Page 15 - GLNG Week 11 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global Gazprom over Moscow’s invasion of Ukraine.
(NRG), in which the reader is invited to join Foreign Secretary Liz Truss announced a pack-
our team of international editors, who provide a age of sanctions on March 10 in response to the
snapshot of some of the key issues affecting their escalating conflict in Ukraine, including an asset
regional beats. We hope you will like NRG’s new freeze and travel ban measures on seven of Rus-
concise format, but by clicking on the headline link sia’s wealthiest and most influential oligarchs,
for each section the full text will be available as all of which have close ties to Russian President
before. Vladimir Putin.

AfrOil: Eni, BP finalise plan for Azule JV GLNG: China resells US LNG cargoes
in Angola China is reported to have resold a handful of
Eni and BP have finalised an agreement first US LNG cargoes to Europe as price trends and
announced in May 2021 to form an independ- Russia’s war in Ukraine continue to reroute trade
ent joint venture in Angola. The new company, flows.
Azule Energy, will combine all of the Italian and This also marks the continuation of a trend
British energy majors’ businesses in the African that emerged at the start of this year, whereby
country and will be managed independently. Chinese oil and gas companies are seeking to
resell excess cargoes of LNG in markets where
AsianOil: South Korea approves oil release they would fetch a higher price.
to take pressure off refiners
The South Korean government last week gave LatAmOil: Eco Atlantic to expand Guyana
the green light to release more than 4mn barrels foothold via acquisition of JHI
of oil from the country’s Strategic Petroleum UK-based Eco (Atlantic) Oil & Gas said on
Reserve. March 14 that it had expanded its foothold in
The release follows a decision taken earlier Guyana’s offshore zone by striking an agreement
this month alongside the 30 other member on the acquisition of JHI Associates, a Canadian
countries of the International Energy Agency company that holds a 17.5% working interest in
(IEA), who agreed to a co-ordinated release of the Canje block. In a statement, Eco Atlantic said
60mn barrels of crude from SPRs worldwide. it had signed a commercially binding term sheet
to acquire 100% of JHI, including its cash and
DMEA: Aramco takes Panjin FID capital balances as well as its equity stake in Canje.
This week’s DMEA covers Saudi Aramco’s
investment decision on the development of a MEOG: Iran boosts smaller fields
major integrated downstream unit in China. This week’s MEOG looks at Iranian efforts to
The company said last week that it had taken a increase output from two long-standing, smaller
final investment decision on the establishment oilfields as part of a wider effort to increase pro-
of an integrated refinery and petrochemical duction. National Iranian Oil Co. (NIOC) sub-
complex in north-eastern China in collabora- sidiaries said that new wells had been launched
tion with local partners. The Huajin Aramco at the Danan oilfield with a contract signed for
Petrochemical Co. (HAPCO) was formed in the expansion of Masjid Soleyman, the region’s
late 2019 between the Saudi firm and China’s oldest field. Meanwhile, Petroleum Engineer-
North Huajin Chemical Industries Group Corp. ing and Development Co. (PEDEC) CEO Abu-
and local government-owned Panjin Xincheng zar Sharifi announced that NIOC had signed a
Industrial Group. memorandum of understanding for the Masjid
Soleyman’s second phase of development.
EurOil: Sturgeon says extra North Sea hy-
drocarbons not the answer NorthAmOil: ExxonMobil reportedly con-
Scottish First Minister Nicola Sturgeon has said sidering Bakken sale
that ramping up North Sea oil and gas produc- ExxonMobil is reportedly considering a sale of
tion is not a short-term solution to Europe’s sig- its assets in North Dakota’s Bakken play. Cit-
nificant dependency on Russian gas. The UK and ing sources familiar with the matter, Bloomb-
US are banning imports of Russian oil, while the erg reported that the super-major had been
EU has ambitious plans to reduce its use of Rus- approached by interested parties. According to
sian gas by two thirds within a single year, in light the sources, ExxonMobil could receive up to
of Moscow’s invasion of Ukraine. $5bn for the assets. And one of the sources added
that the company was in the final round of inter-
FSUOGM: UK slaps sanctions on Gazprom, viewing banks to help launch a sale process.
Rosneft CEOs
The UK has slapped sanctions on the CEOs of See the archive and sign up to receive NRG Editor’s
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Week 11 18•March•2022 www. NEWSBASE .com P15