Page 12 - NorthAmOil Week 45 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global that operates the Finnish LNG terminal and
(NRG), in which the reader is invited to join use the €30mn set aside in the supplementary
our team of international editors, who provide a budget for this purpose to [replenish] Estonia’s
snapshot of some of the key issues affecting their gas reserves,” Prime Minister Kaja Kallas said at a
regional beats. We hope you will like NRG’s new government press conference, adding that this is
concise format, but by clicking on the headline link in line with the Act on the State’s Supplementary
for each section the full text will be available as Budget.
before.
FSUOGM: Uniper hit hard by Russian gas
AfrOil: APT may be able to launch Ntorya losses
gas production early Uniper has posted a €40bn ($39bn) loss for the
ARA Petroleum Tanzania Ltd (APT) is looking first nine months of this year, marking one of
to launch commercial production at the Ntorya the biggest losses in German corporate history.
natural gas field in southern Tanzania almost a The reasons are well-known. The company had
year ahead of schedule despite a setback in its its Russian gas supply drastically cut over the
drilling schedule. According to Aminex (Ire- summer, before it ended completely at the end
land), a non-operating shareholder in Ruvuma, of August.
APT pushed the target date for spudding the
Chikumbi-1 (CH-1) well at Ntorya back to GLNG: Indonesia’s potential reversal to
March 2023 after receiving new information on LNG importer
rig availability and consulting with Tanzanian With the likes of Australia, Qatar and the US
authorities and its contractors. now by far the world’s biggest LNG exporters, it
is hard to imagine that this was a title once held,
AsianOil: Tokyo asks Malaysia to ease LNG in 1990, by Indonesia. That year the country
supply woes delivered 20.35mn tonnes of the super-cooled
The Japanese government has reached out to gas to the global market, accounting for 38.4%
Malaysia’s Petroliam Nasional Berhad (Petro- of overall trade.
nas) to request the firm’s help with alleviating
any LNG supply issues to customers in Japan LatAmOil: Spudding of Wei-1 postponed
following the Sabah-Sarawak Pipeline leak again
in late September. Already facing pressure Canada’s CGX Energy has been forced once
to guarantee ample LNG deliveries as Russia again to postpone the spudding of Wei-1, its
threatens to cut off supplies, and with temper- second exploration well at the Corentyne block
atures across the country already starting to offshore Guyana. In a statement, CGX explained
drop, Japanese buyers are clambering to source that the delay was beyond its control.
cargoes to replace those delayed by the leak.
MEOG: Aramco announces Q3 results
DMEA: Iranian government sells 12% Saudi Aramco this week announced its Q3
stake in country’s largest petchem produc- results, which were highlighted by a net income
er of $42.4bn, up 139% against the same period
Iran’s government has reportedly sold 12% of last year. Despite some price volatility during
the country’s largest petrochemical producer, the quarter, the company continues to benefit
Persian Gulf Petrochemical Industries (PGPIC), from the recovery experienced over the past
to a unit of the country’s oil pension fund for year or so, earning well in excess of the level
IRR1.087 quadrillion ($3.3bn at the free mar- required to cover its $18.75bn quarterly divi-
ket rate), a privatisation record. “Moments ago, dend obligation.
stocks of this company were sold for a total price
of 1,087 trillion rial. It was the largest privati- NorthAmOil: Marathon to purchase En-
sation scheme ever conducted in the country’s sign’s Eagle Ford assets for $3bn
history,” said Hossein Ghorbanzade, who heads Marathon Oil has agreed to acquire the Eagle
Iran’s Privatisation Organisation. Ford shale assets of Ensign Natural Resources
for $3bn cash. The assets – in the core of the play
EurOil: Estonia gives up stake in Finnish – nearly double Marathon’s Eagle Ford position
LNG terminal and are adjacent to Marathon’s existing Eagle
The Estonian three-party government has Ford wells. The transaction, expected to close by
decided that Estonia will give up its stake in the the end of the year, will add 526.1 net square km
company that operates the Finnish LNG ter- with a 97% working interest.
minal and spend the €30mn budgeted for this
purpose to buy additional gas reserves. “We See the archive and sign up to receive NRG Editor’s
decided not to acquire a stake in the company Picks for free by email each week here.™

P12 www. NEWSBASE .com Week 45 10•November•2022