Page 17 - MEOG Week 10 2023

MEOG NEWSBASE ROUNDUP GLOBAL (NRG) MEOG

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global The programme will entail a $2.4bn invest-
(NRG), in which the reader is invited to join ment in the UK and a $1.2bn investment in India.
our team of international editors, who provide a
snapshot of some of the key issues affecting their FSUOGM: Naftogaz makes loss in 2022
regional beats. By clicking on the headline link for According to the chairman of Naftogaz, Oleksiy
each section the full text will be available. Chernyshov, the company has recorded a pre-
liminary net loss of around UAH40bn ($1.1bn)
AfrOil: Mozambique LNG back on track for the year 2022, Interfax Ukraine reported on
Alessandro Puliti, the CEO of the Italian oil- March 2.
field services provider Saipem, says work on During a Forbes Business Breakfast stream,
the Mozambique LNG project, led by France’s he revealed that unprofitable activity was mostly
TotalEnergies, will resume this summer. due to significant receivables that arose after the
“We expect to gradually restart the project, state used Naftogaz’s working capital to meet the
according to the information received by our cli- energy supply needs of consumers.
ents, starting from July this year,” Puliti informed
analysts during Saipem’s 2022 earnings call on GLNG: Germany eyes more LNG imports
February 28. Germany is planning to top 70mn tonnes per
year of liquefied natural gas import capacity
AsianOil: Indian LNG unit to come online by the end of the decade, Argus Media reports
A long overdue LNG import terminal in India is citing documents from the German economic
now expected to begin operating by the summer. ministry (BMWK) and planning applications
Tentative start dates for the plant coming from German multinational energy utility RWE.
properly online are currently mentioning mid-
June, although as with much in Indian LNG LatAmOil: Pemex fails to halt Ixachi flaring
and power infrastructure in general, seeing is Mexico’s national oil company Pemex has failed
believing. to uphold the commitment it made late last year
to stop flaring at Ixachi, one of the country’s
DMEA: Luberef signs Yanbu expansion deal major natural gas fields, by mid-January of 2023,
Saudi Aramco Base Oil Co. (Luberef) has according to an exclusive report from Reuters.
announced the signing of an engineering pro- The state-owned company had pledged to
curement and construction contract with Egypt’s halt flaring at Ixachi, which is located in Veracruz
Petrojet for the expansion of its Yanbu facility. State, after coming under growing environmental
The EPC contract is part of Luberef’s Growth pressure.
II project which aims to expand the Yanbu facili-
ty’s base oil production capacity to around 1.3mn NorthAmOil: Low prices change plans
tonnes per year by 2025, allowing it to produce The US may have seen a sudden uptick in gas
more Group II and Group III base oils to meet prices since the third week of February, when
growing market demand. Henry Hub gas prices had plummeted around
78% since August of 2022.
EurOil: Essar unveils transition plans But despite the sharp uptick, the six-
India’s Essar Group has created a new division to month decrease in price has been stymying
focus on the energy transition, with projects in deal-makers.™
the UK set to play a leading role.

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