Page 13 - MEOG Week 49 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global and gas licensing rounds in frontier zones until
(NRG), in which the reader is invited to join at least 2025.
our team of international editors, who provide a The decision – made as part of a budget
snapshot of some of the key issues affecting their agreement between the minority government
regional beats. and the opposition Socialist Left (SV) party –
By clicking on the headline link for each sec- will have little impact on near-term investment
tion the full text will be available. in Norway’s continental shelf.

AfrOil: Exxon preparing to exit Eq. Guinea FSUOGM: China wants close ties with Russia
The US super-major ExxonMobil has started China is eager to expand its partnership with
ramping down oil production at Block B, located Russia in the energy sphere, Chinese President
offshore Equatorial Guinea, and aims to exit the Xi Jinping said last week, days before the EU
country once its licence for the site expires in is set to impose its embargo on Russian crude
2026, two sources close to the matter informed imports.
Reuters on November 28. China has ramped up imports of Russian
According to the sources, the US giant is oil despite the economic slowdown caused by
motivated partly by an industry-wide push to stringent COVID-19 restrictions this year, tak-
swap out ageing assets in West Africa for frontier ing advantage of the steep discount that Urals
African initiatives that have lower greenhouse and other Russian blends are currently trading
gas emissions intensity, such as deepwater drill- at compared to global benchmarks.
ing offshore Namibia.
GLNG: Bangladesh turns to Brunei for LNG
AsianOil: India’s natural gas issues Bangladesh has turned to Brunei for a supple-
India has embraced natural gas in the last few mental supply of LNG, the country’s media has
years as a means of safeguarding its energy secu- reported.
rity at a low cost, even at the expense of its sub- A delegation of officials from Bangladesh’s
stantial domestic coal reserves. Energy and Mineral Resource Division has vis-
In the years prior to the aftermath of the coro- ited Brunei’s capital of Bandar Seri Begawan to
navirus (COVID-19), this was a rational choice discuss shipments of up to 1.5mn tonnes during
just on an economic basis. 2023.

DMEA: Insurer exits Ugandan consortium LatAmOil: BP firm to market Guyanese oil
Nairobi-listed Britam Holdings has withdrawn Guyana’s government has granted a subsidiary
from a consortium of East African insurers pro- of BP (UK) the right to market its share of crude
viding coverage for a planned 1,443-km oil pipe- oil extracted from the Liza-1 and Liza-2 oilfields
line in Uganda and Tanzania, saying the project at the offshore Stabroek block in 2023. The Min-
does not meet its backers’ standards. istry of Natural Resources announced that BP
Britam’s decision came to light in early International had won the marketing contract
November, when the Compliance Advisor for next year on November 24.
Ombudsman (CAO), an independent agency
of the World Bank, responded to a complaint NorthAmOil: Exxon, MHI to deploy CO2 tech
filed by Inclusive Development International, a ExxonMobil and Mitsubishi Heavy Industries
US-based human rights organisation. (MHI) have joined forces to deploy MHI’s CO2
capture technology as part of ExxonMobil’s end-
EurOil: Norway pauses bid rounds to-end carbon capture and storage solution for
As Europe grapples with soaring energy prices industrial customers.
that are widely expected to remain for years to The companies bring complementary capa-
come, Norway, the continent’s biggest natural bilities to facilitate industry decarbonisation
gas supplier, has decided to hold off on future oil projects, said ExxonMobil.™

See the archive and sign up to
receive *NRG Editor’s Picks* for
free by email each week here

Week 49 07•December•2022 www. NEWSBASE .com P13