Page 12 - NorthAmOil Week 15 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global the first quarter on its Russian assets in light
(NRG), in which the reader is invited to join of its decision to leave the country because of
our team of international editors, who provide a Moscow’s war in Ukraine. The UK major previ-
snapshot of some of the key issues affecting their ously said it would write off only $3.4bn in value
regional beats. We hope you will like NRG’s new because of its departure from Russia, where it has
concise format, but by clicking on the headline link a 27.5% stake in the Gazprom-operated Sakha-
for each section the full text will be available as lin LNG plant in the Russian Far East, as well as
before. shares in Gazprom Neft’s Salym Petroleum and
Gydan oil developments in Western Siberia.
AfrOil: Sonatrach agrees to supply Italy
with additional gas GLNG: ADNOC orders two LNG tankers
Algeria’s national oil company Sonatrach has from Shanghai yard
cut a deal with the Italian major Eni to deliver Abu Dhabi National Oil Co. (ADNOC) has
an additional 9bn cubic metres of natural gas in confirmed it is to order two 175,000 cubic metre
2022-2023. The two sides signed a new supply LNG tankers from Shanghai’s Jiangnan Shipyard
agreement during Italian Prime Minister Mario as part of plans to expand its shipping fleet and
Draghi’s visit to Algeria on April 11. to raise LNG production. ADNOC Logistics &
Services (ADNOC L&S), the company’s ship-
AsianOil: Shell resumes LNG shipments ping unit, said on April 12 that it had signed a
from Australia’s Prelude FLNG contract for the construction of two 175,000
Shell said in a brief statement on April 11 that it cubic metre LNG vessels and expected that they
had resumed shipping cargoes from its Prelude would be delivered in 2025.
floating LNG facility offshore the north coast of
Western Australia. The facility had been offline LatAmOil: Trinidad and Tobago to reduce
for four months following a major power failure. fuel subsidies
Colm Imbert, the prime minister of Trinidad
DMEA: Downstream progress and plans and Tobago, announced on April 8 that his gov-
In this week’s DMEA, Iran prepares to kick off ernment intended to reduce subsidies for petro-
construction of a new refinery, while the Moroc- leum product prices as of April 19. In an address
can government has been called upon to clarify to members of the House of Representatives,
its downstream plans. Iran is set to begin con- Imbert said that Port of Spain had taken the deci-
struction work on its 300,000 barrel per day Sha- sion to hike fuel prices out of economic necessity.
hid Ghasem Soleimani refinery as it builds out
downstream processing capacity. Meanwhile, a MEOG: Supplies and output rise
Moroccan support group this week called on the This week’s MEOG covers the delivery of Iraqi
government to take an active role in supporting crude to the Jordanian border and efforts by Iran
the country’s downstream industry following the to increase production. Trucks carrying Iraqi
shutdown of its only refinery in 2015. crude arrived at the country’s border with Jordan
following the bilateral renewal of a supply agree-
EurOil: UK unveils plan to bolster energy ment that had expired in January. Meanwhile,
security Iran has maintained its upstream momentum as
The UK government has unveiled a new energy it seeks to increase production of both oil and
policy paper aimed at bolstering the country’s gas.
energy security in the face of soaring gas and
power prices and Europe’s push to phase out NorthAmOil: Canada unveils details of car-
Russian energy. In the run-up to the COP26 bon capture tax credit
climate summit in Glasgow last autumn, the The Canadian government has unveiled details
government announced a number of ambi- of its long-awaited tax incentives to help fund
tious targets to decarbonise industries and carbon capture projects in the country. The
scale up renewables and other low-carbon incentives form part of Canadian Prime Minister
technologies. Justin Trudeau’s new fiscal plan, and are aimed at
spurring investment in carbon capture and stor-
FSUOGM: Shell warns of $4-5bn Russian age technologies.
hit
Shell warned on April 7 it expected to book a See the archive and sign up to receive NRG Editor’s
write-down charge of between $4 and $5bn in Picks for free by email each week here.™

P12 www. NEWSBASE .com Week 15 14•April•2022