Page 17 - LatAmOil Week 09 2022

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global Donetsk and Lugansk as independent, while
(NRG), in which the reader is invited to join German Chancellor Olaf Scholz announced that
our team of international editors, who provide a his government would halt the certification pro-
snapshot of some of the key issues affecting their cess necessary for the pipeline to start up.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline FSU OGM: TotalEnergies to remain in
link for each section the full text will be available Russia despite Ukrainian invasion
as before. French oil major TotalEnergies has said it
intends to stay put in Russia despite Moscow’s
AfrOil: Venus-1x may be sub-Saharan invasion of Ukraine, although it has said it will
Africa’s largest oil find not invest in any new projects in the country.
UK-based Wood Mackenzie has speculated TotalEnergies has shown greater restraint in its
that the Venus discovery announced last week response to events in Ukraine than its European
by TotalEnergies (France) at the PEL 56 licence peers BP, Equinor and Shell, which have all said
area offshore Namibia may be the largest oil find they intend to exit Russia altogether.
ever made in sub-Saharan Africa. In a confiden-
tial report, the consultancy said that in light of GLNG: Shell, PipeChina sign terminal use
results from the Venus-1x wildcat well, it now agreement
“conservatively estimates recoverable oil vol- Subsidiaries of Shell (UK) and China Oil & Gas
umes of over 3bn barrels,” the report said. Pipeline Network, known as PipeChina, have
signed a memorandum of co-operation (MoC)
AsianOil: JERA to pursue LNG-to-power and two terminal use agreements. The terminal
project in Vietnam user agreements with Shell Energy (China) are
Japan’s JERA announced on March 1 that it had for two LNG receiving facilities, Yuedong LNG
kicked off full-scale operations in Vietnam. The and Beihai LNG, for this year.
company, a 50:50 joint venture between utilities
Tokyo Electric Power Co. (TEPCO) and Chubu MEOG: Aramco makes gas finds
Electric Power, intends to pursue LNG-to-power Saudi Aramco has discovered new gas fields in
projects through its new Vietnamese unit. four regions of the Kingdom, boosting the size
of its conventional and unconventional gas
DMEA: Asset sales and petchem plans reserves. Meanwhile, Oman’s Ministry of Energy
Bahrain’s Oil & Gas Holding Co. (nogaholding) and Mineral Resources (MoEM) is holding
is hiring a team of advisors to work on plans to talks with Shell and TotalEnergies regarding a
monetise oil and gas assets, according to the potential deal to develop gas from the Sultanate’s
company’s CEO. Meanwhile, Iran’s state petro- Block 11 concession, expanding a December
chemical firm intends to more than double the agreement.
country’s supply of feedstock for petrochemical
projects by the end of the decade. NorthAmOil: IEA members to release
60mn barrels amid Ukraine conflict
EurOil: Nord Stream 2 becomes insolvent International Energy Agency (IEA) member
The Swiss-based operator of Russia’s beleaguered states, led by the US, agreed on March 1 to a
Nord Stream 2 gas pipeline project has become co-ordinated release of crude oil from emer-
insolvent, a Swiss official said on March 1. The gency stockpiles. The decision comes in the wake
US slapped Nord Stream 2 with additional sanc- of Russia’s invasion of Ukraine last week and will
tions last week in response to Russia’s recogni- result in 60mn barrels of oil being released onto
tion of eastern Ukraine’s breakaway regions of the market. ™

NRG Oil & Gas Editor’s Picks

See the archive and sign up to receive
NRG EDITOR’S PICKS

for free by email each week here.

Week 09 03•March•2022 www. NEWSBASE .com P17