Page 21 - AfrOil Week 20 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global Abroad, referring to Europe plus Turkey, minus
(NRG), in which the reader is invited to join our countries of the former Soviet Union, reached
team of international editors, as they provide a 55.9bn cubic metres between January 1 and May
snapshot of some of the key issues affecting their 15, down 26.5% year on year.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: Hammerfest LNG opening again
link for each section the full text will be available delayed
as before. Equinor has again delayed the start-up of the
Hammerfest LNG export project at Melkøya in
AsianOil: Chinese refinery throughput Norway after a fault with a compressor was dis-
down amid lockdowns covered. The company said that extensive repairs
Chinese refinery throughput was down 11% at Melkøya had been completed but that the final
year on year in April, the latest data from the run-up of the plant was taking somewhat longer
National Bureau of Statistics (NBS) have shown. than planned.
According to the NBS, China’s crude throughput
totalled 51.81mn tonnes in April, equivalent to LatAmOil: CGX not yet ready to declare
12.61mn barrels per day (bpd). Kawa-1 commercial
Canada’s CGX Energy, the operator of the Cor-
DMEA: Borouge IPO details emerge entyne block offshore Guyana, is not yet ready to
Abu Dhabi National Oil Co. (ADNOC) and determine whether the hydrocarbon discovery
Borealis this week announced plans for the ini- at the Kawa-1 well is commercially viable. Dr.
tial public offering (IPO) of a 10% stake – 3bn Mark Zorback, CGX’s senior technical advisor,
shares – in their Borouge joint venture, which said during a virtual presentation last week that
will launch later this month on the ADX stock while results from the exploration well were very
market. Meanwhile, criticism has been levelled promising, the company and its partner Frontera
at South African power firm Eskom, which Energy had not reached a formal conclusion.
revealed this week that it had resorted to burning
40mn litres of diesel this month just to remain MEOG: Turkish drilling, Saudi results
operational. Turkish Petroleum (TPAO) has announced plans
this week to kick off Turkey’s largest ever drilling
EurOil: Germany, Qatar at odds over LNG campaign as the company prepares to receive
Germany and Qatar are at odds over contract its fourth drillship. Meanwhile, Saudi Aramco
terms for LNG supply, particularly with respect declared net income of $39.5bn, up 82% year on
to the latter’s preference for long-term contracts year, as it benefitted more than anyone from an
with destination clauses, according to Reuters. average realised crude price of $97.7 per barrel,
Germany has no regasification capacity and an increase of more than $37 per barrel y/y.
relies on pipeline natural gas imports, mainly
from Russia. NorthAmOil: Chevron sanctions Ballymore
project in deepwater Gulf
FSU OGM: Gazprom slashes gas supply to Chevron announced on May 17 that it had taken
Europe by over 25% y/y a final investment decision on the Ballymore
Russia’s Gazprom has slashed gas supplies to project in the US Gulf of Mexico. The project has
Europe by more than a quarter this year, the a design capacity of 75,000 barrels per day (bpd)
company reported on May 16, despite a bump of oil and will be developed as a subsea tieback to
in its production over the same period. The Chevron’s Blind Faith platform, the super-major
state gas supplier’s exports to the so-called Far said. ™

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Week 20 18•May•2022 www. NEWSBASE .com P21