Page 15 - NorthAmOil Week 10 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global for Ukrainian aid
(NRG), in which the reader is invited to join Shell announced on March 5 it was placing
our team of international editors, who provide a all profits that it earns from Russian oil it pur-
snapshot of some of the key issues affecting their chases into a fund that will go towards human-
regional beats. We hope you will like NRG’s new itarian aid in Ukraine, after drawing criticism
concise format, but by clicking on the headline link for purchasing a discounted cargo of Russian
for each section the full text will be available as Urals blend. Shell is one of several interna-
before. tional oil companies that have announced their
intent to leave Russia in response to Moscow’s
AfrOil: Libyan oil production sinks by actions in Ukraine.
330,000 bpd
Libya’s oil production has reportedly sunk by GLNG: Venture Global expands supply
about 330,000 barrels per day following the partnership with Shell
shutdown of two major sites: Sharara, the coun- Venture Global LNG announced on March 7
try’s biggest oilfield, and El Feel. Sharara usually that it had struck a new long-term sales and pur-
yields around 270,000-300,000 bpd of oil, while chase agreement with Shell for offtaking from its
El Feel produces up to 70,000 bpd but may have proposed Plaquemines liquefaction terminal on
been operating below full capacity when produc- Louisiana’s Gulf Coast. The 20-year deal covers
tion stopped on March 3. 2mn tonnes per year and brings Shell’s total long-
term offtake commitments from Venture Glob-
AsianOil: Outage reported at Malaysia LNG al’s terminals to 4mn tpy.
Satu
An unplanned outage was reported at the Malay- LatAmOil: Tradener makes Brazil’s first pri-
sia LNG (MLNG) Satu – part of the country’s vate deal for Bolivian gas
nine-train Bintulu LNG complex – last week. Tradener has become the first privately owned
The outage is reported to have resulted from Brazilian firm to buy natural gas directly from
a leak that led to the second train being taken Bolivia, without the national oil company Petro-
offline. bras acting as an intermediary. In a statement,
Tradener said it had signed a contract with YPFB,
DMEA: Different approaches to refining Bolivia’s NOC, for the purchase of 2.2mn cubic
This week’s DMEA covers Iranian efforts to metres per day of gas over a period of two years.
increase the country’s refining capabilities,
while Israel looks to close its Haifa facilities MEOG: Iran talks up oil investment
for good. Iran’s Ministry of Petroleum (MoP) In this week’s MEOG we look at Iran’s continued
announced this week that it has received budg- optimism about its spending plans to build out
etary approval to add 300,000 barrels per day of the country’s oil sector and a field development
refining capacity, with private sector and for- contract award in the UAE. The Iranian gov-
eign investment likely to be sought. Meanwhile, ernment this week said it would invest $4bn in
Israel’s cabinet this week voted unanimously in oil and gas projects in the southern Khuzestan
favour of closing refining facilities owned by Province as the sums promised for investment
the local Bazan Group as the country pushes to continue to spiral. Meanwhile, the onshore-fo-
promote clean energies as a major gas field was cused arm of state-owned Abu Dhabi National
connected to the grid. Oil Co. (ADNOC) this week announced the
award of a contract to carry out enhanced oil
EurOil: gas prices skyrocket amid ongoing recovery work at the Emirates’ key Bab oilfield.
Ukrainian conflict
The front-month gas price at the Dutch TTF hub NorthAmOil: US bans imports of Russian
spiked at close to $4,000 per 1,000 cubic metres oil and gas
on March 7, amid the escalating conflict in US President Joe Biden announced on March 8
Ukraine that has built on top of an existing energy that his country was banning imports of Russian
crunch crisis in Europe. The April contract at the oil and gas, as well as coal. This comes as the US
hub briefly settled at €345 per 1,000 cubic metres tightens its sanctions against Russia in response
at around 08:30 GMT, equivalent to $3,990 per to Moscow’s invasion of Ukraine.
cubic metres. Its average for the day was €227.
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