Page 13 - FSUOGM Week 13 2022

FSUOGM NEWS IN BRIEF FSUOGM

West over the Ukraine war and sanctions and private Ukrainian companies had in the deal produced 680,000 bpd less
brought in in response to it. decreased by 15%. than their overall quota, and non-OPEC
“Ukrgazvydobuvannya froze certain countries lifted 373,000 bpd less, in total
facilities in the Kharkiv region, in the 1.05mn bpd less. In general, non-OPEC
Canadian Calfrac Well part closer to the east,” Halushchenko countries increased production by January
only by 57,000 bpd, up to 15.7mn bpd,
said. “[Ukrgazvydobuvannya] stopped
pauses investment and production. There were several OPEC countries' rose by 266,000 bpd, up
to 24.1mn bpd, i.e., a total gain of 328,000
situations in the first or second week
supplies to Russia of the war, when shells began to hit bpd. According to the current plan, oil
Shebelinka, and they gradually began
production quotas by OPEC+ countries are
Canadian oil servicing company Calfrac to preserve. Now production has fallen increased every month by 400,000 bpd.
Well Services has announced the by about 15% across the country. This Of the OPEC countries in February, the
suspension of any investments, supplies of is if Ukrgazvydobuvannya and private "outsiders" are still Angola and Nigeria,
equipment and components to Russia “in companies are taken together.” which produce less than the established
strict compliance with all applicable laws Forty of Ukraine’s gas distribution quotas by 250,000 bpd and 300,000 bpd
and sanctions.” stations have been taken out of action respectively. Saudi Arabia, Republic
Calfrac provides specialised oilfield by the conflict. However, Ukraine’s GTS of Congo and Equatorial Guinea were
services to exploration and production operator still managed to transport 93.5mn producing about 30,000 bpd below the
companies designed to increase the cubic metres of gas on 24 March agreed level.
production of hydrocarbons from wells Poland’s gas grid operator, Gaz- Almost half of the volume not produced
drilled throughout western Canada, the System, offered Ukraine capacity to allow by the OPEC+ countries is accounted for
United States, Argentina and Russia. gas imports via the Polish grid and its by Russia, which in February produced
Previously oilfield service majors Ukrainian peer GTSOU earlier this month. 170,000 bpd below the established quota
Weatherford, Baker Hughes and (deal compliance 122%). The rest fell on
Schlumberger have announced scrapping Malaysia (130,000 bpd less) and Azerbaijan
all new investment in Russia following the Malaysian company to build (90,000 bpd less). Mexico, which does not
fourth sanction package of the European formally participate in the alliance, but is
Union banning investment in the energy gas processing complex in considered to be in the overall quota, is
sector. producing 60,000 bpd below the agreed
The US service major Halliburton said Kazakhstan’s Mangystau level. Kazakhstan once again exceeded the
it would cease operations in the country. established level of production, by 70,000
Region bpd.

Ukraine's coal and gas Kazakhstan’s state-run investment Timeframe for Azerbaijani
promotion company Kazakh Invest held a
production takes a major hit meeting with the management of Malaysian
firm Markmore Energy and Kazakhstan’s
Russia’s invasion of Ukraine has affected CaspiOilGas to discuss a project for the gas suppliy to Bulgaria via
the country’s coal and gas production, construction of a gas processing complex in IGB revealed
Ukraine Business News reported on March Mangystau Region, Kazakh Invest said in a
29. statement. The export of declared oil from Azerbaijan
Ukraine’s coal production decreased Chairman and major shareholder of The long-awaited gas pipeline to transport
by 30%, and gas production by 15%, Markmore Energy Tan Sri Halim Saad natural gas from Greece to Bulgaria will
Energy Minister Herman Halushchenko spoke about plans to build and develop the be ready at the end of June and will begin
announced. complex on one of the largest gas fields in operation in September 2022, according
This is due to the flooding of two coal Mangistau Region with a total investment to Bulgarian Prime Minister Kirill Petkov.
mines in Zolote and Toshkivska, Luhansk value of $485mn, of which around $285mn According to him, the Greece-Bulgaria
Oblast, as well as major transportation would be allocated for construction works. pipeline will help reduce Bulgaria's
issues. The meeting was part of a visit by dependence on Russian gas.
Ukraine’s coal-rich regions are in the Malaysian investors to Kazakhstan. At present, Bulgaria meets almost all
east of the country, particularly in the of its domestic gas consumption through
Donbas and Dnipro regions where heavy imports from Russia's Gazprom. The
fighting and shelling have damaged Oil production in Azerbaijan pipeline fits into Europe's renewed efforts
infrastructure including railways, making to end dependence on Russian gas, a key
it hard to export coal. lowered by 90,000 bpd priority in Europe's latest policy since
Australia has announced it will provide Russia's invasion of Ukraine.
70,000 tonnes of coal to Ukraine, at the OPEC+ countries fulfilled the production The €220mn Greece-Bulgaria
request of the Ukrainian government, quota agreement in February by 136%, of Interconnector (IGB) was planned to be
in order to support the country’s coal which OPEC countries, by 136%, and non- completed by 2020, but the project has
depletion, according to Epravda. OPEC countries, by 135%, according to the faced a number of administrative obstacles
Moreover, Halushchenko told Epravda alliance's report on 28 March. in recent years, resulting in a long delay.
that natural gas production by state Thus the OPEC countries participating According to the media, there is hope that

Week 13 30•March•2022 www. NEWSBASE .com P13