Page 15 - MEOG Week 26 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global gas reported.
(NRG), in which the reader is invited to join The proposal would allow lower-calorific
our team of international editors, who provide a gas to be pumped into the UK’s pipeline system,
snapshot of some of the key issues affecting their meaning it can maximise resource recovery.
regional beats.
By clicking on the headline link for each sec- FSUOGM: Fedun leaves Lukoil
tion the full text will be available. The long-serving vice president of Russia’s big-
gest private oil producer Lukoil has stepped
AfrOil: NNPC shows increase in subsidies down from the position, the company reported
The Nigerian government spent nearly three on June 27, citing his reaching retirement age
times as much on domestic gasoline subsidies and family circumstances.
in the first five months of 2022 as it did in the Leonid Fedun, a major Lukoil shareholder
same period of last year, according to Nigerian estimated by Forbes to have an $8.2bn fortune,
National Petroleum Co. Ltd (NNPC Ltd). was a former Russian military officer that went
According to newly released data from into the oil business after the breakup of the
NNPC Ltd, Abuja paid out NGN1.274 tril- Soviet Union. He helped privatise Lukoil in the
lion ($3.07bn) in gasoline subsidies between 1990s.
January and May, 190.62% up on the figure of
NGN438.6bn ($1.06bn) recorded in the first five GLNG: Nord Stream 2 expropriation?
months of 2021. Germany is considering repurposing parts of
Russia’s unused Nord Stream 2 gas pipeline for
AsianOil: PetroChina weighs country exits importing LNG, Der Spiegel magazine reported
State-owned PetroChina is reported to be con- on June 27. The government in Berlin suspended
sidering exiting its investments in Australia and the certification process necessary for Nord
Canada in a bid to divert funds to more profita- Stream 2 to flow gas, days before Moscow began
ble opportunities elsewhere. its invasion of Ukraine.
This follows a similar shift in focus for
another Chinese state-owned company, LatAmOil: Petrobras to take Guyana cargo
CNOOC Ltd, which was reported in April to be Brazil’s national oil company Petrobras is due to
preparing to exit its operations in the US, UK take delivery of its first cargo of Guyanese light
and Canada. sweet crude for domestic refining before the end
of this week.
DMEA: Refineries blamed for fuel issues In a statement sent to Reuters, the company
In DMEA this week, we cover Nigeria’s fuel sup- confirmed that its first 1mn-barrel load of Guy-
ply and price issues as its NOC makes its first anese oil had departed from the Liza-1 offshore
payment in the acquisition of a share in a new field in mid-June.
mega facility.
Managing director of the Nigerian National NorthAmOil: Resources and confusion
Petroleum Corp. (NNPC) Ltd Mele Kyari told This week’s NorthAmOil covers a major resource
the country’s House of Representatives that boost for a Canadian oilfield and accusations
issues with fuel prices and availability should be and claims about the auction of a Caribbean
blamed on state refineries being out of operation. refinery. Canada’s offshore Hibernia oilfield
Meanwhile, the company has now paid the ini- could contain nearly 346mn barrels more than
tial $1bn instalment of its $2.76bn investment in previously thought, according to a new resource
the 650,000 bpd Dangote Refinery. estimate by the local regulator.
Meanwhile, amid confusion and accusations
EurOil: UK mulls lower-calorific gas use of impropriety in a recent auction to acquire the
The UK is looking to ease rules on the quality of Limetree Bay Refinery on the island of St. Croix,
natural gas in an effort to incentivise the devel- a group of known investors said this week that it
opment of extra North Sea supply, the Telegraph remains keen to assume ownership.™

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