Page 15 - NorthAmOil Week 18 2022

NorthAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase’s Roundup Global (NRG)

GLOBAL WELCOME to NewsBase’s Roundup Global was on track to reach its full capacity of 10bn
(NRG), in which the reader is invited to join cubic metres per year in 2022, up from 8.2 bcm
our team of international editors, who provide a in 2021. The system will deliver 10bn cubic
snapshot of some of the key issues affecting their metres of natural gas to Italy, he stated at a con-
regional beats. We hope you will like NRG’s new ference in Baku.
concise format, but by clicking on the headline link
for each section the full text will be available as GLNG: Gunvor secures long-term deal with
before. Energy Transfer for US LNG
Swiss-based commodity trader Gunvor is to buy
Afroil: TotalEnergies joins other IOCs in 2mn tonnes per year of LNG from Energy Trans-
selling Nigerian onshore assets fer’s proposed Lake Charles LNG export terminal.
TotalEnergies (France) intends to join other Gunvor agreed to a 20-year FOB deal as European
international oil companies in trimming its buyers look to tie in long-term supply deals for
onshore portfolio in Nigeria. It will accom- US LNG supplies at below the current high spot
plish this goal by unloading its minority prices.
stake in Shell Petroleum Development Corp.
(SPDC), a joint venture that operates 19 LatAmOil: Olmeca refinery may cost as
onshore oil and gas licences in the southern much as $14bn
part of the country. The final price tag for the 340,000 barrel per
day refinery that Mexico’s national oil company
AsianOil: Indian refiners reportedly negoti- Pemex is building in Tabasco State may be nearly
ating oil import deal with Russia twice the original figure of $8bn, according to a
Indian refiners are reportedly in talks over a report from Reuters. The news agency reported
six-month deal to import oil from Russia. This late last week, citing government documents and
comes amid a rise in the Asian country’s oil sources close to the project, that officials in Mex-
imports in the wake of the war in Ukraine. ico City now believed that the NOC would have
While Western countries in particular have to spend around $14bn on the Olmeca refinery,
shunned Russian crude and imposed sanctions formerly known as Dos Bocas.
on Moscow, India has sought to benefit from
discounted oil from Russia as crude prices have MEOG: Iran looks for alternatives
risen to multi-year highs. Indeed, India is esti- In MEOG this week we look at Iran’s moves to
mated to have already bought more than twice deal with Venezuela and Saudi Arabia as nuclear
as much crude from Russia in the two months as deals wither. As the chances of resuscitating the
it did in the whole of 2021. Joint Comprehensive Plan of Action (JCPOA)
appear to grow slimmer by the day, Tehran is
DMEA: Ghana offers optimism on Tema courting alternative political ties as a means to
This week, DMEA looks at the voicing of opti- bring economic opportunity. Meanwhile, Iraqi
mism about the rehabilitation of Ghana’s only oil Prime Minister Mustafa al-Kadhimi was quoted
refinery. Ghanaian President Nana Akufo-Addo by the country’s Al-Sabah newspaper as saying
provided an update on efforts to repair and rein- that Tehran and Riyadh are working towards a
state capacity at the country’s Tema refinery. mutual understanding on improving bilateral
relations.
EurOil: BP attributes record quarterly loss
to Russia exit NorthAmOil: ExxonMobil, Chevron post
UK-listed super-major BP has posted a record first-quarter profits
loss of $20.4bn for the first quarter of 2022. US super-majors ExxonMobil and Chevron have
The company also reported its strongest oper- posted multi-billion-dollar profits for the first
ational performance in more than a decade on quarter of 2022, during which West Texas Inter-
the back of strong commodity prices, but this mediate crude prices averaged $95 per barrel and
was wiped out by a $24.4bn write-down in the briefly rose above $120 per barrel. ExxonMobil
quarter, largely related to BP’s decision to exit reported net income for the quarter of $5.5bn, or
its investments in Russia. $1.28 per share, down sequentially from $8.9bn
in the fourth quarter of 2021 but up from $2.7bn
FSUOGM: Aliyev says TAP pipeline will in the first quarter of last year.
reach full capacity in 2022
Ilham Aliyev, President of Azerbaijan, said on See the archive and sign up to receive NRG Editor’s
April 29 that the Trans Adriatic Pipeline (TAP) Picks for free by email each week here.™

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