Page 18 - DMEA Week 18 2022

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global 2mn tonnes per year of LNG from Energy Trans-
(NRG), in which the reader is invited to join fer’s proposed Lake Charles LNG export termi-
our team of international editors, who provide a nal. Gunvor agreed to a 20-year FOB deal as
snapshot of some of the key issues affecting their European buyers look to tie in long-term supply
regional beats. deals for US LNG supplies at below the current
We hope you enjoy NRG’s new concise for- high spot prices.
mat, but by clicking on the headline link for each
section the full text will be available as before. LatAmOil: Olmeca refinery may cost $14bn
The final price tag for the 340,000 barrel per
Afroil: TotalEnergies sell Nigerian assets day refinery that Mexico’s national oil company
TotalEnergies (France) intends to join other Pemex is building in Tabasco State may be nearly
international oil companies in trimming its twice the original figure of $8bn, according to a
onshore portfolio in Nigeria. report from Reuters.
It will accomplish this goal by unloading its The news agency reported late last week, cit-
minority stake in Shell Petroleum Development ing government documents and sources close
Corp. (SPDC), a joint venture that operates 19 to the project, that officials in Mexico City now
onshore oil and gas licences in the southern part believed that the NOC would have to spend
of the country. around $14bn on the Olmeca refinery, formerly
known as Dos Bocas.
AsianOil: Russia deal in the works in India
Indian refiners are reportedly in talks over a MEOG: Iran looks for alternatives
six-month deal to import oil from Russia. This In MEOG this week we look at Iran’s moves to
comes amid a rise in the Asian country’s oil deal with Venezuela and Saudi Arabia as nuclear
imports in the wake of the war in Ukraine. deals wither.
As the chances of resuscitating the Joint
EurOil: BP attributes loss to Russia exit Comprehensive Plan of Action (JCPOA) appear
UK-listed super-major BP has posted a record to grow slimmer by the day, Tehran is courting
loss of $20.4bn for the first quarter of 2022. alternative political ties as a means to bring eco-
The company also reported its strongest nomic opportunity. Meanwhile, Iraqi Prime
operational performance in more than a decade Minister Mustafa al-Kadhimi was quoted by
on the back of strong commodity prices, but this the country’s Al-Sabah newspaper as saying
was wiped out by a $24.4bn write-down in the that Tehran and Riyadh are working towards a
quarter, largely related to BP’s decision to exit its mutual understanding on improving bilateral
investments in Russia. relations.

FSUOGM: TAP to reach capacity in 2022 NorthAmOil: Majors post Q1 profits
Ilham Aliyev, President of Azerbaijan, said on US super-majors ExxonMobil and Chevron
April 29 that the Trans Adriatic Pipeline (TAP) have posted multi-billion-dollar profits for the
was on track to reach its full capacity of 10bn first quarter of 2022, during which West Texas
cubic metres per year in 2022, up from 8.2 bcm Intermediate crude prices averaged $95 per bar-
in 2021. The system will deliver 10bn cubic rel and briefly rose above $120 per barrel.
metres of natural gas to Italy, he stated at a con- ExxonMobil reported net income for the
ference in Baku. quarter of $5.5bn, or $1.28 per share, down
sequentially from $8.9bn in the fourth quarter
GLNG: Gunvor secures long-term LNG deal of 2021 but up from $2.7bn in the first quarter
Swiss-based commodity trader Gunvor is to buy of last year.™

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P18 www. NEWSBASE .com Week 18 05•May•2022