Page 14 - NorthAmOil Week 19 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global FSUOGM: Russia puts Nord Stream 2 to
(NRG), in which the reader is invited to join work for domestic market
our team of international editors, who provide a Russia has announced it will use the onshore sec-
snapshot of some of the key issues affecting their tion of the Nord Stream 2 gas pipeline to serve
regional beats. We hope you will like NRG’s new domestic demand, after Germany put the export
concise format, but by clicking on the headline link project on hold in response to Moscow’s actions
for each section the full text will be available as in Ukraine. Gazprom said on May 5 it would use
before. the 55bn cubic metre per year pipeline’s onshore
facilities to work in expanding gas supplies to
AfrOil: South Sudan plans slow-motion na- customers in north-west Russia.
tionalisation of oil sector
Awow Daniel Chuang, the undersecretary GLNG: Mitsui writes down value of Russian
of South Sudan’s Ministry of Petroleum, said LNG investments
on May 6 that Nilepet, the national oil com- Japan’s Mitsui & Co. said that it had written down
pany, had begun the process of taking over the value of its investments in two Russian LNG
the projects now led by foreign investors. projects by a combined JPY80.6bn ($617mn). The
Speaking to reporters in Juba, Chuang said company reduced the value of its 12.5% stake in
South Sudan wanted to gain more control the Sakhalin-2 oil and LNG project by JPY44.1bn
over its own oil industry so that it could col- ($338mn) and cut the value of its investments in
lect a larger share of revenues, even if output the under-construction Arctic LNG 2 project by
levels sink. JPY36.4bn ($279mn).

AsianOil: Chinese yards to stop work on LatAmOil: Chevron seeks new opportuni-
modules for Arctic LNG 2 ties offshore Brazil
Chinese yards are reportedly set to halt work Chevron is looking for openings to invest in
on modules for the Novatek-led Arctic LNG 2 major new projects in Brazil’s offshore zone,
project in Russia by the end of May. This comes according to Mariano Vela, the US major’s
amid increasingly strict Western sanctions tar- country manager. Speaking on the sidelines
geting the Russian economy – including the of an industry conference last week, Vela said
country’s energy sector – in the wake of the war Chevron was “in the means of looking for new
in Ukraine. opportunities.”

DMEA: Duqm study and Iran dealing MEOG: Energean makes East Med find
In this week’s DMEA, we cover progress In MEOG this week we cover the discovery of
towards the development of a private refinery significant gas resources in the Eastern Mediter-
in Oman and Iran’s efforts to sign downstream ranean. London and Tel Aviv-listed Energean
deals in Latin America.Canadian firm Genoil this week announced a commercial gas discov-
announced this week that it has completed a ery that it intends to tie back to facilities already
“bankable feasibility study” for the development being deployed to develop existing reserves.
of a private 200,000 barrel per day upgrading Meanwhile, Iran and Russia are set to improve
refinery at the Omani port of Duqm. Meanwhile, bilateral ties in the fields of oil and finance as
following high-level meetings in Venezuela last both countries face a shrinking pool of potential
week, Iran has said it is considering investing in partners.
a new refinery in Nicaragua while inviting Bra-
zilian companies to invest in its petrochemicals NorthAmOil: Canada in talks on expediting
sector. East Coast LNG exports
The Canadian government is in talks with the
EurOil: Longboat clinches second Norwe- developers of two proposed LNG export ter-
gian farm-in deal minals on Canada’s East Coast to see whether it
North Sea-focused junior Longboat Energy has can help expedite those projects, it emerged last
announced a second farm-in deal off the coast week. Canadian Minister of Natural Resources
of Norway, involving it in a two-well exploration Jonathan Wilkinson told Reuters that Ottawa
campaign due to take place in 2022 and 2023. was in discussions with Pieridae Energy and
Longboat has acquired 20% stakes in three Repsol over terminals in Nova Scotia and New
licences in the Norwegian North Sea containing Brunswick respectively.
the Oswig and Velocette prospects from their
operator, Austria’s OMV, which will retain 40% See the archive and sign up to receive NRG Editor’s
stakes in the projects. Picks for free by email each week here.™

P14 www. NEWSBASE .com Week 19 12•May•2022