Page 16 - DMEA Week 26 2022

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global into the oil business after the breakup of the
(NRG), in which the reader is invited to join Soviet Union. He helped privatise Lukoil in the
our team of international editors, who provide a 1990s.
snapshot of some of the key issues affecting their
regional beats. GLNG: Nord Stream 2 expropriation?
By clicking on the headline link for each sec- Germany is considering repurposing parts of
tion the full text will be available. Russia’s unused Nord Stream 2 gas pipeline for
importing LNG, Der Spiegel magazine reported
AfrOil: NNPC shows increase in subsidies on June 27. The government in Berlin suspended
The Nigerian government spent nearly three the certification process necessary for Nord
times as much on domestic gasoline subsidies Stream 2 to flow gas, days before Moscow began
in the first five months of 2022 as it did in the its invasion of Ukraine.
same period of last year, according to Nigerian
National Petroleum Co. Ltd (NNPC Ltd). LatAmOil: Petrobras to take Guyana cargo
According to newly released data from Brazil’s national oil company Petrobras is due to
NNPC Ltd, Abuja paid out NGN1.274 tril- take delivery of its first cargo of Guyanese light
lion ($3.07bn) in gasoline subsidies between sweet crude for domestic refining before the end
January and May, 190.62% up on the figure of of this week.
NGN438.6bn ($1.06bn) recorded in the first five In a statement sent to Reuters, the company
months of 2021. confirmed that its first 1mn-barrel load of Guy-
anese oil had departed from the Liza-1 offshore
AsianOil: PetroChina weighs country exits field in mid-June.
State-owned PetroChina is reported to be con-
sidering exiting its investments in Australia and MEOG: Calls for more Gulf oil output
Canada in a bid to divert funds to more profita- This week, MEOG includes coverage of calls
ble opportunities elsewhere. for oil producers to increase output while ser-
This follows a similar shift in focus for vices firms take Baghdad’s side in its battle with
another Chinese state-owned company, the KRG. French officials this week called for
CNOOC Ltd, which was reported in April to be oil-producing countries to increase output,
preparing to exit its operations in the US, UK while suggesting that exports from Iran and Ven-
and Canada. ezuela should be allowed to return to the market.
Meanwhile, Baker Hughes, Halliburton and
EurOil: UK mulls lower-calorific gas use Schlumberger this week informed Iraq’s Minis-
The UK is looking to ease rules on the quality of try of Oil that they would heed Baghdad’s warn-
natural gas in an effort to incentivise the devel- ing not to engage further with the Kurdistan
opment of extra North Sea supply, the Telegraph region’s energy sector.
gas reported.
The proposal would allow lower-calorific NorthAmOil: Resources and confusion
gas to be pumped into the UK’s pipeline system, This week’s NorthAmOil covers a major resource
meaning it can maximise resource recovery. boost for a Canadian oilfield and accusations
and claims about the auction of a Caribbean
FSUOGM: Fedun leaves Lukoil refinery. Canada’s offshore Hibernia oilfield
The long-serving vice president of Russia’s big- could contain nearly 346mn barrels more than
gest private oil producer Lukoil has stepped previously thought, according to a new resource
down from the position, the company reported estimate by the local regulator.
on June 27, citing his reaching retirement age Meanwhile, amid confusion and accusations
and family circumstances. of impropriety in a recent auction to acquire the
Leonid Fedun, a major Lukoil shareholder Limetree Bay Refinery on the island of St. Croix,
estimated by Forbes to have an $8.2bn fortune, a group of known investors said this week that it
was a former Russian military officer that went remains keen to assume ownership.™

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P16 www. NEWSBASE .com Week 26 30•June•2022