Page 8 - LatAmOil Week 26 2022

LatAmOil VENEZUEL A LatAmOil

At that time, it transferred its 30.32% stake in told the French leader that his country was pro-
the Petrocedeño joint venture to a subsidiary of ducing oil at full tilt and had no spare capacity –
PdVSA, citing concerns about the US sanctions and that Saudi Arabia, OPEC’s swing producer,
regime. also faced major constraints.
Maduro was speaking after an official from “I had a call with MbZ,” Macron told US
the Macron administration called for oil-pro- President Joe Biden during the G7 summit: “He
ducing countries to increase output and sug- told me two things: ‘I’m at a maximum, maxi-
gested specifically that Iran and Venezuela, mum.’ This is what he claims. And then he said
which are both under sanctions, should be [the] Saudis can increase by 150,000 barrels
allowed to return to the market. Speaking dur- per day bpd, maybe a little bit more, but they
ing the G7 summit in Germany, the official don’t have huge capacities [to spare] before six
said: “We need the oil-producing countries to months’ time.”. ™
produce more in an exceptional way” and noted
that there were “resources elsewhere that must
also be explored.”
The official, who has not been named pub-
licly, also called for “diversification of supplies”
and said: “There is a knot to untie if necessary
[between the US and Iran] … so that Iranian oil
… and Venezuelan oil can also be able to be put
back on the market.”
He did not say, though, exactly how obstacles
to Venezuelan oil exports might be eliminiated.
These comments came ahead of revelations
that Sheikh Mohammed bin Zayed al-Nahyan
(MbZ) of the United Arab Emirates had men-
tioned the hard limits on his own country’s spare
production capacity, as well as that of Saudi Ara-
bia, during a call with Macron. MbZ reportedly Maduro said Caracas welcomed French investors (Photo: Twitter/@NicolasMaduro)

GUYANA
Guyana ready to proceed with GTP project

GUYANA’S government has indicated that it collect 50mn cubic feet (1.42mn cubic metres)
is ready to proceed with a gas-to-power (GTP) per day of gas from the Liza-1 and Liza-2 oil-
project that will provide the country with a new fields and transport it along a 225-km route to
source of energy. shore, while the government will be responsible
Officials in Georgetown have already reached for building the onshore facilities that receive the
agreement with ExxonMobil, the operator of the gas. Those facilities will include a natural gas liq-
oilfields that will supply the associated gas for the uids (NGL) plant and a gas-fired thermal power
scheme, on how to implement the work. Exxon- plant (TPP) at Wales, in a special industrial zone
Mobil will build a 12-inch (303-mm) pipeline to on the West Bank of the Demerara river.

Rendering of Wales special industrial zone, with Marine Off-loading Facility (Image: Government of Guyana)

P8 www. NEWSBASE .com Week 26 30•June•2022