Page 20 - AfrOil Week 29 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global for its gas, as Europe, its largest market, pushes to
(NRG), in which the reader is invited to join our eliminate Russian gas imports.
team of international editors, as they provide a
snapshot of some of the key issues affecting their GLNG: Bulgaria’s Overgas signs MoU for
regional beats. We hope you will like NRG’s new US LNG
concise format, but by clicking on the headline Bulgaria’s Overgas, part-owned by US-based
link for each section the full text will be available Linden Energy, has signed a memorandum of
as before. understanding (MoU) with a US LNG ship oper-
ator on acquiring 1bn cubic metres per year of
AsianOil: CNOOC launches self-developed natural gas from a planned regasification termi-
Christmas tree system nal in Vlora in southern Albania. The deal paves
China National Offshore Oil Corp. (CNOOC) the way for the two sides to negotiate a 10-year
has launched its first self-developed subsea sales and purchase agreement (SPA) for the gas.
Christmas tree system in the Bohai Sea, Chinese
media have reported. The state-owned com- LatAmOil: South American fuel imports
pany said in a separate announcement that it rise as asphalt shipments drop
was offering 13 offshore oil and gas blocks up for The volume of refined petroleum products deliv-
bidding by foreign companies in 2022. ered to Brazil and Argentina has been climbing
this month, as South American fuel traders seek
DMEA: Additions awaited amid refining to cover the seasonal rise in demand during the
shortfall Southern Hemisphere’s summer harvest season
Saudi Arabia’s Foreign Minister has called for and inventory build-up ahead of the heating
greater investment in the conversion of oil into season. According to shipping and commodity
products but said crude supplies are not in short tracking data from S&P Global Platts, the num-
supply. “As of today, we don’t see a lack of oil in ber of Brazil-bound cargoes hit 42 as of July 19.
the market. There is a lack of refining capacity,
which is also an issue, so we need to invest more MEOG: Iran signs $40bn Gazprom deal
in refining capacity,” Prince Faisal bin Farhan Al National Iranian Oil Co. (NIOC) and Russia’s
Saud said during a visit to Tokyo. Gazprom this week signed a memorandum of
understanding (MoU) covering investment
EurOil: Uniper seeks $2bn boost in credit worth around $40bn. The deal was signed by
line NIOC’s CEO Mohsen Khojastehmehr and Gaz-
German energy giant Uniper is seeking an prom’s deputy chairman Vitaly Markelov and
increase in a €2bn ($2.04bn) state credit line, will include field development, product swaps
after drawing down the full amount to deal and the completion of midstream projects,
with the financial fallout from reduced Russian including LNG facilities and pipelines.
gas supply. Uniper has filed an application to
increase the line with state bank KfW. NorthAmOil: Halliburton posts improved
results
FSU OGM: Work on Power of Siberia 2 to Oilfield services giant Halliburton’s has released
begin in 2024, says Mongolia its second-quarter results. The company, unen-
Mongolian Prime Minister Oyun-Erdene cumbered by a $344mn write-down from
Luvsannamsrai has said he expects construction the closure of its Russian assets, posted a 41%
of the Power of Siberia 2 gas pipeline to begin in increase in profit compared to the first quarter,
2024 and for gas flow to start in 2030. Moscow is driven by higher demand for drilling on the back
scrambling to develop alternative export routes of buoyant oil prices. ™

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P20 www. NEWSBASE .com Week 29 20•July•2022