Page 16 - MEOG Week 29 2022

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global to introduce emergency stabilisation measures,
(NRG), in which the reader is invited to join which would allow the company to pass on
our team of international editors, who provide a increased procurement costs to customers, and
snapshot of some of the key issues affecting their secure a bailout that would give the government
regional beats. By clicking on the headline link a stake in the company.
for each section the full text will be available.
FSUOGM: Planning Power of Siberia 2
AfrOil: DRC increases block offering Mongolian Prime Minister Oyun-Erdene
The Democratic Republic of Congo (DRC) Luvsannamsrai has said he expects construction
has increased the number of blocks included of the Power of Siberia 2 gas pipeline to begin in
in an upcoming licensing round from 16 to 30, the landlocked country in 2024, and for gas flow
Minister of Hydrocarbons Didier Budimbu to start in 2030.
announced on July 18. Moscow is scrambling to develop alternative
In a Twitter post, Budimbu said his min- export routes for its substantial gas reserves, as
istry would start accepting bids for 27 poten- Europe, its largest market, pushes to eliminate
tially oil-bearing blocks and three potentially Russian gas imports.
gas-bearing blocks in Lake Kivu on July 28-29.
GLNG: Bulgaria’s Overgas signs LNG MoU
AsianOil: CNOOC innovates, invites bids Bulgaria’s Overgas, part-owned by US-based
China National Offshore Oil Corp. (CNOOC) Linden Energy, has signed a memorandum of
has launched its first self-developed subsea understanding with US LNG ship operator on
Christmas tree system in the Bohai Sea, Chinese acquiring 1bn cubic metres per year of natural
media have reported. gas from the latter’s planned regasification ter-
The state-owned company said in a separate minal in Vlora in south Albania.
announcement that it was offering 13 offshore The deal paves the way for the two sides to
oil and gas blocks up for bidding by foreign com- negotiate a 10-year sales and purchase agree-
panies in 2022. ment for the gas supply.

DMEA: Refining additions awaited LatAmOil: Fuel imports rise, as asphalt drops
Saudi Arabia’s Foreign Minister has called for The volume of refined petroleum products deliv-
greater investment in the conversion of oil into ered to Brazil and Argentina has been climbing
products, but said crude supplies are not in short this month, as South American fuel traders seek
supply. to cover the seasonal rise in demand during the
“As of today, we don’t see a lack of oil in the Southern Hemisphere’s summer harvest season
market. There is a lack of refining capacity, and inventory build-up ahead of the heating
which is also an issue, so we need to invest more season.
in refining capacity,” Prince Faisal bin Farhan According to shipping and commodity
Al Saud said during a visit to Tokyo. The prince tracking data compiled by S&P Global Platts,
also spoke of Russia’s importance to oil market the number of cargoes bound for Brazil hit 42
stability. as of July 19.
EurOil: Uniper seeks $2bn boost in credit line NorthAmOil: Halliburton’s improved results
German energy giant Uniper announced on July In this week’s NorthAmOil, we look at oil-
18 it was seeking an increase in a €2bn ($2.04bn) field services giant Halliburton’s Q2 results
state credit line, after drawing down the full announcement. The company, unencumbered
amount to deal with the financial fallout from by a $344mn write-down from the closure of
reduced Russian gas supply. its Russian assets, posted a 41% increase in Q2
Uniper has filed an application to increase profit compared to the first quarter, driven by
the line with state bank KfW, and earlier this higher demand for drilling on the back of buoy-
month also applied for the German government ant oil prices.™

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P16 www. NEWSBASE .com Week 29 20•July•2022