Page 19 - LatAmOil Week 20 2022

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global with destination clauses, according to Reuters.
(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 natural gas imports, mainly
snapshot of some of the key issues affecting their from Russia.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline FSU OGM: Gazprom slashes gas supply to
link for each section the full text will be available Europe by over 25% y/y
as before. Russia’s Gazprom has slashed gas supplies to
Europe by more than a quarter this year, the
AfrOil: Afreximbank, APPO aim to create company reported on May 16, despite a bump
new oil and gas financing avenue in its production over the same period. The
The African Export-Import Bank (Afrex- state gas supplier’s exports to the so-called Far
imbank) and the African Petroleum Producers Abroad, referring to Europe plus Turkey, minus
Organisation (APPO) are teaming up to estab- countries of the former Soviet Union, reached
lish a new avenue of funding for oil and gas 55.9bn cubic metres between January 1 and May
projects in Africa. In a statement, AEC said that 15, down 26.5% year on year.
Afreximbank and APPO had signed a memo-
randum of understanding on the establishment GLNG: Hammerfest LNG opening again
of a new pan-African energy bank during the delayed
CAPE VIII conference in Luanda on May 16. 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 MEOG: Turkish drilling, Saudi results
12.61mn barrels per day (bpd). Turkish Petroleum (TPAO) has announced
plans to kick off Turkey’s largest ever drilling
DMEA: Borouge IPO details emerge campaign as the company prepares to receive
Abu Dhabi National Oil Co. (ADNOC) and its fourth drillship. Meanwhile, Saudi Aramco
Borealis this week announced plans for the ini- declared net income of $39.5bn, up 82% year on
tial public offering (IPO) of a 10% stake – 3bn year, as it benefitted more than anyone from an
shares – in their Borouge joint venture, which average realised crude price of $97.7 per barrel,
will launch later this month on the ADX stock an increase of more than $37 per barrel y/y.
market. Meanwhile, criticism has been levelled
at South African power firm Eskom, which NorthAmOil: Chevron sanctions Ballymore
revealed this week that it had resorted to burning project in deepwater Gulf
40mn litres of diesel this month just to remain Chevron announced on May 17 that it had taken
operational. a final investment decision (FID) on Ballymore,
a project in the US Gulf of Mexico. The project
EurOil: Germany, Qatar at odds over LNG has a design capacity of 75,000 barrels per day
Germany and Qatar are at odds over contract (bpd) of oil and will be developed as a subsea
terms for LNG supply, particularly with respect tieback to Chevron’s Blind Faith platform, the
to the latter’s preference for long-term contracts super-major said. ™

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