Page 16 - LatAmOil Week 49 2022

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global between the minority government and the
(NRG), in which the reader is invited to join opposition Socialist Left (SV) party – will have
our team of international editors, who provide a little impact on near-term investment in Nor-
snapshot of some of the key issues affecting their way’s continental shelf.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline FSU OGM: China stresses close energy
link for each section the full text will be available relationship with Russia
as before. China is eager to expand its partnership with
Russia in the energy sphere, Chinese President
AfrOil: ExxonMobil reportedly preparing to Xi Jinping said last week, days before the EU
exit Equatorial Guinea is set to impose its embargo on Russian crude
The US super-major ExxonMobil is ramping imports. China has ramped up imports of Rus-
down oil production at Block B, located offshore sian oil despite the economic slowdown caused
Equatorial Guinea, and aims to exit the country by stringent coronavirus (COVID-19) restric-
once its licence for the site expires in 2026, two tions this year, taking advantage of the steep
sources close to the matter informed Reuters. discount on Urals and other grades of Russian
They said the US giant was motivated partly by crude oil.
an industry-wide push to swap out ageing assets
in West Africa for frontier African initiatives that GLNG: Bangladesh turns to Brunei for
have lower greenhouse gas emissions intensity. LNG supply
Bangladesh has turned to Brunei for supple-
AsianOil: India’s embrace of gas backfires mental supplies of LNG. A delegation of offi-
India has embraced natural gas in the last few cials from Bangladesh’s Energy and Mineral
years as a means of safeguarding its energy secu- Resource Division has visited Brunei’s capital of
rity at a low cost, even at the expense of its sub- Bandar Seri Begawan to discuss shipments of up
stantial domestic coal reserves. In the years prior to 1.5mn tonnes during 2023.
to the aftermath of the coronavirus (COVID-19)
pandemic, this was a rational choice just on an MEOG: Aramco makes gas discoveries
economic basis. Majority state-backed Saudi Aramco has dis-
covered two new unconventional gas fields in
DMEA: Kenyan insurer exits Ugandan oil the Kingdom’s Eastern Province as it steps up
pipeline consortium its production efforts. In comments provided to
Nairobi-listed Britam Holdings has withdrawn the official Saudi Press Agency, Energy Minister
from a consortium of East African insurers pro- Prince Abdulaziz bin Salman Al-Saud said the
viding coverage for a planned 1,443-km oil pipe- discoveries were called Awtad and Al-Dahna.
line in Uganda and Tanzania, saying the project The discoveries are understood to be tight gas.
does not meet its backers’ standards. Britam’s
decision came to light in early November. NorthAmOil: ExxonMobil, MHI to deploy
CO2 capture technology
EurOil: Norway to delay further frontier ExxonMobil and Mitsubishi Heavy Industries
licensing rounds until 2025 (MHI) have joined forces to deploy MHI’s CO2
As Europe grapples with soaring energy prices, capture technology as part of ExxonMobil’s
Norway, the continent’s biggest natural gas sup- end-to-end carbon capture and storage solution
plier, has decided to hold off on future licensing for industrial customers. The companies bring
rounds in frontier zones until at least 2025. The complementary capabilities to facilitate industry
decision – made as part of a budget agreement decarbonisation projects, said ExxonMobil. ™

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P16 www. NEWSBASE .com Week 49 07•December•2022