Page 16 - FSUOGM Week 11 2022

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global The UK and US are banning imports
(NRG), in which the reader is invited to join of Russian oil, while the EU has ambitious
our team of international editors, who provide a plans to reduce its use of Russian gas by two
snapshot of some of the key issues affecting their thirds within a single year, in light of Mos-
regional beats. We hope you will like NRG's new cow’s invasion of Ukraine.
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: China Resells US LNG Cargoes
as before. China is reported to have resold a handful of
US LNG cargoes to Europe as price trends and
AfrOil: Eni, BP Finalise Plan For Azule JV Russia’s war in Ukraine continue to reroute
In Angola trade flows.
Eni and BP have finalised an agreement first This also marks the continuation of a trend
announced in May 2021 to form an inde- that emerged at the start of this year, whereby
pendent joint venture in Angola. Chinese oil and gas companies are seeking to
The new company, Azule Energy, will resell excess cargoes of LNG in markets where
combine all of the Italian and British energy they would fetch a higher price.
majors’ businesses in the African country
and will be managed independently. LatAmOil: Eco Atlantic To Expand Guyana
Foothold Via Acquisition Of JHI
AsianOil: South Korea Approves Oil Re- UK-based Eco (Atlantic) Oil & Gas said on
lease To Take Pressure Off Refiners March 14 that it had expanded its foothold
The South Korean government last week in Guyana’s offshore zone by striking an
gave the green light to release more than agreement on the acquisition of JHI Asso-
4mn barrels of oil from the country's Stra- ciates, a Canadian company that holds a
tegic Petroleum Reserve (SPR). 17.5% working interest in the Canje block.
The release follows a decision taken ear-
lier this month alongside the 30 other mem- MEOG:Iran Boosts Smaller Fields
ber countries of the International Energy This week’s MEOG looks at Iranian efforts
Agency (IEA), who agreed to a co-ordi- to increase output from two long-standing,
nated release of 60mn barrels of crude from smaller oilfields as part of a wider effort to
SPRs worldwide. increase production.
National Iranian Oil Co. (NIOC) subsid-
DMEA: Aramco Takes Panjin FID iaries said that new wells had been launched
This week’s DMEA covers Saudi Aramco’s at the Danan oilfield with a contract signed
investment decision on the development of a for the expansion of Masjid Soleyman, the
major integrated downstream unit in China. region’s oldest field.
The company said last week that it had
taken a final investment decision (FID) on NorthAmOil: ExxonMobil Reportedly Con-
the establishment of an integrated refinery sidering Bakken Sale
and petrochemical complex in north-eastern ExxonMobil is reportedly considering a sale of
China in collaboration with local partners. its assets in North Dakota’s Bakken play. Cit-
ing sources familiar with the matter, Bloomb- See the archive and
Euroil: Sturgeon Says Extra North Sea Hy- erg reported that the super-major had been sign up to receive
drocarbons Not The Answer approached by interested parties. *NRG Editor’s Picks*
Scottish First Minister Nicola Sturgeon has According to the sources, ExxonMobil for free by email each
said that ramping up North Sea oil and gas could receive up to $5bn for the assets. And week here
production is not a short-term solution to one of the sources added that the company was
Europe’s significant dependency on Russian in the final round of interviewing banks to help
gas. launch a sale process.

P16 www. NEWSBASE .com Week 11 16•March•2022