Page 17 - AfrOil Week 07 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global rising oil and gas prices and economic recovery,
(NRG), in which the reader is invited to join our which more than offset the impact of OPEC+
team of international editors, as they provide a restrictions. The company, which accounts
snapshot of some of the key issues affecting their for 40% of Russian oil output, achieved a sev-
regional beats. We hope you will like NRG’s new en-fold increase in ruble terms in net profit to
concise format, but by clicking on the headline RUB883bn ($11.8bn), while in US dollar terms,
link for each section the full text will be available it rose almost sixfold to $11.9bn.
as before.
GLNG: China seeks greater global LNG
AsianOil: ConocoPhillips contracts rig for trading role
Malaysian drilling campaign China is reportedly working to establish itself
Units of the US independent ConocoPhillips as a major player in global LNG trading, as it
have contracted Icon Offshore to provide a expands natural gas consumption. The move is
jack-up rig for a multi-well drilling campaign coming around 20 years after the country made
offshore Malaysia that is due to start in Q2-2022. a similar push into crude oil trading.
According to a February 11 filing, Icon’s I Oilfield
Services subsidiary was issued a letter of award LatAmOil: ExxonMobil brings second
by two units collectively known as ConocoPhil- oilfield on stream offshore Guyana
lips Sarawak on December 23, 2021. ExxonMobil (US) and its partners have launched
commercial operations at the Liza-2 oilfield off-
DMEA: Karbala progresses, Sapref shuts shore Guyana, marking the start of their second
Iraq’s Karbala refinery is set to begin commis- development project at the Stabroek block. The
sioning on schedule in September before ramp- US super-major issued a statement announcing
ing up to full capacity in 2023, according to the first oil at Liza-2 on February 11, saying that
facility’s director. Meanwhile, BP and Shell have the Liza Unity floating production, storage and
announced plans to suspend operations at the off-loading (FPSO) unit had come on stream.
Sapref refinery indefinitely, saying they cannot
commit to any further expenditures until they MEOG: PIF picks up Aramco shares
make a decision on the fate of the plant, which Saudi Crown Prince Mohammed bin Salman
they have been operating through a joint venture. this week transferred 4% of Aramco’s shares to
the Kingdom’s sovereign wealth fund, the Pub-
EurOil: European gas prices bullish amid lic Investment Fund (PIF). Meanwhile, Iran’s
invasion warnings Petroleum Engineering and Development Co.
TTF gas prices were bullish in early trading (PEDEC) said this week that production capac-
this week, after the White House warned that a ity at the South Azadegan oilfield will increase by
Russian invasion of Ukraine could occur within 15,000 barrels per day (bpd) by the end of next
days. US President Joe Biden’s National Security month.
Advisor Jake Sullivan warned late on February
11 that Russia could launch a military incursion NorthAmOil: Alberta reportedly planning
“any day now” – possibly even before the Winter to toughen oil sands emissions standards
Olympics in Beijing end. The provincial government of Alberta is report-
edly planning to toughen its greenhouse gas
FSU OGM: Rosneft profits hit record on emissions standards for oil sands mines. The
high prices move would close a loophole that allowed some
Profits at Russia’s largest oil company Rosneft of the highest-emissions facilities to claim mil-
surged to a record-high last year on the back of lions of dollars’ worth of tradeable credits. ™

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Week 07 16•February•2022 www. NEWSBASE .com P17