Page 16 - FSUOGM Week 12 2023

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Oil & Gas Roundup EU’s green transition. Project Greensand is
Global (NRG), in which the reader is invited Europe’s first cross-border carbon capture and
to join our team of international editors, who storage (CCS) initiative to start operations.
provide a snapshot of some of the key issues
affecting their regional beats. We hope you GLNG: Qilak LNG plans $5bn LNG facility in
will like NRG's new concise format, but by Alaska
clicking on the headline link for each section Qilak LNG has revealed it is seeking to build
the full text will be available as before. a 4mn tonne per year LNG export terminal
in Alaska’s North Slope, to be completed by
AfrOil: DRC licensing round attracts green the end of the decade. The announcement
investor from the company’s chief executive comes
An unconventional candidate has entered the as large LNG importers in East Asia look to
onshore bidding round launched last July by wean themselves off Russian gas following its
the Democratic Republic of Congo (DRC) – invasion of Ukraine.
EQX Biome, a US-based investment firm that
focuses on preserving biodiversity. The fund LatAmOil: Pemex exploring options for
has reportedly submitted offers for all 27 of repaying debts in 2023-2024
the potentially oil-bearing blocks included in Mexico’s national oil company Pemex is
the licensing round. currently exploring options for repaying its
heavy load of debts that are due to mature
AsianOil: Petronas enjoys profit bump from in 2023 and 2024, according to the firm’s
high prices, increased sales volumes CEO, Octavio Romero Oropeza. In an
Malaysia’s Petronas reported on March 13 a interview with Reuters, Romero said that
55% climb in profits for the first quarter on the NOC might offer lenders guarantees
the back of higher prices and increased sales backed by crude oil but was considering other
volumes. However, the state-owned LNG possibilities too.
exporter warned that prices would be more
subdued this year as a result of a forecasted MEOG: IDC completes well at East Baghdad
slowdown in the global economy. The Iraqi Drilling Co. (IDC) announced
last week that it had completed the drilling
DMEA: Building begins on Shaheen project of a well at the East Baghdad oilfield, to the
A ceremony was held last week in south-east of the capital city. In a statement,
Ulsan, South Korea, to mark the start the company said that its technical and
of work on the $7bn Shaheen integrated engineering teams had drilled the EBS-H-18
petrochemical plant located in Onsan well to a depth of 3,509 metres, noting that
Industrial Complex. South Korean major it was the first of a 27-well drilling campaign
S-Oil Corp. plans to start commercial targeting the field for its Chinese operator
operation of the plant in 2026, and noted EBS – a local Iraqi subsidiary of China
that the facility will produce around ZhenHua Oil Co. Ltd, itself a subsidiary of the
3.2mn tonnes per year of petrochemical state-owned China North Industries Group
products including ethylene, propylene (Norinco).
benzene and butadiene from feedstocks
naphtha and off-gas. NorthAmOil: ConocoPhillips' Alaska Willow
project okayed, more of Arctic off-limits to oil
EurOil: INEOS, Wintershall Dea launch leasing
Greensand CCS project The Biden administration has approved
European energy companies INEOS and a scaled-back version of ConocoPhillips’
Wintershall Dea began injecting CO2 $7bn Willow project in Alaska, the US See the archive and
under the North Sea bed as part of Project Department of Interior said on March 13. sign up to receive
Greensand on March 8, with European But as a compromise, the administration has *NRG Editor’s Picks*
Commission President Ursula von der at the same time put more of the US Arctic for free by email each
Leyen hailing the event as a milestone in the off-limits to oil and gas drilling. week here

P16 www. NEWSBASE .com Week 12 21•March•2023