Page 15 - MEOG Week 20 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global long-term contracts with destination clauses.
(NRG), in which the reader is invited to join Germany has no regasification capacity and
our team of international editors, who provide a relies on pipeline gas imports, mainly from
snapshot of some of the key issues affecting their Russia.
regional beats.
By clicking on the headline link for each sec- FSUOGM: Gazprom slashes Europe supplies
tion the full text will be available. Russia’s Gazprom has slashed gas supplies to
Europe by more than a quarter this year, the
AfrOil: Africa’s new energy bank company reported on May 16, despite a bump
The African Export-Import Bank (Afrex- in its production over the same period.
imbank) and the African Petroleum Producers The state gas supplier’s exports to the
Organisation (APPO) are teaming up to estab- so-called Far Abroad, referring to Europe plus
lish a new avenue of funding for oil and gas pro- Turkey, minus countries of the former Soviet
jects in Africa. Union, reached 55.9bn cubic metres between
In a statement, AEC said that Afreximbank January 1 and May 15, down 26.5% year on year.
and APPO had signed a memorandum of
understanding on the establishment of a new GLNG: Another delay at Hammerfest LNG
pan-African energy bank during the CAPE VIII Equinor has again delayed the start-up of the
conference in Luanda on May 16. Hammerfest LNG export project at Melkøya
in Norway after a fault with a compressor was
AsianOil: Lockdowns hit Chinese refineries discovered.
Chinese refinery throughput was down 11% The company said that extensive repairs at
year on year in April, the latest data from the Melkøya had been completed, but that the final
National Bureau of Statistics (NBS) have shown. run-up of the plant was taking somewhat longer
According to the NBS, China’s crude than planned.
throughput totalled 51.81mn tonnes in April,
equivalent to 12.61mn barrels per day. LatAmOil: Kawa-1 not yet commercial
Canada’s CGX Energy, the operator of the Cor-
DMEA: Borouge IPO details emerge entyne block offshore Guyana, is not yet ready to
In this week’s DMEA, we cover plans for the determine whether the hydrocarbon discovery
IPO of chemicals firm Borouge and Eskom’s at the Kawa-1 well is commercially viable.
fuel predicament. Abu Dhabi National Oil Co. Dr. Mark Zorback, CGX’s senior technical
and Borealis this week announced plans for the advisor, said during a virtual presentation last
initial public offering of a 10% stake in their Bor- week that while results from the exploration well
ouge joint venture, which will launch later this were very promising, the company and its part-
month on the ADX stock market. ner Frontera Energy had not reached a formal
Meanwhile, criticism has been levelled conclusion.
at South African power firm Eskom, which
this week said that it had resorted to burning NorthAmOil: Ballymore gets green light
40mn litres of diesel this month just to remain Chevron announced on May 17 that it had taken
operational. a final investment decision on the Ballymore
project in the US Gulf of Mexico.
EurOil: Germany, Qatar at odds in LNG talks The project has a design capacity of 75,000
Germany and Qatar are at odds over contract barrels per day of oil and will be developed as
terms over LNG supply, according to Reuters, a subsea tieback to Chevron’s Blind Faith plat-
in particular regarding the latter’s preference for form, the super-major said.™

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