Page 14 - MEOG Week 18 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global FSUOGM: TAP to reach capacity in 2022
(NRG), in which the reader is invited to join Ilham Aliyev, President of Azerbaijan, said on
our team of international editors, who provide a April 29 that the Trans Adriatic Pipeline (TAP)
snapshot of some of the key issues affecting their was on track to reach its full capacity of 10bn
regional beats. cubic metres per year in 2022, up from 8.2 bcm
We hope you enjoy NRG’s new concise for- in 2021. The system will deliver 10bn cubic
mat, but by clicking on the headline link for each metres of natural gas to Italy, he stated at a con-
section the full text will be available as before. ference in Baku.
Afroil: TotalEnergies sell Nigerian assets GLNG: Gunvor secures long-term LNG deal
TotalEnergies (France) intends to join other Swiss-based commodity trader Gunvor is to buy
international oil companies in trimming its 2mn tonnes per year of LNG from Energy Trans-
onshore portfolio in Nigeria. fer’s proposed Lake Charles LNG export termi-
It will accomplish this goal by unloading its nal. Gunvor agreed to a 20-year FOB deal as
minority stake in Shell Petroleum Development European buyers look to tie in long-term supply
Corp. (SPDC), a joint venture that operates 19 deals for US LNG supplies at below the current
onshore oil and gas licences in the southern part high spot prices.
of the country.
LatAmOil: Olmeca refinery may cost $14bn
AsianOil: Russia deal in the works in India The final price tag for the 340,000 barrel per
Indian refiners are reportedly in talks over a day refinery that Mexico’s national oil company
six-month deal to import oil from Russia. This Pemex is building in Tabasco State may be nearly
comes amid a rise in the Asian country’s oil twice the original figure of $8bn, according to a
imports in the wake of the war in Ukraine. report from Reuters.
The news agency reported late last week, cit-
DMEA: Ghana offers optimism on Tema ing government documents and sources close
This week, DMEA looks at the voicing of opti- to the project, that officials in Mexico City now
mism about the rehabilitation of Ghana’s only oil believed that the NOC would have to spend
refinery. Ghanaian President Nana Akufo-Addo around $14bn on the Olmeca refinery, formerly
provided an update on efforts to repair and rein- known as Dos Bocas.
state capacity at the country’s Tema refinery.
NorthAmOil: Majors post Q1 profits
EurOil: BP attributes loss to Russia exit US super-majors ExxonMobil and Chevron
UK-listed super-major BP has posted a record have posted multi-billion-dollar profits for the
loss of $20.4bn for the first quarter of 2022. first quarter of 2022, during which West Texas
The company also reported its strongest Intermediate crude prices averaged $95 per bar-
operational performance in more than a decade rel and briefly rose above $120 per barrel.
on the back of strong commodity prices, but this ExxonMobil reported net income for the
was wiped out by a $24.4bn write-down in the quarter of $5.5bn, or $1.28 per share, down
quarter, largely related to BP’s decision to exit its sequentially from $8.9bn in the fourth quarter
investments in Russia. of 2021 but up from $2.7bn in the first quarter
of last year.™

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P14 www. NEWSBASE .com Week 18 04•May•2022