Page 16 - NorthAmOil Week 08 2023

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global Khazar and Auezov blocks in the Kazakh Cas-
(NRG), in which the reader is invited to join pian Sea. The agreements set out the rights and
our team of international editors, who provide a obligations that Lukoil would have as a subsoil
snapshot of some of the key issues affecting their user at the blocks in partnership with KMG.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline link GLNG: LNG demand soars in Baltics as
for each section the full text will be available as region continues pivot away from Russian
before. gas
Baltic countries are securing liquified natural
AfrOil: Galp agrees to sell Angolan up- gas in vast quantities seeking to take advantage
stream assets to Somoil for $830mn of falling gas prices as the northern European
Portugal’s Galp has arranged to sell its upstream nations accelerate the diversification of their
assets in Angola to Sociedade Petrolífera Ango- energy supply after quitting Russian gas fol-
lana (Somoil), a local company, for a total con- lowing the invasion of Ukraine. With gas prices
sideration of approximately $830mn after capital plummeting by over 80% since peaking in
gains taxes. Galp announced the deal on Febru- August, LNG cargoes have become increasingly
ary 13, saying it had already signed an agreement attractive compared to alternatives such as fuel
with Somoil. oil and coal.

AsianOil: Increased LNG orders in China LatAmOil: Pemex’s legacy refineries con-
mask rural shortages tinue to underperform
Despite much being made of China’s post- Mexico’s national oil company Pemex fell
COVID recovery and increased LNG orders short of its goals for boosting refining capac-
of late, the increase in gas flows to China is also ity utilisation in 2022 and is likely to continue
needed to help alleviate shortages in some of the doing so in 2023-2024, despite ongoing efforts
country’s more rural areas. The nation’s Hebei to improve performance. As Mexico Busi-
Province, a large pocket of land surrounding ness News noted on February 9, Pemex said
Beijing, is a prime example. previously that it hoped to see its six existing
refineries – Cadereyta, Madero, Minatitlan,
DMEA: Cabinda tests to begin in December Salamanca, Salina Cruz and Tula – boost
The developer of Angola’s Cabinda refinery said capacity utilisation to 1.375mn barrels per day
this week that the project is expected to be com- in 2023 and 2024.
pleted by the end of the year, with test runs due
to begin in mid-December. Speaking during a MEOG: IDC completes another Zubair well
press conference last week, Marcus Weyll, direc- The state-owned Iraqi Drilling Co. (IDC) this
tor-general of UK-based Gemcorp, said that his week announced that it has completed drilling
company is committed to commissioning the well 579 at the Zubair oilfield in the south-east of
refinery’s first phase during Q4, and will swiftly the country. Speaking to the Iraqi News Agency
move forward with work on the second and third (INA), an IDC spokesperson said that “technical
phases. and engineering personnel have completed drill-
ing the directional oilwell Zubair 579 at a depth
EurOil: Imports of Russian gas to Czechia of 2,472 metres.”
dropped to zero in January
Russian gas imports to Czechia dropped to zero NorthAmOil: Equinor receives licence for
in January, Minister of Industry and Trade Jozef discovery off Newfoundland
Sikela said on Twitter. Until recently, Czechia The Canada-Newfoundland and Labrador Off-
has been one of the countries in the EU most shore Petroleum Board (C-NLOPB) has issued
dependent on Russian energy. a licence to Equinor for the Cappahayden K-67
discovery in the province’s waters. The board
FSUOGM: Lukoil signs deal to develop estimates that it holds about 385mn barrels of
Caspian fields off Kazakhstan recoverable oil.
Russia’s Lukoil has signed several deals with
Kazakhstan’s state-owned KazMunayGas See the archive and sign up to receive NRG Editor’s
(KMG) on developing the Kalamkas-Sea, Picks for free by email each week here.™

P16 www. NEWSBASE .com Week 08 23•February•2023