Page 16 - LatAmOil Week 26 2022

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global lower-calorific gas to be pumped into the UK’s
(NRG), in which the reader is invited to join pipeline system, meaning it can maximise
our team of international editors, who provide a resource recovery.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new FSU OGM: Fedun leaves Lukoil, following
concise format, but by clicking on the headline Alekperov’s lead
link for each section the full text will be available The long-serving vice president of Russia’s big-
as before. gest private oil producer Lukoil has stepped
down from the position, the company reported
AfrOil: NNPC data shows huge increase in on June 27, citing his reaching retirement age
Nigerian gasoline subsidies and family circumstances. Leonid Fedun, a
Nigeria’s government spent nearly three times as major Lukoil shareholder estimated by Forbes
much on domestic gasoline subsidies in the first to have an $8.2bn fortune, was a former Russian
five months of 2022 as it did in the same period military officer who went into the oil business
of last year. According to NNPC Ltd, Abuja paid after the breakup of the Soviet Union. He helped
out NGN1.274 trillion ($3.07bn) in gasoline sub- privatise Lukoil in the 1990s.
sidies between January and May, 190.62% up on
the figure of NGN438.6bn ($1.06bn) recorded in GLNG: Germany considers expropriating
the first five months of 2021. Nord Stream 2
Germany is considering repurposing parts of
AsianOil: PetroChina reportedly weighing Russia’s unused Nord Stream 2 gas pipeline for
exit from Australia, Canada importing LNG, Der Spiegel magazine reported
State-owned PetroChina is reported to be con- on June 27. The government in Berlin suspended
sidering exiting its investments in Australia and the certification process necessary for Nord
Canada in a bid to divert funds to more profitable Stream 2 to begin operating days before Moscow
opportunities elsewhere. This follows a similar began its invasion of Ukraine.
shift in focus for another Chinese state-owned
company, CNOOC Ltd, which was said in April MEOG: Calls for more Gulf oil output
to be preparing to exit the US, UK and Canada. French officials this week called for oil-produc-
ing countries to increase output, while suggest-
DMEA: Nigeria blames refineries for fuel ing that exports from Iran and Venezuela should
issues be allowed to return to the market. Meanwhile,
Mele Kyari, the managing director of NNPC Ltd, Baker Hughes, Halliburton and Schlumberger
told the country’s House of Representatives that have informed Iraq’s Ministry of Oil that they
issues with fuel prices and availability should be will heed Baghdad’s warning not to engage fur-
blamed on state refineries being out of operation. ther with the Kurdistan region’s energy sector.
Meanwhile, the company has now paid the ini-
tial $1bn instalment of its $2.76bn investment in NorthAmOil: Resource boost and refinery
the 650,000 bpd Dangote Refinery. confusion
Canada’s offshore Hibernia oilfield could hold
EurOil: UK looks at allowing lower-calorif- nearly 346mn barrels more than previously
ic gas into system thought, according to a new resource estimate by
The UK is looking to ease rules on the quality the local regulator. Meanwhile, amid accusations
of natural gas in a bid to incentivise the devel- of impropriety in a recent auction of the Lime-
opment of extra North Sea supply, the Tel- tree Bay Refinery on St. Croix, a group of known
egraph reported. The proposal would allow investors remains keen to assume ownership. ™

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