Page 18 - AfrOil Week 10 2023

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global lack of profit was mostly due to the accumulation
(NRG), in which the reader is invited to join our of significant receivables after the state used Naf-
team of international editors, as they provide a togaz’s working capital to meet the energy supply
snapshot of some of the key issues affecting their needs of consumers.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: Germany targets fourth-highest
link for each section the full text will be available global LNG import capacity by 2030
as before. Germany is planning to push its LNG import
capacity up to more than 70mn tonnes per year
AsianOil: New Indian LNG terminal to (tpy) by the end of the decade, Argus Media
start operations before summer reports, citing documents from the German
A long-overdue LNG import terminal in India economic ministry (BMWK) and planning
is now expected to begin operating by the sum- applications from the German multinational
mer. The tentative start dates mentioned for the energy utility RWE.
plant are in mid-June, although as with much in
Indian LNG and power infrastructure in general, LatAmOil: Pemex fails to uphold pledge
this remains uncertain. to halt gas flaring at Ixachi field
Mexico’s national oil company (NOC) Pemex has
DMEA: Luberef signs Yanbu expansion failed to uphold a pledge made last year to stop
deal with Petrojet flaring at Ixachi, one of the country’s major natu-
Saudi Aramco Base Oil Co. (Luberef) has signed ral gas fields, by mid-January of 2023, according
an engineering, procurement and construction to an exclusive report from Reuters. The state-
(EPC) contract with Egypt’s Petrojet for the owned company had pledged to halt flaring at
expansion of its Yanbu facility. The EPC deal Ixachi, which is located in Veracruz State, after
is part of the Growth II project, which aims to coming under growing environmental pressure.
expand the Yanbu facility’s base oil production
capacity to 1.3mn tonnes per year (tpy) by 2025, MEOG: Abraj signs PNZ deal
allowing it to produce more Group II and Group Oman’s state-owned Abraj Energy Services
III base oils to meet growing market demand. has signed a five-year deal to provide drilling
and extraction services in the Partitioned Neu-
EurOil: Essar unveils energy transition tral Zone (PNZ) shared between Kuwait and
investment plans Saudi Arabia. The agreement, which covers the
India’s Essar Group has created a new division to onshore Wafra oilfield, was signed between
focus on the energy transition, with projects in Abraj, Kuwait Gulf Oil Co. (KGOC) and Saudi
the UK set to play a leading role. The programme Arabian Chevron (SAC), which respectively rep-
will entail a $2.4bn investment in the UK and a resent Kuwait Oil Co. (KOC) and Saudi Aramco
$1.2bn investment in India. in the Wafra Joint Operations (WJO) area.

FSU OGM: Ukraine’s Naftogaz reports NorthAmOil: Low US gas prices upend
$1bn loss for 2022 acquisitions, drillers scale back rigs
According to the chairman of Naftogaz, Oleksiy The US may have seen a sudden uptick in gas
Chernyshov, the company has recorded a pre- prices since the third week of February, when
liminary net loss of around UAH40bn ($1.1bn) Henry Hub gas prices had plummeted around
for the year 2022, Interfax Ukraine reported on 78% since August 2022. But despite the sharp
March 2. During a Forbes Business Breakfast uptick, the six-month decrease in price has sty-
stream, Chernyshov revealed that the company’s mied deal-makers. ™

NRG Oil & Gas Editor’s Picks

See the archive and sign up to receive
NRG EDITOR’S PICKS

for free by email each week here.

P18 www. NEWSBASE .com Week 10 09•March•2023