Page 16 - NorthAmOil Week 28 2022

NorthAmOil NEWSBASE ROUNDUP GLOBAL (NRG) NorthAmOil

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global that the bloc runs the risk of “very, very strong
(NRG), in which the reader is invited to join conflict and strife” this winter over the high cost
our team of international editors, who provide a of energy, and in the short term, he called for the
snapshot of some of the key issues affecting their EU to expand its supply of fossil fuels to alleviate
regional beats. By clicking on the headline link the crisis.
for each section the full text will be available. In July last year, the EU passed its sweeping
Fit-for-55 climate package, aimed at rapidly
AfrOil: Namibia blasts Kavango critics reducing the use of oil, gas and coal and expand-
Namibia’s Energy Minister Tom Alweendo has ing the deployment of renewables and other
expressed frustration with critics of the country’s low-carbon technologies, in order to achieve its
plans to move forward with oil and gas explo- goal of reducing emissions by 55% by the end of
ration, asserting that much of the opposition the decade.
to these plans comes from foreign countries
that have already benefited from hydrocarbon FSUOGM: Nord Stream 1 outlook
development. The Nord Stream 1 pipeline closed down on July
“They did drill just like we are drilling, and 11 for routine maintenance that was planned
when their economy grew where it has grown, well in advance, and which takes place every
where they created the wealth they needed to summer.
have and have developed their people, now sud- While under normal circumstances the
denly they are telling us: ‘Stop doing that,’” he 10-day closure would be no cause for alarm,
remarked during an Energy Ministry informa- European officials have raised the possibility
tion session in Kavango East. that Moscow may keep the 55bn cubic metre per
year pipeline offline for longer, in order to fur-
AsianOil: Japan to conserve gas supplies ther destabilise European energy markets.
Japan is considering steps to conserve natural
gas supplies amid fears of a potential disruption. GLNG: Shell signs Mexico LNG supply deal
This week it emerged that Tokyo may ask house- Shell (UK) announced on July 12 that its subsid-
holds and businesses to cut back on gas usage iary Shell Eastern Trading Ltd had arranged to
when supply is tight. purchase 2.6mn tonnes per year of LNG from a
This comes after Moscow ordered the trans- new gas liquefaction plant slated for construc-
fer of ownership in the Sakhalin-2 oil and LNG tion at Puerto Libertad in Mexico’s Sonora State.
project to a newly established Russian company In a statement, Shell said that its subsidiary
and warned Japanese firms Mitsui & Co. and had signed a sales and purchase agreement
Mitsubishi, which own stakes in the project, that with an affiliate of the future plant’s owner and
they could lose their access to it. operator Mexico Pacific Ltd (MPL), which is
controlled by the US investment firm AVAIO
DMEA: Cabinda CDU and Nigerian biofuels Capital.
Brazilian contractor Odebrecht Engenharia e
Construção (OEC) this week announced that it MEOG: Progress and processing
has installed the distillation tower at the 60,000 In MEOG this week, we look at progress in Tur-
barrel per day refinery in Angola’s Cabinda key’s upstream, while Iran seeks to ramp up pro-
exclave. cessing capacity.
Meanwhile, a delegation from the Nigerian Turkish Petroleum Corp. (TPAO) this week
National Petroleum Corp. (NNPC) Ltd visited announced the discovery of a small onshore oil-
Kogi State this week as plans formalise around field as efforts ramp up to tap its flagship offshore
the development of a new biofuel plant. gas asset.
Meanwhile, Iran has announced plans to
EurOil: EU warns of “conflict and strife” increase its slate of gas-based products with a
The EU’s second most senior official has warned view to ramping up exports.™

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P16 www. NEWSBASE .com Week 28 15•July•2022