Page 14 - NorthAmOil Week 26 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global biggest private oil producer Lukoil has stepped
(NRG), in which the reader is invited to join down from the position, the company reported
our team of international editors, who provide a on June 27, citing his reaching retirement age
snapshot of some of the key issues affecting their and family circumstances. Leonid Fedun, a
regional beats. We hope you will like NRG’s new major Lukoil shareholder estimated by Forbes
concise format, but by clicking on the headline link to have an $8.2bn fortune, was a former Russian
for each section the full text will be available as military officer that went into the oil business
before. after the breakup of the Soviet Union. He helped
privatise Lukoil in the 1990s.
AfrOil: NNPC data shows huge increase in
Nigerian gasoline subsidies GLNG: Germany considers expropriating
The Nigerian government spent nearly three Nord Stream 2
times as much on domestic gasoline subsidies in Germany is considering repurposing parts of
the first five months of 2022 as it did in the same Russia’s unused Nord Stream 2 gas pipeline for
period of last year, according to Nigerian National importing LNG, Der Spiegel magazine reported
Petroleum Co. Ltd (NNPC Ltd). According to on June 27. The government in Berlin suspended
newly released data from NNPC Ltd, Abuja paid the certification process necessary for Nord
out NGN1.274 trillion ($3.07bn) in gasoline sub- Stream 2 to flow gas, days before Moscow began
sidies between January and May, 190.62% up on its invasion of Ukraine.
the figure of NGN438.6bn ($1.06bn) recorded in
the first five months of 2021. LatAmOil: Petrobras to receive first Guya-
nese oil cargo
AsianOil: PetroChina reportedly weighing Brazil’s national oil company Petrobras is due to
exit from Australia, Canada take delivery of its first cargo of Guyanese light
State-owned PetroChina is reported to be con- sweet crude for domestic refining before the
sidering exiting its investments in Australia and end of this week. In a statement sent to Reuters,
Canada in a bid to divert funds to more profitable the company confirmed that its first 1mn-bar-
opportunities elsewhere. This follows a similar rel load of Guyanese oil had departed from the
shift in focus for another Chinese state-owned Liza-1 offshore field in mid-June.
company, CNOOC Ltd, which was reported in
April to be preparing to exit its operations in the MEOG: Calls for more Gulf oil output
US, UK and Canada. This week, MEOG includes coverage of calls
for oil producers to increase output while ser-
DMEA: Nigeria blames refineries for fuel vices firms take Baghdad’s side in its battle with
issues the KRG. French officials this week called for
In DMEA this week, we cover Nigeria’s fuel sup- oil-producing countries to increase output,
ply and price issues as its NOC makes its first while suggesting that exports from Iran and
payment in the acquisition of a share in a new Venezuela should be allowed to return to the
mega facility. Managing director of the Nigerian market. Meanwhile, Baker Hughes, Halliburton
National Petroleum Corp. (NNPC) Ltd Mele and Schlumberger this week informed Iraq’s
Kyari told the country’s House of Representa- Ministry of Oil that they would heed Baghdad’s
tives that issues with fuel prices and availability warning not to engage further with the Kurdis-
should be blamed on state refineries being out tan region’s energy sector.
of operation. Meanwhile, the company has now
paid the initial $1bn instalment of its $2.76bn NorthAmOil: Resource boost and refinery
investment in the 650,000 bpd Dangote Refinery. confusion
This week’s NorthAmOil covers a major resource
EurOil: UK looks at allowing lower-calorific boost for a Canadian oilfield and accusations and
gas into system claims about the auction of a Caribbean refinery.
The UK is looking to ease rules on the quality of Canada’s offshore Hibernia oilfield could con-
natural gas in an effort to incentivise the devel- tain nearly 346mn barrels more than previously
opment of extra North Sea supply, the Telegraph thought, according to a new resource estimate by
gas reported. The proposal would allow low- the local regulator. Meanwhile, amid confusion
er-calorific gas to be pumped into the UK’s pipe- and accusations of impropriety in a recent auction
line system, meaning it can maximise resource to acquire the Limetree Bay Refinery on the island
recovery. of St. Croix, a group of known investors said this
week that it remains keen to assume ownership.
FSUOGM: Fedun leaves Lukoil following
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P14 www. NEWSBASE .com Week 26 30•June•2022