Page 17 - FSUOGM Week 42 2022

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global The company entered Russia in 1995,
(NRG), in which the reader is invited to join securing operatorship of the Sakhalin-1
our team of international editors, who provide a oil project in the Russian Far East – often
snapshot of some of the key issues affecting their cited as one of the most successful interna-
regional beats. We hope you will like NRG's new tional oil ventures in Russian history
concise format, but by clicking on the headline
link for each section the full text will be available GLNG: Petronas Declares Force Majeure On
as before. Malaysian LNG Exports
Malaysia’s Petronas has declared a force
AfrOil: Eni Acquires BP’s Upstream Algeri- majeure on supplies from its Malaysian LNG
an Assets facility following a pipe leak, the company
Italy’s Eni has reached agreement with BP said last week, further exacerbating global
(UK) on the acquisition of the latter compa- supply constraints.
ny’s upstream assets in Algeria. The leak was caused by a soil movement
In a statement, Eni said it expected the deal at the Sabah-Sarawak gas pipeline on Sep-
to help it gain access to additional natural gas tember 21. “This has impacted the supply
reserves that could be used to supply European of gas to MLNG Dua’s production facility at
markets, while also expanding its own busi- Petronas LNG Complex (PLC) in Bintulu,
ness operations in Algeria. Sarawak,” Petronas said

AsianOil: India Kicks Off Another Oil And LatAmOil: Ecuador Plans To Auction Off-
Gas Licensing Round shore Gas Blocks In 2024
India is offering rights to 26 oil and gas Ecuador’s government is drawing up plans
blocks and 16 coal-bed methane (CBM) for an offshore licensing round for natural
blocks in its latest exploration licensing gas blocks in the Gulf of Guayaquil, Energy
contest, the country’s upstream regulator Minister Xavier Vera has said.
announced last week, as New Delhi looks Vera told Reuters in an interview that
to expand domestic crude supply. Quito would probably stage auctions for the
“There is an unprecedented interest blocks in 2024, after it wraps up the bidding
in Indian exploration and production by process for a group of onshore licence areas
global oil companies,” Indian Oil Minister next year.
Hardeep Singh Puri said last week follow-
ing a roadshow in Houston in the US. MEOG: Israel And Lebanon Agree Maritime
Border Deal
DMEA: Iraq Takes Downstream Path To Israel and Lebanon this week agreed a
OPEC+ Compliance deal that resolves their long-running
Iraq has decided to carve out a path toward dispute around the demarcation of
compliance with OPEC+ production targets their shared maritime border despite
through the downstream sector rather than technically remaining at war with each
the upstream sector in November, according other.
to Mohammad Saadoun Mohsen, the coun- Lebanon’s President Michel Aoun
try’s OPEC representative. announced that the talks had come to “a
Mohsen revealed details of the coun- positive end”, calling the agreement an
try’s plan to Argus Media on October 11, “historic achievement”. The deal sees Bei-
explaining that Iraq would reduce domes- rut regain an 860 square km offshore area.
tic refinery throughput rather than cut pro-
duction in order to comply with its OPEC+ NorthAmOil: Diamondback To Acquire Fire-
quota for the month of November. Bird For $1.6bn
Diamondback Energy has announced a
FSUOGM: ExxonMobil Sees Abrupt Russian major Midland Basin acquisition, having
Exit, Saying Assets Expropriated agreed to purchase the Permian driller Fire-
ExxonMobil confirmed to multiple media Bird Energy for $1.6bn in cash and stock. See the archive and
on October 17 that it had had its assets in The purchase is of all leasehold inter- sign up to receive
Russia expropriated, marking an abrupt est and related assets for 5.86mn shares of *NRG Editor’s Picks*
end to the nearly three decades that the Diamondback common stock and $775mn for free by email each
US major has been working in the country. in cash. week here

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