Page 18 - AfrOil Week 06 2023

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global gas volumes in storage, this has resulted in prices
(NRG), in which the reader is invited to join our dropping to their pre-Ukraine war levels, despite
team of international editors, as they provide a the steep drop in Russian deliveries.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new GLNG: China’s LNG imports forecast to
concise format, but by clicking on the headline rebound after plunging 20% in 2022
link for each section the full text will be available China’s LNG imports are projected to recover
as before. in 2023 to between 70mn and 72mn tonnes,
marking a 9% to 14% rise from 2022, analysts at
AsianOil: Philippines clears plan for Rystad Energy, Wood Mackenzie and ICIS told
seventh LNG import project Reuters. In 2022, LNG imports to China fell 20%
Authorities in the Philippines announced on Jan- year on year to 64.4mn tonnes, partly because of
uary 27 that they have greenlit the development strict COVID-19 lockdowns and partly because
of a $67mn small-scale LNG import terminal to of increased use of natural gas supplied by
provide a source of fuel for power generation. It domestic producers and imported via pipeline.
is the seventh such facility to be approved.
LatAmOil: T&T wins two-year waiver for
DMEA: Militia threatens Iraqi pipeline joint gas project with Venezuela
An Iraqi militant group with links to Iran has Mexico’s President Andres Manuel Lopez
made vague threats to halt any effort to establish Obrador has indicated that his government
a pipeline route linking Basra with the Red Sea. is responding positively to requests from the
Various versions of this plan to build a 1,600-km national oil company Pemex for assistance in
conduit to carry crude from Iraq’s Basra Gover- covering financial obligations to holders of its
norate to the Red Sea port of Aqaba have been on securities. He told journalists on January 26 that
the drawing board since 1982, but political, tech- Mexico City had formulated plans to ensure that
nical and commercial concerns have interfered. Pemex could pay its debt amortisations in 2023.
EurOil: CNOOC puts sale of UK North MEOG: Maha, Mafraq sign Oman deal
Sea business on hold Swedish explorer Maha Energy and local firm
China’s largest offshore oil and gas producer Mafraq Energy have signed a joint operating
CNOOC Ltd has put on hold the intended sale of agreement for Oman’s Block 70 concession fol-
its UK North Sea assets, Bloomberg reported this lowing a farm-in deal last year. Maha operates
week. Initial offers for the portfolio did not live Block 70 with a 65% stake, while Mafraq holds
up to CNOOC’s expectations, but a sale process the remainder following its August farm-in to
could be resumed if market conditions improve, the deal, which requires the Omani firm to reim-
sources told the news agency. burse Maha.
FSU OGM: Russian gas pipeline flows NorthAmOil: ExxonMobil and Chevron
dip to record low in January profits soar
Russian pipeline gas deliveries to Europe dipped The two largest US oil companies have posted
to a record low in January, down 30% compared record profits amidst continuing blowback from
with supplies in December, while experts warn politicians, consumer groups and US President
that there could be significant further down- Joe Biden. ExxonMobil made a profit of $55.7bn
side risk to the country’s deliveries. Europe has in 2022. Its previous record was $45.2bn in 2008,
enjoyed unseasonably high temperatures in when oil peaked at $142 a barrel, 30% higher
recent weeks, and with ample LNG supply and than in 2022. ™

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P18 www. NEWSBASE .com Week 06 09•February•2023