Page 13 - GLNG Week 15 2022

DMEA NEWS IN BRIEF DMEA

A green light for Brazil to purchase
Iranian fertilizers would help the country
reduce its dependency on Russian supplies,
which account for around a third of Brazilian
imports of fertilizers.
Given the US sanctions that apply to
Iran, Brazilian firms are reportedly hesitant
to purchase Iranian fertilizers as doing such
business with Iran might provoke a reaction
from the US.
“There is a large surplus of fertilizers in
Iran, to which Brazilian importers have little
comply with regulations for operations can Murban, prized for its high middle access. What we do with Iran, in practice,
exit the local market. distillates content and similar in quality to is barter because we deposit the funds in
Daily Nation newspaper had earlier Russian Sokol and ESPO crude, is well sought an account in Brazil and Iran uses it to buy
reported that the State Directorate of after by refiners in Asia and the United States medical supplies and food. That is why I
Immigration had revoked Bergeron’s work which are ramping up output for diesel and negotiate with the United States a temporary
permit on Wednesday and ordered him to jet fuel. truce in this embargo so that Brazilian
leave Kenya on the back of acute shortage of Refining margins for these products soared companies can negotiate with Iran without
fuel that has persisted for days. to all-time highs as Western sanctions have suffering reprisals from the United States,”
Rubis Energy Kenya is a subsidiary of disrupted oil exports from Russia, the world’s Franca was reported as saying.
Rubis Energie, a unit of Paris Stock Exchange top crude and products exporter combined, NEWSBASE
listed Rubis Group. Rubis Energy is the while global inventories are at multi-year lows.
third-biggest petroleum marketer with an REUTERS
8.6 % share in Kenya after TotalEnergies and TERMINALS & SHIPPING
Vivo Energies. Rubis Energy is among OMCs Chinese consortium wins
accused of causing a shortage of fuel. Eni signs deal with Egypt to
Bergeron’s deportation followed Energy Iraqi gas processing deal
and Petroleum Regulatory Authority (EPRA) boost LNG exports to Europe
revelations that some OMCs were giving A consortium of China CAMC Engineering
priority to export loadings while the local Co (CAMCE) and CNOOC Petrochemical Italy’s Eni and Egyptian Natural Gas Holding
market was left to face intermittent supply. Engineering Co. (CNOOC Petrochemical Co. have signed a framework agreement to
NEWSBASE Engineering) has been awarded an boost natural gas production and liquefied
engineering, procurement, and construction natural gas (LNG) exports to Europe to the
contract worth $412 million by Kuwait tune of 3bn cubic metres in 2022, media
SUPPLY & PROCESSING Energy Basra Co (Kuwait Energy) for a 130 sources reported.
million standard cubic feet per day natural gas The importance of natural gas supplies
Glencore sells Emirati processing facility in Basra, Iraq. from Algeria and LNG supplies from Egypt
The gas processing facility is for the Block
for Eni, and Europe at large, has increased
Murban crude to Marathon 9 area operated by Kuwait Energy, CAMCE over the past couple of months as the
said in a Chinese language stock exchange
European Union tries to gain greater energy
Commodities trader Glencore has sold 1 statement on Wednesday, adding that the independence from natural gas supplied
million barrels of June-loading Murban contract duration is 30 months. from Russia in light of the latter’s invasion of
crude to U.S. refiner Marathon Petroleum In January 2022, the same consortium Ukraine.
Corp (MPC) in a rare deal, traders said was awarded a $594 million EPC contract by The two parties agreed to enhance
on Thursday, as more U.S. refiners seek Kuwait Energy for a 100,000 barrels per day Egyptian gas reserves by increasing jointly
replacements for Russian oil. crude oil processing facility. managed assets and identifying opportunities
The deal also comes as the economics of ZAWYA to maximise gas production in the short term.
moving Middle East crude to the US, the Under the agreement, Eni will also improve
world’s No. 2 crude importer, have become exploration campaigns in existing concessions
attractive, they said. PETROCHEMICALS and newly won areas in the Nile Delta, eastern
An MPC spokesperson said the company Mediterranean and Western Sahara regions.
does not typically discuss crude sourcing. Brazil keen to replace Egypt and Eni have a long history of
Glencore did not respond to a request for mutual support and co-operation that led to
comment. Russian fertilisers with Eni’s discovery of the super major Zohr gas
Murban is a flagship grade produced in field in the eastern Mediterranean in 2015.
Abu Dhabi in the United Arab Emirates, and Iranian The Italian company became part-owner of
is typically consumed in Asia. Damietta liquefaction plant last year, giving it
Up to 11 million barrels of Murban crude Carlos Franca, Brazil’s top diplomat, has a further stake in the value chain of Egyptian
is estimated to have traded in the spot market discussed purchasing fertilisers from Iran with natural gas deliveries to Europe.
over the past week after its spot premiums fell US counterpart Antony Blinken, Mehr News NEWSBASE
to the lowest in two months. Agency reported on April 12.

Week 15 14•April•2022 www. NEWSBASE .com P13