Page 16 - AfrOil Week 02 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global protests. Anti-government protests and subse-
(NRG), in which the reader is invited to join quent riots have swept across the Central Asian
our team of international editors, who provide a country in recent days in response to a hike in
snapshot of some of the key issues affecting their fuel prices, namely for LPG.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: Novatek signs Arctic LNG 2 supply
link for each section the full text will be available agreements with two Chinese firms
as before. Russia’s Novatek announced on January 11 that
it had struck separate long-term supply agree-
AsianOil: Bohai overtakes Daqing as ments with two Chinese companies – Zhejiang
China’s largest oilfield Provincial Energy Group and ENN Natural
The Bohai cluster offshore China has overtaken Gas. Both deals entail LNG being supplied from
Daqing to become the country’s largest pro- Novatek’s Arctic LNG 2 project, which is under
ducing oilfield. According to state news agency construction and scheduled to start production
Xinhua, output from Bohai hit 30.132mn tonnes in 2023.
(602,640 barrels per day) in 2021, edging out the
onshore Daqing, which produced 30mn tonnes LatAmOil: Ecuador lifts force majeure
(600,000 bpd) last year. The government of Ecuador has lifted a decla-
ration of force majeure on exports of crude via
DMEA: Refining in sight at Cabinda the country’s two main pipeline systems. Energy
The first of Angola’s three planned refineries is Minister Juan Carlos Bermeo made a formal
set to begin operations this year, following a final announcement too this effect on January 6,
investment decision by its British backer in late saying that the oil industry had taken sufficient
2020. Meanwhile, a group of investors that last action to mitigate the threat of soil erosion that
April leased a 49% stake in Saudi Aramco’s oil led to a 20-day shutdown in December.
pipeline business has hired Citi and JPMorgan
to help it refinance a loan arranged to support MEOG: INOC to take the reins
the deal. Iraq’s Ministry of Oil last week said that the
recently re-established Iraqi National Oil Co.
EurOil: Netherlands expects to nearly (INOC) would take control of ExxonMobil’s
double Groningen quota stake in the West Qurna-1 oilfield. Meanwhile,
The Dutch government said on January 6 that it the Iraqi cabinet has approved the framework
expected to increase the amount of gas permit- agreement for the development of a major
ted to be produced at the Groningen field in the cross-border pipeline that will transport oil from
current gas year to 7.6bn cubic metres, up from a the oil-rich Basra province to the Jordanian Red
previous allowance of 3.9 bcm. Groningen is the Sea port of Aqaba.
largest gas field in Europe outside Russia, but the
Netherlands has been steadily winding down its NorthAmOil: Enterprise to buy Navitas
output following years of earthquakes caused by Enterprise Products Partners announced this
production activities. week that it had agreed to acquire Navitas Mid-
stream Partners from an affiliate of Warburg
FSU OGM: Kazakhstan rolls back reforms Pincus for $3.25bn. The deal will expand Enter-
amid unrest prise’s presence into the Permian Basin’s Mid-
Kazakhstan has reimposed fuel price caps fol- land sub-basin, where the company does not
lowing its worst unrest since declaring inde- currently have gas or natural gas liquids (NGLs)
pendence in the early 1990s to a bid to quell operations other than downstream pipelines. ™

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P16 www. NEWSBASE .com Week 02 12•January•2022