Page 13 - NorthAmOil Week 07 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global FSUOGM: Rosneft profits hit record on
(NRG), in which the reader is invited to join high prices
our team of international editors, who provide a Profits at Russia’s largest oil company Ros-
snapshot of some of the key issues affecting their neft surged to a record-high last year on the
regional beats. We hope you will like NRG’s new back of rising oil and gas prices and eco-
concise format, but by clicking on the headline link nomic recovery, which more than offset the
for each section the full text will be available as impact of OPEC+ restrictions. The company,
before. which accounts for 40% of Russian oil output,
achieved a seven-fold increase in ruble terms
AfrOil: TotalEnergies CEO qualifies state- in net profit to RUB883bn ($11.8bn), while
ments on Mozambique LNG restart in US dollar terms, it rose almost sixfold to
Patrick Pouyanné, the CEO of TotalEnergies $11.9bn.
(France), has qualified his recent statements
about the possibility that work on the Mozam- GLNG: China seeks greater global LNG
bique LNG project may resume before the end trading role
of this year. Speaking with analysts during a China is reportedly working to establish itself as
quarterly earnings call on February 10, Pouy- a major player in global LNG trading. The move
anné stressed that security conditions would comes around 20 years after the country made a
determine when work on Mozambique LNG, similar push into oil trading.
which was suspended late last March, might
resume. LatAmOil: ExxonMobil brings second oil-
field on stream offshore Guyana
AsianOil: ConocoPhillips Sarawak con- ExxonMobil (US) and its partners launched
tracts jack-up rig for Malaysian drilling commercial operations at the Liza-2 oilfield
campaign offshore Guyana on February 11, marking the
Units of US independent ConocoPhillips have start of their second development project at the
contracted Icon Offshore to provide a jack-up Stabroek block. The US super-major issued a
rig for a multi-well drilling campaign offshore statement announcing first oil at Liza-2, saying
Malaysia that is due to start in the second quar- that the Liza Unity floating production, stor-
ter of this year. According to a February 11 filing, age and off-loading (FPSO) unit had come on
Icon’s I Oilfield Services subsidiary was issued a stream.
letter of award by two units collectively known as
ConocoPhillips Sarawak on December 23, 2021. MEOG: PIF picks up Aramco shares
In this week’s MEOG, we look at the transfer of
DMEA: Karbala progresses, Sapref shuts shares in Saudi Aramco and an output uptick
In this week’s DMEA, we look at the contrasting in south-western Iran. Crown Prince Moham-
fortunes of refineries in Iraq and South Africa. med bin Salman this week transferred 4% of
Iraq’s Karbala refinery is set to begin commission- Aramco’s shares to the Kingdom’s sovereign
ing on schedule in September before ramping up wealth fund, the Public Investment Fund (PIF).
to full capacity in 2023, according to the facility’s Meanwhile, Iran’s Petroleum Engineering and
director. Meanwhile, BP and Shell have announced Development Co. (PEDEC) said this week that
plans to suspend operations at the Sapref refinery production capacity at the South Azadegan oil-
indefinitely, saying they cannot commit to any fur- field will increase by 15,000 barrels per day by
ther expenditures until they make a decision on the the end of next month.
fate of the plant, which they have been operating
through a joint venture. NorthAmOil: Alberta reportedly planning to
toughen oil sands emissions standards
EurOil: European gas prices bullish amid The provincial government of Alberta is
invasion warnings reportedly planning to toughen its greenhouse
TTF gas prices were bullish in early trading gas emissions standards for oil sands mines.
this week, after the White House warned that a The move would close a loophole that allowed
Russian invasion of Ukraine could occur within some of the highest-emissions facilities to
days. The Biden administration’s national secu- claim millions of dollars’ worth of tradeable
rity advisor Jake Sullivan warned late on Feb- credits.
ruary 11 that Russia could launch a military
incursion “any day now” – possibly even before See the archive and sign up to receive NRG Editor’s
the Winter Olympics in Beijing end. Picks for free by email each week here.™

Week 07 17•February•2022 www. NEWSBASE .com P13