France’s TotalEnergies had made a final invest- money to finance its war in Ukraine, the coun-
ment decision on Phase 3 development at CLOV, try’s export revenues were in fact up by almost
four offshore oilfields located within the Block 40% year on year in May, on the back of soaring
17 licence area. global prices, data published by CREA shows.
In a statement dated June 10, ANPG said the
FID cleared the way for the French major and GLNG: More LNG investments for Petronas
its partners to spend $850mn on the expansion Malaysia’s national oil company Petronas is plan-
of capacity at the Cravo, Lirio, Orquidea and ning to take advantage of current strong demand
Violeta fields, which have been in production for liquefied natural gas exports from Egypt to
since 2014. This additional capacity will come Europe following the European Union’s deci-
on stream in 2024, it noted. sion to invest in diversifying natural gas imports
away from Russia due the conflict in Ukraine.
AsianOil: Carbon-offset crude for Taiwan A large delegation headed by Petronas Pres-
Taiwan’s CPC announced on June 12 that it had ident and CEO Tengku Muhammad met with
received the country’s first cargo of certified car- Egyptian Minister of Petroleum Tarek El Molla
bon-offset crude. The cargo totalled 1.05mn bar- to discuss making additional investments in
rels of oil and was delivered by the trading arm of LNG export opportunities in Egypt.
Azerbaijan’s state-owned SOCAR.
LatAmOil: APA hits water in Suriname
DMEA: Progress at Haditha refinery Houston-based APA Corp. has finished drilling
Iraq’s state-owned North Refineries Co. (NRC) the Rasper exploration well at Block 53 offshore
has passed the half-way point in its project to Suriname without finding any hydrocarbons.
upgrade and expand capacity at the Haditha On June 13, APA said in a statement that
refinery in Anbar Governorate. the Rasper wildcat well had encountered only
Speaking to local press this week, the refin- water-bearing reservoirs.
ery’s director, Hassan Mardi Abdulaziz, said that
the “project completion has exceeded 50%” as NorthAmOil: Ins and outs for BP
it works to more than double capacity from the BP announced this week that it had reached an
current level of 16,000 bpd. agreement with Cenovus Energy that will see it
relinquish its 50% stake in the Sunrise oil sands
EurOil: Norwegian oil strike averted venture while farming into the undeveloped Bay
Norwegian oil firms and employees have agreed du Nord project offshore Newfoundland and
in principle a new wage deal that will avert for Labrador.
the time being a strike at nine fields that could Under the terms of the agreement, Cenovus
have had an impact on the country’s oil supply, will pay BP CAD600mn ($463mn) plus a varia-
employers and unions said on June 12. ble payment with a maximum cumulative value
Two of the three unions that held talks with of CAD600mn expiring after two years, as well
oil firms will seek the consent of their members as handing over its 35% stake in Bay du Nord.™

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