Page 17 - AfrOil Week 42 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global Russia expropriated, marking an abrupt end to
(NRG), in which the reader is invited to join our the nearly three decades that the US major has
team of international editors, as they provide a been working in the country. The company
snapshot of some of the key issues affecting their entered Russia in 1995, securing operatorship of
regional beats. We hope you will like NRG’s new the Sakhalin-1 oil and gas project in the Russian
concise format, but by clicking on the headline Far East.
link for each section the full text will be available
as before. GLNG: Petronas declares force majeure on
Malaysian LNG exports
AsianOil: India kicks off licensing round Malaysia’s Petronas has declared a force majeure
India is offering exploration rights to 26 oil and on supplies from its Malaysian LNG facility fol-
gas blocks and 16 coal-bed methane (CBM) lowing a pipe leak, the company said last week,
blocks in its latest licensing contest, the country’s further exacerbating global supply constraints.
upstream regulator has announced. “There is an The leak was caused by a soil movement at the
unprecedented interest in Indian exploration Sabah-Sarawak pipeline on September 21.
and production by global oil companies,” Indian
Oil Minister Hardeep Singh Puri said following LatAmOil: Ecuador to auction offshore gas
a roadshow in Houston in the US. blocks in 2024
Ecuador’s government is drawing up plans for an
DMEA: Iraq takes downstream path to offshore licensing round for natural gas blocks in
OPEC+ compliance the Gulf of Guayaquil, Energy Minister Xavier
Iraq has opted to seek compliance with OPEC+ Vera has said. Vera told Reuters in an interview
production targets via the downstream sector that Quito would probably stage auctions for
rather than the upstream sector in November, the blocks in 2024, after it wraps up the bidding
said Mohammad Saadoun Mohsen, the coun- process for a group of onshore licence areas next
try’s OPEC representative. Mohsen revealed year.
details of the country’s plan to Argus Media on
October 11, explaining that Iraq would reduce MEOG: Israel, Lebanon strike maritime
domestic refinery throughput rather than cut border deal
production to remain within its OPEC+ quota. Israel and Lebanon have made a deal that resolves
their long-running dispute on the demarcation
EurOil: CNOOC eyes sale of North Sea of their shared maritime border, despite techni-
assets to Equinor cally remaining at war with each other. Lebanon’s
China’s CNOOC is mulling the sale of UK oil President Michel Aoun announced that the talks
assets to Norway’s Equinor, the Norwegian press had come to “a positive end,” calling the agree-
reported on October 17, citing sources as saying ment an “historic achievement.”
the deal price was NOK20-30bn ($1.9-2.9bn).
State-owned CNOOC holds interests in a num- NorthAmOil: Diamondback to acquire
ber of UK North Sea fields including Buzzard, FireBird for $1.6bn
one of the largest in the region, as well as Golden Diamondback Energy has announced a major
Eagle, Scott and Telford. Midland Basin acquisition, having agreed to
purchase the Permian driller FireBird Energy for
FSU OGM: ExxonMobil makes abrupt $1.6bn in cash and stock. The purchase is of all
Russian exit leasehold interest and related assets for 5.86mn
ExxonMobil confirmed to multiple news agen- shares of Diamondback common stock and
cies on October 17 that it had had its assets in $775mn in cash. ™

NRG Oil & Gas Editor’s Picks

See the archive and sign up to receive
NRG EDITOR’S PICKS

for free by email each week here.

Week 42 20•October•2022 www. NEWSBASE .com P17