Page 13 - NorthAmOil Week 29 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global FSUOGM: Power of Siberia 2 construction
(NRG), in which the reader is invited to join to begin in 2024, says Mongolia
our team of international editors, who provide a Mongolian Prime Minister Oyun-Erdene
snapshot of some of the key issues affecting their Luvsannamsrai has said he expects construction
regional beats. We hope you will like NRG’s new of the Power of Siberia 2 gas pipeline to begin
concise format, but by clicking on the headline link in the landlocked country in 2024, and for gas
for each section the full text will be available as flow to start in 2030. Moscow is scrambling to
before. develop alternative export routes for its substan-
tial gas reserves, as Europe, its largest market,
AfrOil: DRC raises number of blocks in li- pushes to eliminate Russian gas imports.
censing round to 30
The Democratic Republic of Congo (DRC) GLNG: Bulgaria’s Overgas signs MoU for
has increased the number of blocks included US LNG
in an upcoming licensing round from 16 to 30, Bulgaria’s Overgas, part-owned by US-based
Minister of Hydrocarbons Didier Budimbu Linden Energy, has signed a memorandum of
announced on July 18. In a Twitter post, understanding with US LNG ship operator on
Budimbu said his ministry would start accept- acquiring 1bn cubic metres per year of natural
ing bids for 27 potentially oil-bearing blocks and gas from the latter’s planned regasification ter-
three potentially gas-bearing blocks in Lake Kivu minal in Vlora in south Albania. The deal paves
on July 28-29. the way for the two sides to negotiate a 10-year
sales and purchase agreement for the gas supply.
AsianOil: CNOOC launches self-developed
Christmas tree system, unveils bidding LatAmOil: South American fuel imports
round rise as asphalt shipments drop
China National Offshore Oil Corp. (CNOOC) The volume of refined petroleum products deliv-
has launched its first self-developed subsea ered to Brazil and Argentina has been climbing
Christmas tree system in the Bohai Sea, Chinese this month, as South American fuel traders seek
media have reported. The state-owned com- to cover the seasonal rise in demand during the
pany said in a separate announcement that it Southern Hemisphere’s summer harvest season
was offering 13 offshore oil and gas blocks up for and inventory build-up ahead of the heating
bidding by foreign companies in 2022. season. According to shipping and commodity
tracking data compiled by S&P Global Platts, the
DMEA: Additions awaited amid refining number of cargoes bound for Brazil hit 42 as of
shortfall July 19.
Saudi Arabia’s Foreign Minister has called for
greater investment in the conversion of oil into MEOG: Iran signs $40bn Gazprom deal
products, but said crude supplies are not in short In this week’s MEOG, Iran seals a major foreign
supply. “As of today, we don’t see a lack of oil in direct investment deal from Russia’s state gas
the market. There is a lack of refining capacity, giant. The National Iranian Oil Co. (NIOC) and
which is also an issue, so we need to invest more Russia’s Gazprom this week signed a memo-
in refining capacity,” Prince Faisal bin Farhan randum of understanding covering investment
Al Saud said during a visit to Tokyo. The prince worth around $40bn. The deal was signed by
also spoke of Russia’s importance to oil market NIOC CEO Mohsen Khojastehmehr and Gaz-
stability. prom deputy chairman Vitaly Markelov and will
include field development, product swaps and
EurOil: Uniper seeks $2bn boost in credit the completion of midstream projects, including
line LNG facilities and pipelines.
German energy giant Uniper announced on
July 18 it was seeking an increase in a €2bn NorthAmOil: Halliburton posts improved
($2.04bn) state credit line, after drawing down results
the full amount to deal with the financial fall- In this week’s NorthAmOil, we look at oilfield
out from reduced Russian gas supply. Uniper services giant Halliburton’s Q2 results announce-
has filed an application to increase the line with ment. The company, unencumbered by a $344mn
state bank KfW, and earlier this month also write-down from the closure of its Russian assets,
applied for the German government to intro- posted a 41% increase in Q2 profit compared to
duce emergency stabilisation measures, which the first quarter, driven by higher demand for
would allow the company to pass on increased drilling on the back of buoyant oil prices.
procurement costs to customers, and secure a
bailout that would give the government a stake See the archive and sign up to receive NRG Editor’s
in the company. Picks for free by email each week here.™

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