Page 15 - DMEA Week 11 2022

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global GLNG: China resells US LNG cargoes
(NRG), in which the reader is invited to join China is reported to have resold a handful of
our team of international editors, who provide a US LNG cargoes to Europe as price trends and
snapshot of some of the key issues affecting their Russia’s war in Ukraine continue to reroute trade
regional beats. flows.
We hope you enjoy NRG’s new concise for- This also marks the continuation of a trend
mat, but by clicking on the headline link for each that emerged at the start of this year, whereby
section the full text will be available as before. Chinese oil and gas companies are seeking to
resell excess cargoes of LNG in markets where
AfrOil: Eni, BP finalise Angola JV plan they would fetch a higher price.
Eni and BP have finalised an agreement first
announced in May 2021 to form an independent LatAmOil: Eco to expand in Guyana
joint venture in Angola. UK-based Eco (Atlantic) Oil & Gas said on
The new company, Azule Energy, will com- March 14 that it had expanded its foothold in
bine all of the Italian and British energy majors’ Guyana’s offshore zone by striking an agreement
businesses in the African country and will be on the acquisition of JHI Associates, a Canadian
managed independently. company that holds a 17.5% working interest in
the Canje block.
AsianOil: Seoul approves oil release In a statement, Eco Atlantic said it had signed
The South Korean government last week gave a commercially binding term sheet to acquire
the green light to release more than 4mn barrels 100% of JHI, including its cash and capital bal-
of oil from the country’s Strategic Petroleum ances as well as its equity stake in Canje.
Reserve. The release follows a decision taken ear-
lier this month alongside the 30 other member MEOG: Iran boosts smaller fields
countries of the International Energy Agency This week’s MEOG looks at Iranian efforts to
(IEA), who agreed to a co-ordinated release of increase output from two long-standing, smaller
60mn barrels of crude from SPRs worldwide. oilfields as part of a wider effort to increase
production.
EurOil: Sturgeon dismisses North Sea push National Iranian Oil Co. (NIOC) subsidi-
Scottish First Minister Nicola Sturgeon has said aries said that new wells had been launched at
that ramping up North Sea oil and gas produc- the Danan oilfield with a contract signed for the
tion is not a short-term solution to Europe’s sig- expansion of Masjid Soleyman, the region’s old-
nificant dependency on Russian gas. est field.
The UK and US are banning imports of Meanwhile, Petroleum Engineering and
Russian oil, while the EU has ambitious plans Development Co. (PEDEC) CEO Abuzar Sharifi
to reduce its use of Russian gas by two thirds announced that NIOC had signed a memoran-
within a single year, in light of Moscow’s inva- dum of understanding for the Masjid Soleyman’s
sion of Ukraine. second phase of development.

FSUOGM: Sanctions for Russian CEOs NorthAmOil: ExxonMobil mulls Bakken sale
The UK has slapped sanctions on the CEOs of ExxonMobil is reportedly considering a sale of
Russia’s largest oil and gas producers Rosneft and its assets in North Dakota’s Bakken play.
Gazprom over Moscow’s invasion of Ukraine. Citing sources familiar with the matter,
Foreign Secretary Liz Truss announced a Bloomberg reported that the super-major had
package of sanctions on March 10 in response been approached by interested parties. Accord-
to the escalating conflict in Ukraine, includ- ing to the sources, ExxonMobil could receive up
ing an asset freeze and travel ban measures on to $5bn for the assets. And one of the sources
seven of Russia’s wealthiest and most influential added that the company was in the final round
oligarchs, all of which have close ties to Russian of interviewing banks to help launch a sale
President Vladimir Putin. process.™

See the archive and sign up to
receive *NRG Editor’s Picks* for
free by email each week here

Week 11 17•March•2022 www. NEWSBASE .com P15