Page 19 - AfrOil Week 24 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global of sanctions that target energy was put in place.
(NRG), in which the reader is invited to join our
team of international editors, as they provide a GLNG: Petronas to expand investments in
snapshot of some of the key issues affecting their LNG exports from Egypt to Europe
regional beats. We hope you will like NRG’s new Malaysia’s national oil company Petronas is plan-
concise format, but by clicking on the headline ning to take advantage of current strong demand
link for each section the full text will be available for LNG exports from Egypt to Europe following
as before. the EU’s decision to invest in diversifying natural
gas imports away from Russia due to the conflict
AsianOil: CPC receives Taiwan’s first cargo in Ukraine. A large delegation headed by Petro-
of carbon-offset crude nas President and Group CEO Tengku Muham-
Taiwan’s CPC announced on June 12 that it had mad met with Egyptian Minister of Petroleum
received the country’s first cargo of certified car- Tarek El Molla to discuss making additional
bon-offset crude. The cargo consisted of 1.05mn investments in LNG export opportunities in
barrels of oil and was delivered by the trading Egypt.
arm of Azerbaijan’s state-owned SOCAR.
LatAmOil: APA finds water in Rasper well
DMEA: Progress at Haditha refinery offshore Suriname
Iraq’s state-owned North Refineries Co. (NRC) Houston-based APA Corp. has finished drilling
has passed the half-way point in its project to the Rasper exploration well at Block 53 offshore
upgrade and expand capacity at the Haditha Suriname without finding any hydrocarbons. On
refinery in Anbar Governorate. Speaking to local June 13, APA said that the Rasper wildcat well
press this week, the refinery’s director, Hassan had encountered only water-bearing reservoirs.
Mardi Abdulaziz, said that the “project comple-
tion has exceeded 50%” as it works to more than MEOG: NFE partner, Sakarya pipelaying
double capacity from the current level of 16,000 QatarEnergy has named France’s TotalEner-
barrels per day (bpd). gies as its first and main IOC partner in a joint
venture formed to support the development of
EurOil: Norwegian oil strike averted its North Field East LNG development. Mean-
Norwegian oil firms and employees have agreed while, Turkish President Recep Tayyip Erdogan
in principle a new wage deal that will avert for announced that the Castoro 10 vessel has begun
the time being a strike at nine fields that could laying pipes that will tie-back the flagship Black
have had an impact on the country’s oil supply, Sea gas discovery ahead of first gas in early 2023.
employers and unions said on June 12. Two of
the three unions that held talks with oil firms will NorthAmOil: BP exits oil sands, enters
seek the consent of their members before for- Bay du Nord via Cenovus deal
mally approving the deal, according to Reuters. BP has reached an agreement with Cenovus
Energy that will see it relinquish its 50% stake
FSU OGM: Despite sanctions, Russian in the Sunrise oil sands venture while farming
energy export revenues up 40% in May into the undeveloped Bay du Nord project off-
Russia’s revenue from energy exports in the first shore Newfoundland and Labrador. Under
100 days of the war amounted to €93bn, accord- the terms of the agreement, Cenovus will pay
ing to a study by the Helsinki-based Centre for BP CAD600mn ($463mn) plus a variable pay-
Research on Energy and Clean Energy (CREA). ment with a maximum cumulative value of
Additionally, the EU remains the largest buyer of CAD600mn expiring after two years, as well as
Russian gas and oil, even after the sixth package handing over its 35% stake in Bay du Nord. ™

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Week 24 15•June•2022 www. NEWSBASE .com P19