Page 17 - AsianOil Week 10 2023

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Oil & Gas Roundup During a Forbes Business Breakfast stream,
Global (NRG), in which the reader is invited he revealed that unprofitable activity was mostly
to join our team of international editors, who due to significant receivables that arose after the
provide a snapshot of some of the key issues state used Naftogaz’s working capital to meet the
affecting their regional beats. We hope you will energy supply needs of consumers.
like NRG's new concise format, but by clicking
on the headline link for each section the full text GLNG: Germany Eyes Fourth-Highest Glob-
will be available as before. al LNG Import Capacity By 2030
Germany is planning to top 70mn tonnes
AfrOil: Saipem CEO Sees Mozambique LNG per year (tpy) of liquefied natural gas (LNG)
Resuming Work In July 2023 import capacity by the end of the decade,
Alessandro Puliti, the CEO of the Italian Argus Media reports citing documents from
oilfield services provider (OSP) Saipem, says the German economic ministry (BMWK)
work on the Mozambique LNG project, led and planning applications from German
by France’s TotalEnergies, will resume this multinational energy utility RWE. The
summer. “We expect to gradually restart ambitious target would represent a more
the project, according to the information than twofold increase from its current import
received by our clients, starting from July capacity and catapult it into fourth spot
this year,” Puliti informed analysts during globally, trailing only China, Japan and South
Saipem’s 2022 earnings call on February 28. Korea.

LatAmOil: Pemex Fails To Uphold Pledge To
DMEA: Luberef Signs Yanbu Expansion Deal Halt Gas Flaring At Ixachi Field
Saudi Aramco Base Oil Co. (Luberef) has Mexico’s national oil company (NOC) Pemex
announced the signing of an engineering has failed to uphold the commitment it made
procurement and construction (EPC) contract late last year to stop flaring at Ixachi, one of
with Egypt’s Petrojet for the expansion of its the country’s major natural gas fields, by mid-
Yanbu facility. January of 2023, according to an exclusive
The EPC is part of Luberef’s Growth II report from Reuters.
project which aims to expand the Yanbu The state-owned company had pledged
facility’s base oil production capacity to to halt flaring at Ixachi, which is located in
around 1.3mn tonnes per year (tpy) by 2025, Veracruz state, after coming under growing
allowing it to produce more Group II and environmental pressure.
Group III base oils to meet growing market
demand. MEOG: Abraj Signs PNZ Deal
Oman’s state-owned Abraj Energy Services this
EurOil: Essar Unveils Energy Transition In- week signed a five-year deal to provide drilling
vestment Plans and extraction services in the Partitioned Neutral
India’s Essar Group has created a new division to Zone (PNZ) shared between Kuwait and Saudi
focus on the energy transition, with projects in the Arabia.
UK set to play a leading role. The deal, which covers the onshore Wafra
The programme will entail a $2.4bn oilfield, was signed between Abraj, Kuwait Gulf Oil
investment in the UK and a $1.2bn investment Co. (KGOC) and Saudi Arabian Chevron (SAC),
in India. The UK investment will be spent on the which respectively represent Kuwait Oil Co. (KOC)
Stanlow oil refinery, reducing industrial emissions and Saudi Aramco in the Wafra Joint Operations
in north-west England by about a fifth. The new (WJO) area.
investment plans will be undertaken by Essar
Energy Transition (EET). NorthAmOil: Low US Gas Prices Upend Ac-
quisitions, Drillers Scale Back Rigs
FSUOGM: Ukraine’s Naftogaz Makes $1bn The US may have seen a sudden uptick in gas
Loss In 2022 prices since the third week of February, when
According to the chairman of Naftogaz, Oleksiy Henry Hub gas prices had plummeted around See the archive and
Chernyshov, the company has recorded a 78% since August of 2022. sign up to receive
preliminary net loss of around UAH40bn But despite the sharp uptick, the six-month *NRG Editor’s Picks*
($1.1bn) for the year 2022, Interfax Ukraine decrease in price has been stymying deal- for free by email each
reported on March 2. makers. week here

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