Page 17 - LatAmOil Week 11 2022

LatAmOil NEWSBASE ROUNDUP GLOBAL (NRG) LatAmOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global banning imports of Russian oil, while the EU
(NRG), in which the reader is invited to join aims to cut its use of Russian gas by two thirds
our team of international editors, who provide a within a year, in light of the invasion of Ukraine.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new FSU OGM: UK puts sanctions on Gazprom
concise format, but by clicking on the headline and Rosneft CEOs
link for each section the full text will be available The UK has slapped sanctions on the CEOs of
as before. Russia’s largest oil and gas producers Rosneft and
Gazprom over Moscow’s invasion of Ukraine.
AfrOil: Eni, BP finalise plan for Azule JV Foreign Secretary Liz Truss announced a pack-
in Angola age of sanctions on March 10 in response to the
Eni and BP have finalised an agreement first escalating conflict in Ukraine, including an asset
announced in May 2021 to form an independ- freeze and travel ban measures on seven of Rus-
ent joint venture in Angola. The new company, sia’s wealthiest and most influential oligarchs.
Azule Energy, will combine all of the Italian and
British energy majors’ businesses in the African GLNG: China resells US LNG cargoes
country and will be managed independently. China is reported to have resold a handful of
US LNG cargoes to Europe as price trends and
AsianOil: South Korea approves oil release Russia’s war in Ukraine continue to reroute trade
to take pressure off refiners flows. This also marks the continuation of a trend
The South Korean government last week gave that emerged at the start of this year, whereby
the green light to release more than 4mn barrels Chinese oil and gas companies are seeking to
of oil from the country’s Strategic Petroleum resell excess cargoes of LNG in markets where
Reserve. The release follows a decision taken they would fetch a higher price.
earlier this month alongside the 30 other mem-
ber countries of the International Energy Agency MEOG: Iran boosts smaller fields
(IEA), which agreed to a co-ordinated release of National Iranian Oil Co. (NIOC) subsidiaries
60mn barrels of crude from SPRs worldwide. have said that new wells have been launched at
the Danan oilfield, with a contract signed for the
DMEA: Aramco takes Panjin FID expansion of Masjid Soleiman, the region’s old-
Saudi Aramco has taken a final investment deci- est field. Meanwhile, Petroleum Engineering and
sion on the establishment of an integrated refin- Development Co. (PEDEC) CEO Abuzar Sharifi
ery and petrochemical complex in north-eastern announced that NIOC had signed a memoran-
China in collaboration with local partners. The dum of understanding (MoU) on the second
Huajin Aramco Petrochemical Co. (HAPCO) phase of development.
was formed in late 2019 between the Saudi firm
and China’s North Huajin Chemical Industries NorthAmOil: ExxonMobil reportedly con-
Group Corp. and local government-owned Pan- sidering Bakken sale
jin Xincheng Industrial Group. ExxonMobil is reportedly considering a sale of
its assets in North Dakota’s Bakken play. Sources
EurOil: Sturgeon says extra North Sea familiar with the matter told Bloomberg that the
hydrocarbons not the answer super-major had been approached by interested
Scottish First Minister Nicola Sturgeon says parties. According to the sources, ExxonMobil
ramping up North Sea oil and gas output is not could receive up to $5bn for the assets. One of
a short-term solution to Europe’s significant the sources said the firm was in the final round
dependency on Russian gas. The UK and US are of interviewing banks to help launch the sale. ™

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