Page 21 - AfrOil Week 10 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global in Ukraine, after drawing criticism for purchas-
(NRG), in which the reader is invited to join our ing a discounted cargo of Russian Urals blend.
team of international editors, as they provide a Shell is one of several international oil companies
snapshot of some of the key issues affecting their that have announced their intent to leave Russia
regional beats. We hope you will like NRG’s new in response to Moscow’s actions in Ukraine.
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: Venture Global expands supply
as before. partnership with Shell
Venture Global LNG announced on March 7
AsianOil: Outage reported at Malaysia that it had struck a new long-term sales and pur-
LNG Satu chase agreement with Shell for offtaking from its
An unplanned outage occurred at the Malaysia proposed Plaquemines liquefaction terminal on
LNG (MLNG) Satu – part of the country’s nine- Louisiana’s Gulf Coast. The 20-year deal covers
train Bintulu LNG complex – last week. The out- 2mn tonnes per year and brings Shell’s total long-
age is reported to have resulted from a leak that term offtake commitments from Venture Glob-
led to the second train being taken offline. al’s terminals to 4mn tpy.

DMEA: Different approaches to refining LatAmOil: Tradener makes Brazil’s first
Iran’s Ministry of Petroleum (MoP) announced private deal for Bolivian gas
this week that it has received budgetary approval Tradener has become the first privately owned
to add 300,000 barrels per day of refining capac- Brazilian firm to buy natural gas directly from
ity, with private sector and foreign investment Bolivia, without the national oil company Petro-
likely to be sought. Meanwhile, Israel’s cabinet bras acting as an intermediary. In a statement,
this week voted unanimously in favour of clos- Tradener said it had signed a contract with
ing refining facilities owned by the local Bazan YPFB, Bolivia’s NOC, for the purchase of 2.2mn
Group as the country pushes to promote clean cubic metres per day over a period of two years.
energies as a major gas field was connected to
the grid. MEOG: Iran talks up oil investment
The Iranian government this week said it would
EurOil: Gas prices skyrocket amid ongoing invest $4bn in oil and gas projects in the south-
Ukrainian conflict ern Khuzestan Province as the sums promised
The front-month gas price at the Dutch TTF for investment continue to spiral. Meanwhile,
hub spiked at close to $4,000 per 1,000 cubic the onshore-focused arm of state-owned Abu
metres on March 7, amid the escalating conflict Dhabi National Oil Co. (ADNOC) this week
in Ukraine that has built on top of an existing announced the award of a contract to carry out
energy crunch crisis in Europe. The April con- enhanced oil recovery work at the Emirates’ key
tract at the hub briefly settled at €345 per 1,000 Bab oilfield.
cubic metres at around 08:30 GMT, equivalent to
$3,990 per cubic metres. Its average for the day NorthAmOil: US bans imports of Russian
was €227. oil and gas
US President Joe Biden announced on March 8
FSU OGM: Shell pledges profits from that his country was banning imports of Russian
Russian oil for Ukrainian aid crude oil and natural gas, as well as coal. This
Shell announced on March 5 it was placing all comes as the US government tightens its sanc-
profits that it earns from Russian oil it purchases tions against Russia in response to Moscow’s
into a fund that will go towards humanitarian aid invasion of Ukraine. ™

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.

Week 10 09•March•2022 www. NEWSBASE .com P21