Page 16 - NorthAmOil Week 20 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global Europe by more than a quarter this year, the
(NRG), in which the reader is invited to join company reported on May 16, despite a bump
our team of international editors, who provide a in its production over the same period. The
snapshot of some of the key issues affecting their state gas supplier’s exports to the so-called Far
regional beats. We hope you will like NRG’s new Abroad, referring to Europe plus Turkey, minus
concise format, but by clicking on the headline link countries of the former Soviet Union, reached
for each section the full text will be available as 55.9bn cubic metres between January 1 and May
before. 15, down 26.5% year on year.

AfrOil: Afreximbank, APPO aim to create GLNG: Hammerfest LNG opening again
new oil and gas financing avenue delayed
The African Export-Import Bank (Afrex- Equinor has again delayed the start-up of the
imbank) and the African Petroleum Producers Hammerfest LNG export project at Melkøya in
Organisation (APPO) are teaming up to establish Norway after a fault with a compressor was dis-
a new avenue of funding for oil and gas projects covered. The company said that extensive repairs
in Africa. In a statement, AEC said that Afrex- at Melkøya had been completed, but that the
imbank and APPO had signed a memorandum final run-up of the plant was taking somewhat
of understanding on the establishment of a new longer than planned.
pan-African energy bank during the CAPE VIII
conference in Luanda on May 16. LatAmOil: CGX not yet ready to declare
Kawa-1 commercial
AsianOil: Chinese refinery throughput Canada’s CGX Energy, the operator of the Cor-
down amid lockdowns entyne block offshore Guyana, is not yet ready to
Chinese refinery throughput was down 11% determine whether the hydrocarbon discovery
year on year in April, the latest data from the at the Kawa-1 well is commercially viable. Dr.
National Bureau of Statistics (NBS) have shown. Mark Zorback, CGX’s senior technical advisor,
According to the NBS, China’s crude throughput said during a virtual presentation last week that
totalled 51.81mn tonnes in April, equivalent to while results from the exploration well were
12.61mn barrels per day. very promising, the company and its partner
Frontera Energy had not reached a formal
DMEA: Borouge IPO details emerge conclusion.
In this week’s DMEA, we cover plans for the
IPO of chemicals firm Borouge and Eskom’s MEOG: Turkish drilling, Saudi results
fuel predicament. Abu Dhabi National Oil Co. In this week’s MEOG, we cover drilling plans
and Borealis this week announced plans for in Turkey and Aramco’s Q1 results. Turkish
the initial public offering of a 10% stake – 3bn Petroleum (TPAO) has announced plans this
shares – in their Borouge joint venture, which week to kick off Turkey’s largest ever drilling
will launch later this month on the ADX stock campaign as the company prepares to receive
market. Meanwhile, criticism has been levelled its fourth drillship. Meanwhile, Saudi Ara-
at South African power firm Eskom, which mco declared net income of $39.5bn, up 82%
this week said that it had resorted to burning year on year as it benefitted more than anyone
40mn litres of diesel this month just to remain from an average realised crude price of $97.7
operational. per barrel, an increase of more than $37 per
barrel y/y.
EurOil: Germany, Qatar at odds in LNG
talks NorthAmOil: Chevron sanctions Ballymore
Germany and Qatar are at odds over contract project in deepwater Gulf
terms over LNG supply, according to Reuters, Chevron announced on May 17 that it had taken
in particular regarding the latter’s preference for a final investment decision on the Ballymore
long-term contracts with destination clauses. project in the US Gulf of Mexico. The project
Germany has no regasification capacity and has a design capacity of 75,000 barrels per day of
relies on pipeline gas imports, mainly from oil and will be developed as a subsea tieback to
Russia. Chevron’s Blind Faith platform, the super-major
said.
FSUOGM: Gazprom slashes gas supply to
Europe by over a quarter YTD See the archive and sign up to receive NRG Editor’s
Russia’s Gazprom has slashed gas supplies to Picks for free by email each week here.™

P16 www. NEWSBASE .com Week 20 19•May•2022