Page 15 - MEOG Week 12 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global Shetland Islands, in light of soaring oil and gas
(NRG), in which the reader is invited to join prices in recent months triggered by Russia’s war
our team of international editors, who provide a in Ukraine.
snapshot of some of the key issues affecting their The UK major announced in early Decem-
regional beats. ber it was leaving the Siccar Point-operated pro-
We hope you enjoy NRG’s new concise for- ject because its economic case “was not strong
mat, but by clicking on the headline link for each enough” and there was a risk of delays.
section the full text will be available as before.
FSUOGM: Russian oil becomes toxic
AfrOil: Uganda hopes for refinery FID in ‘23 In the midst of the 1998 financial crisis Adam
Uganda’s Energy Minister Ruth Nankabirwa says Elstein, the managing director of Bankers Trust’s
that the Albertine Graben Refinery Consortium Moscow office, famously told the Financial
(AGRC) is on track to make a final investment Times’ John Thornhill that he would rather “eat
decision next year on the construction of a plant toxic nuclear waste” than buy Russian assets.
that will process crude oil from fields near Lake Following President Vladimir Putin’s attack
Albert. on Ukraine on February 24, Russia is back in
At the weekend, Nankabirwa stated that dis- that place.
cussions among members of the consortium
were moving forward. GLNG: Germany turns to Qatar
Germany is turning to Qatar for LNG as it pivots
AsianOil: BP, Petronas win Indonesia blocks away from Russian natural gas in the wake of the
Super-major BP and Malaysia’s Petronas both war in Ukraine.
announced on March 18 that they had been Following a visit to Qatar over the weekend
awarded deepwater exploration blocks as part of March 19-20, German Minister of Economy
of the second round of Indonesia’s 2021 Oil and Robert Habeck described a deal between the two
Gas Working Area (WK) Bid Round. countries as a “door opener”.
BP has been awarded the Agung I and Agung
II blocks, while Petronas won rights to the North LatAmOil: Emissions influence in Ecuador
Ketapang block. Ecuador’s Energy Minister Juan Carlos Bermeo
has said that Quito may take carbon emissions
DMEA: Angola refinery work set to start reduction goals into account when selecting the
Work on a greenfield refinery in north-western winners of upcoming tenders for six onshore oil
Angola is expected to begin late next month, blocks.
with equipment set to begin arriving at the More specifically, Bermeo said, Ecuador may
location of a similar facility two months later, give extra consideration to offers from investors
according to a representative of the national oil that offer access to technologies that help shrink
company Sonangol. the country’s carbon footprint.
Meanwhile, the day Saudi Aramco
announced its 2021 full-year results, its facili- NorthAmOil: Govt to resume federal leasing
ties came under attack once again from missiles The administration of US President Joe Biden
and drones launched by Yemen’s Iran-aligned will resume oil and gas leasing on federal land
Houthi militia, targeting a water desalination following a court decision temporarily rein-
plant at Al-Shaqeeq, a distribution station at stating a measure that puts a higher price on
Jazan, a power station near Aramco’s HQ in the greenhouse gas emissions associated with
Dhahran and gas facilities at Yanbu’ and Khamis projects.
Mushait. The development marks the latest twist in
a saga that has been ongoing since Biden took
EurOil: Shell reconsiders Cambo move office and attempted to review and overhaul the
Shell is reportedly reconsidering its withdrawal federal oil and gas leasing system, with climate
from the giant Cambo oilfield west of the UK change concerns in mind.™

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