Page 14 - FSUOGM Week 24 2022

FSUOGM NEWS IN BRIEF FSUOGM

Fuel, oil, gas and coal will (b/d), versus 820,000 b/d in April and MOL (9.57%), American ExxonMobil
908,000 b/d in March.
(6.79%), Indian ONGC (2.31%), Japanese
no longer be exported from traditional markets, Russia has sought to Inpex Corp. (9.31%) and ITOCHU Oil
Looking to make up for lost sales on
(3.65%), Norwegian Equinor (7.27%),
Ukraine expand oil exports to Asia by discounting Turkish TPAO (5.73%).
The contract for the development of
its crude by about $30 per barrel. Iran's
Ukraine has banned the export of fuel, oil, discount for its Asian customers, especially the Shah Deniz field was signed in Baku
gas and coal amid concerns over the winter China, stands at only $20 per barrel, on June 4, 1996. The shareholders are BP
months, Ukraine Business News reported according to Reuters. (operator, 29.99%), SOCAR (21.02%),
on June 14. Around 40mn barrels of Iranian oil— LUKOIL (19.99%), NICO (10%), TPAO
Kyiv set the quota for coal, fuel oil and almost half the crude loaded by Iran in (19%).
gas exports at zero, which includes liquid March and April—was said by Kepler to be
fuel (fuel oil), coal, anthracite, briquettes, stranded on tankers awaiting customers.
pellets and similar solid fuels derived from Kazakh president orders
coal (excluding coking coal) and natural gas
of Ukrainian origin. Azerbaijan reduced oil boost in domestic sales of
President Volodymyr Zelenskiy
mentioned last week that Ukraine will not production by 2.8% natural gas by 2bn cm
sell any gas and coal abroad but rather save
it for domestic use to prepare for the winter and exports by 3.4% in Kazakh President Kassym-Jomart Tokayev
period. He also urged the government and ordered his government on June 9 to
local authorities to keep the cost of utilities January-May ensure that domestic sales of natural gas
down to pre-war levels for the winter season are increased by 2bn cubic metres (cm) a
as Ukraine prepares for the “most difficult The export of oil (with condensate) from year at the expense of exports as a measure
winter of all the years of independence”. Azerbaijan in January-May amounted to cut domestic consumption of coal,
The government announced the to 11.4mn tonnes, which is 3.4% lower Reuters has reported.
formation of the “headquarters for the than the same period in 2021, the energy It is unclear whether the development
preparation of housing and communal ministry reported. would impact supplies of gas to China,
services and the fuel and energy complex According to the ministry, of the total the main buyer of Kazakh gas, or Russia
for the autumn-winter period of 2022/23”, volume of exports of oil with condensate - the president also did not specify the
Ukrinform reported on June 7. This will in the reporting period, about 10.7mn date when it would take effect. Last year,
ensure that facilities damaged by the war tonnes was oil from the ACG block, with Kazakhstan piped 6bn cm of gas to China
will be repaired by the authorities in time condensate from the Shah Deniz field and 1bn cm to Russia.
for winter. 0.6mn tonnes. Tokayev instructed officials that the
According to the latest data, oil additional sales must come from the
production with condensate in Azerbaijan Chevron-led giant Tengiz oil and gas field.
Not so much solidarity in January-May amounted to 13.9mn decline since 2020, driven by a slump
Kazakh gas exports have been on the
tonnes (a decrease of 2.8%). At the same
shown by Tehran and time, 8.8mn tonnes of oil were produced in Chinese demand and growing local
from the ACG block, (3.2mn tonnes were
consumption.
Moscow on oil markets as produced by SOCAR), and 1.9mn tonnes reform its coal-dominated electric power
The Central Asian nation wants to
of condensate were from the Shah Deniz
latter undercuts former field. industry and sees gas as the best short-run
replacement and transition fuel ahead of
In January-May, 2.3mn tonnes of oil
Iran and Russia would much rather talk were processed in Azerbaijan (a decrease the switch to vast reliance on renewables.
about the solidarity they show in the face of 14.8%). The ministry said that since the
of Western sanctions, but the fact is that start of their development and as of June
since the latter replaced the former as the 1, 2022, a total of 591.6mn tonnes of oil South Africa's Sasol to
most sanctioned country in the world, the with condensate have been produced from
competition between Tehran and Moscow the ACG block and from the Shah Deniz provide Uzbekistan’s GTL
on oil markets that will happily take their field, including 555.3mn tonnes of oil
crude has intensified considerably. from the ACG, with the Shah Deniz field plant with low temperature
Oil-tanker-tracking companies have representing 36.3mn tonnes of condensate.
assessed that Iran's oil and natural gas The total export of oil from the ACG block Fischer Tropsch catalysts
exports have halved due to competition and condensate from the Shah Deniz field
with Russia on Asian markets. Data as of June 1 amounted to 591mn tonnes. South Africa’s integrated energy and
company Kepler, which also provides tanker Production of oil and associated gas chemical company Sasol is set to provide
tracking services, told Radio Farda on June from the ACG block began in November Uzbekistan’s gas-to-liquids (GTL)
13 that preliminary estimates showed that 1997. Currently, the share of British BP plant with low-temperature Fischer
Iran's crude oil and gas condensate loaded (the project operator) is 30.37%, and other Tropsch catalysts (LTFT), according to a
in May was about 400,000 barrels per day shareholders are SOCAR (25%), Hungarian memorandum of understanding (MoU)

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