Page 16 - MEOG Week 19 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global licences in the Norwegian North Sea containing
(NRG), in which the reader is invited to join the Oswig and Velocette prospects from their
our team of international editors, who provide a operator, Austria’s OMV, which will retain 40%
snapshot of some of the key issues affecting their stakes in the projects.
regional beats.
By clicking on the headline link for each sec- FSUOGM: Domestic focus for Nord Stream 2
tion the full text will be available. Russia has announced it will use the onshore
section of the Nord Stream 2 gas pipeline to
AfrOil: Juba plans slow nationalisation serve domestic demand, after Germany put the
Awow Daniel Chuang, the undersecretary of export project on hold in response to Moscow’s
South Sudan’s Ministry of Petroleum, said on actions in Ukraine.
May 6 that Nilepet, the national oil company, Gazprom said on May 5 it would use the 55bn
had begun the process of taking over the projects cubic metre per year pipeline’s onshore facilities
now led by foreign investors. to work in expanding gas supplies to customers
Speaking to reporters in Juba, Chuang said in north-west Russia.
South Sudan wanted to gain more control over
its own oil industry so that it could collect a GLNG: Mitsui writes down Russian value
larger share of revenues, even if output levels Japan’s Mitsui & Co. said that it had written
sink. down the value of its investments in two Rus-
sian LNG projects by a combined JPY80.6bn
AsianOil: Yards to stop Arctic LNG 2 work ($617mn).
Chinese yards are reportedly set to halt work on The company reduced the value of its 12.5%
modules for the Novatek-led Arctic LNG 2 pro- stake in the Sakhalin-2 oil and LNG project by
ject in Russia by the end of May. JPY44.1bn ($338mn) and cut the value of its
This comes amid increasingly strict West- investments in the under-construction Arctic
ern sanctions targeting the Russian economy LNG 2 project by JPY36.4bn ($279mn).
– including the country’s energy sector – in the
wake of the war in Ukraine. LatAmOil: Chevron on the hunt in Brazil
Chevron is looking for openings to invest in
DMEA: Duqm study and Iran dealing major new projects in Brazil’s offshore zone,
Canadian firm Genoil announced this week that according to Mariano Vela, the US major’s coun-
it has completed a “bankable feasibility study” try manager.
for the development of a private 200,000 barrel Speaking on the sidelines of an industry con-
per day upgrading refinery at the Omani port ference last week, Vela said Chevron was “in the
of Duqm. means of looking for new opportunities.”
Meanwhile, following high-level meetings in
Venezuela last week, Iran has said it is consid- NorthAmOil: Canada to fast track LNG
ering investing in a new refinery in Nicaragua The Canadian government is in talks with the
while inviting Brazilian companies to invest in developers of two proposed LNG export ter-
its petrochemicals sector. minals on Canada’s East Coast to see whether it
can help expedite those projects, it emerged last
EurOil: Longboat seals Norwegian farm-in week.
North Sea-focused junior Longboat Energy has Canadian Minister of Natural Resources Jon-
announced a second farm-in deal off the coast athan Wilkinson told Reuters that Ottawa was
of Norway, involving it in a two-well exploration in discussions with Pieridae Energy and Repsol
campaign due to take place in 2022 and 2023. over terminals in Nova Scotia and New Brun-
Longboat has acquired 20% stakes in three swick respectively.™

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P16 www. NEWSBASE .com Week 19 11•May•2022