Page 12 - NorthAmOil Week 09 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global FSUOGM: TotalEnergies to remain in Rus-
(NRG), in which the reader is invited to join sia despite Ukrainian invasion
our team of international editors, who provide a French oil major TotalEnergies has said it
snapshot of some of the key issues affecting their intends to stay put in Russia despite Moscow’s
regional beats. We hope you will like NRG’s new invasion of Ukraine, although it has said it will
concise format, but by clicking on the headline link not invest in any new projects in the country.
for each section the full text will be available as TotalEnergies has shown greater restraint in its
before. response to events in Ukraine than its Euro-
pean peers BP, Equinor and Shell, which have
AfrOil: Venus-1x may be sub-Saharan Afri- all said they intend to exit Russia’s oil and gas
ca’s largest oil find industry altogether.
UK-based Wood Mackenzie, a prominent
energy consultancy, has speculated that the GLNG: Shell, PipeChina sign terminal use
Venus discovery announced last week by agreement
TotalEnergies (France) at the PEL 56 licence Subsidiaries of Shell and China Oil & Gas Pipe-
area offshore Namibia may be the largest oil line Network – known as PipeChina – have
find ever made in sub-Saharan Africa. In a signed a memorandum of co-operation (MoC)
confidential report, the consultancy said that and two terminal use agreements. The termi-
in light of results from the Venus-1x wildcat nal user agreements with Shell Energy (China)
well, it now “conservatively estimates recover- are for two LNG receiving facilities – Yuedong
able oil volumes of over 3bn barrels,” the report LNG and Beihai LNG – for this year.
said.
LatAmOil: IEASA gets green light for Vaca
AsianOil: JERA to pursue LNG-to-power in Muerta gas line
Vietnam Argentina’s government has authorised state-
Japan’s JERA announced on March 1 that it had owned Integración Energética SA (IEASA)
kicked off full-scale operations in Vietnam. to build a new pipeline that will serve uncon-
The company – a 50:50 joint venture between ventional gas fields in the Vaca Muerta shale
utilities Tokyo Electric Power Co. (TEPCO) formation. Buenos Aires gave IEASA a green
and Chubu Electric Power – intends to pursue light for the project last week, when it issued a
LNG-to-power projects through its new Viet- decree granting the company a concession for
namese unit. the project.

DMEA: Asset sales and petchem plans MEOG: Aramco makes gas finds
This week’s DMEA includes coverage of Bah- This week’s MEOG covers the discovery of new
rain’s steps towards monetising its oil and gas gas fields in Saudi Arabia and a potential con-
infrastructure and efforts by Iran to increase cession deal in Oman. Saudi Arabia announced
feedstock for petrochemical production. Bah- over the weekend that state oil firm Saudi Ara-
rain’s Oil & Gas Holding Co. (nogaholding) is mco has discovered new gas fields in four regions
hiring a team of advisors to work on plans to of the Kingdom, boosting the size of its conven-
monetise oil and gas assets, according to the tional and unconventional gas reserves. Mean-
company’s CEO. Meanwhile, Iran’s state petro- while, Oman’s Ministry of Energy and Mineral
chemical firm said this week that it intends to Resources (MoEM) is holding talks with Shell
more than double the country’s supply of feed- and TotalEnergies regarding a potential deal to
stock for petrochemical projects by the end of develop gas from the Sultanate’s Block 11 conces-
the decade. sion, expanding a December agreement.

EurOil: Nord Stream 2 becomes insolvent NorthAmOil: IEA members to release
The Swiss-based operator of Russia’s beleaguered 60mn barrels amid Ukraine conflict
Nord Stream 2 gas pipeline project has become International Energy Agency (IEA) members
insolvent, a Swiss official told local radio on led by the US agreed on March 1 to a co-or-
March 1. The US slapped Nord Stream 2 with dinated release of crude oil from emergency
additional sanctions last week in response to stockpiles. The decision comes in the wake
Russia’s recognition of eastern Ukraine’s break- of Russia’s invasion of Ukraine last week, and
away regions of Donetsk and Lugansk as inde- will result in 60mn barrels of oil being released
pendent, while German Chancellor Olaf Scholz onto the market.
announced that his government would halt the
certification process necessary for the pipeline to See the archive and sign up to receive NRG Editor’s
start up. Picks for free by email each week here.™

P12 www. NEWSBASE .com Week 09 03•March•2022