Page 20 - AfrOil Week 08 2023

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global portion of the Caspian Sea. The agreements set
(NRG), in which the reader is invited to join our out the rights and obligations that Lukoil would
team of international editors, as they provide a have as a subsoil user at the blocks working in
snapshot of some of the key issues affecting their partnership with KMG.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: LNG demand soars in Baltics
link for each section the full text will be available amidst pivot away from Russian gas
as before. Baltic countries are securing LNG in vast quanti-
ties in a bid to take advantage of falling natura gas
AsianOil: Rising LNG orders in China prices. They are doing so as northern European
mask rural shortages nations accelerate the diversification of their
Despite much being made of China’s post- energy supply after quitting Russian gas after the
COVID recovery and increased LNG orders invasion of Ukraine. With gas prices down by
of late, the increase in gas flows to China is also more than 80% from their peak in August, LNG
needed to help alleviate shortages in some of the cargoes have become more attractive compared
country’s more rural areas. The nation’s Hebei to alternatives such as fuel oil and coal.
Province, a large pocket of land surrounding
Beijing, is a prime example. LatAmOil: Pemex’s legacy refineries
continue to underperform
DMEA: Cabinda refinery tests to begin Mexico’s national oil company Pemex fell short
in December of its goals for boosting refining capacity utili-
The developer of Angola’s Cabinda refinery sation in 2022 and is likely to continue doing so
has said that the project is expected to be com- in 2023-2024, despite ongoing efforts to improve
pleted by the end of the year, with test runs due performance. Pemex had said previously that
to begin in mid-December. Speaking at a press it hoped to see its six existing refineries boost
conference, Marcus Weyll, director-general of capacity utilisation to 1.375mn barrels per day
UK-based Gemcorp, said that his company is in 2023 and 2024.
committed to commissioning the refinery’s first
phase during the fourth quarter of this year and MEOG: IDC finishes another Zubair well
will swiftly move forward with work on the sec- Government-owned Iraqi Drilling Co. (IDC)
ond and third phases. has completed drilling well 579 at the Zubair
oilfield in the south-eastern part of the coun-
EurOil: Imports of Russian gas to try. Speaking to the Iraqi News Agency (INA),
Czechia dropped to zero in January an IDC spokesperson said that “technical and
Russian gas imports to Czechia dropped to zero engineering personnel have completed drilling
in January, Minister of Industry and Trade Jozef the directional oilwell Zubair 579 at a depth of
Sikela said on Twitter. Until recently, Czechia 2,472 metres.”
has been one of the countries in the EU most
dependent on Russian energy. NorthAmOil: Equinor receives licence
for discovery off Newfoundland
FSU OGM: Azerbaijan targets further The Canada-Newfoundland and Labrador Off-
growth in gas exports in 2023 shore Petroleum Board (C-NLOPB) has issued
Russia’s Lukoil has signed several deals with a licence to Equinor for the Cappahayden K-67
Kazakhstan’s state-owned KazMunayGas discovery in the province’s waters. The board
(KMG) on developing the Kalamkas-Sea, estimates that it holds about 385mn barrels of
Khazar and Auezov blocks in the Kazakh recoverable oil. ™

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P20 www. NEWSBASE .com Week 08 23•February•2023