Page 19 - AfrOil Week 09 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global to events in Ukraine than its European peers
(NRG), in which the reader is invited to join our BP, Equinor and Shell, which have all said they
team of international editors, as they provide a intend to exit Russia altogether.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new GLNG: Shell, PipeChina sign terminal use
concise format, but by clicking on the headline agreement
link for each section the full text will be available Subsidiaries of Shell (UK) and China Oil & Gas
as before. Pipeline Network, known as PipeChina, have
signed a memorandum of co-operation (MoC)
AsianOil: JERA to pursue LNG-to-power and two terminal use agreements. The terminal
project in Vietnam user agreements with Shell Energy (China) are
Japan’s JERA announced on March 1 that it had for two LNG receiving facilities, Yuedong LNG
kicked off full-scale operations in Vietnam. The and Beihai LNG, for this year.
company, a 50:50 joint venture between utilities
Tokyo Electric Power Co. (TEPCO) and Chubu LatAmOil: IEASA gets green light for Vaca
Electric Power, intends to pursue LNG-to-power Muerta gas line
projects through its new Vietnamese unit. Argentina’s government has authorised state-
owned Integración Energética SA (IEASA)
DMEA: Asset sales and petchem plans to build a new pipeline that will serve uncon-
Bahrain’s Oil & Gas Holding Co. (nogaholding) ventional gas fields in the Vaca Muerta shale
is hiring a team of advisors to work on plans to formation. Buenos Aires gave IEASA a green
monetise oil and gas assets, according to the light for the project last week, when it issued a
company’s CEO. Meanwhile, Iran’s state petro- decree granting the company a concession for
chemical firm intends to more than double the the project.
country’s supply of feedstock for petrochemical
projects by the end of the decade. MEOG: Aramco makes gas finds
Riyadh announced over the weekend that state
EurOil: Nord Stream 2 becomes insolvent oil firm Saudi Aramco has discovered new gas
The Swiss-based operator of Russia’s beleaguered fields in four regions of the Kingdom, boosting
Nord Stream 2 gas pipeline project has become the size of its conventional and unconventional
insolvent, a Swiss official said on March 1. The gas reserves. Meanwhile, Oman’s Ministry of
US slapped Nord Stream 2 with additional sanc- Energy and Mineral Resources (MoEM) is hold-
tions last week in response to Russia’s recogni- ing talks with Shell and TotalEnergies regarding
tion of eastern Ukraine’s breakaway regions of a potential deal to develop gas from the Sultan-
Donetsk and Lugansk as independent, while ate’s Block 11 concession, expanding a December
German Chancellor Olaf Scholz announced that agreement.
his government would halt the certification pro-
cess necessary for the pipeline to start up. NorthAmOil: IEA members to release
60mn barrels amid Ukraine conflict
FSU OGM: TotalEnergies to remain in International Energy Agency (IEA) member
Russia despite Ukrainian invasion states, led by the US, agreed on March 1 to a
French oil major TotalEnergies has said it intends co-ordinated release of crude oil from emer-
to stay put in Russia despite Moscow’s invasion gency stockpiles. The decision comes in the wake
of Ukraine, although it has said it will not invest of Russia’s invasion of Ukraine last week and will
in any new projects in the country. TotalEner- result in 60mn barrels of oil being released onto
gies has shown greater restraint in its response the market. ™

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Week 09 02•March•2022 www. NEWSBASE .com P19