Page 15 - MEOG Week 21 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global departure from the board on May 20. Accord-
(NRG), in which the reader is invited to join ing to a company statement, the chairman has
our team of international editors, who provide a informed Rosneft that he is not able to extend
snapshot of some of the key issues affecting their his term.
regional beats.
By clicking on the headline link for each sec- FSU OGM: New business for Sovcomflot
tion the full text will be available. Russia’s state-owned tanker operator Sovcom-
flot (SCF) is still attracting plenty of business,
AfrOil: Germany, Senegal talk gas with a surge of recent bookings from Russian
Natural gas projects were among the key items oil producers partially making up for the loss
on the agenda at a meeting between German of Western clients in the wake of the invasion of
Chancellor Olaf Scholz and Senegalese Presi- Ukraine, according to a report from Bloomberg.
dent Macky Sall. SCF, the owner of the world’s largest fleet of
Scholz, who kicked off his first state visit to mid-sized crude oil carriers, saw a large por-
Africa on May 22, said Germany was very keen tion of its fleet go underutilised in the first two
on working with Senegal to develop local gas months after the outbreak of war in Ukraine.
fields, produce LNG and make use of renewable
energy resources. GLNG: Grain LNG rates hit record highs
The Grain LNG terminal in the UK posted
AsianOil: Oz election spells uncertainty record gas send-out levels in April, as high
Australia’s federal election, held on May 21, has demand for gas from Europe pushed utilisation
resulted in a change of government following a rates up, with LNG tankers having arrived from
victory by the Australian Labor Party (ALP). eight new countries since January.
Results were still being counted as of May The terminal saw its highest ever utilisation
24 and it was unclear whether the ALP would rate in April, sending out an average of 431 GWh
have an outright majority in the House of per day, higher than the previous high of 412.2
Representatives. GWh in April 2021.

DMEA: Nigeria’s grand refining plans LatAmOil: Petrobras may require more LNG
This week, DMEA looks at Nigeria’s ambitious Brazil’s national oil company Petrobras has
plans for refining expansion amid calls for the said it may need to import more LNG due to an
build-out of the country’s midstream. unexpected cut in shipments of natural gas from
Looking to support local communities, cre- Bolivia. Petrobras noted in a statement that sup-
ate jobs, shelter the country from fuel market ply concerns had arisen as a consequence of the
volatility and wean itself off costly subsidies fact that YPFB, the Bolivian NOC, had reduced
and fuel imports, the Nigerian Content Devel- the volume of gas flowing to Brazil by 30% this
opment and Monitoring Board (NCDMB) has month.
announced plans to increase refining capacity to
1.4mn barrels per day by 2027 from the current NorthAmOil: Major shale merger
level of around 16,000 bpd. Centennial Resource Development and Colgate
Energy Partners III announced on May 19 that
EurOil: Schroeder leaves Rosneft they had agreed to combine in what the compa-
Former German Chancellor Gerard Schroeder nies described as a merger of equals.
has resigned from the board of Russia’s state- The $7.0bn transaction values Colgate at
owned oil company Rosneft, days after the roughly $3.9bn and consists of 269.3mn shares
German parliament voted to strip him of his of Centennial stock, $525mn in cash and the
taxpaper-funded office and staff. assumption of around $1.4bn of Colgate’s out-
State-owned Rosneft announced Schroeder’s standing net debt.™

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Week 21 25•May•2022 www. NEWSBASE .com P15