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Downstream impact

18 May 2022

NewsBase takes a brief look at some of the economic and political fallout from the Russia-Ukraine war, with a focus on regional markets for jet fuel and diesel around the world.

REM: $315mn in winning bids announced for US offshore wind lease

18 May 2022

TotalEnergies Renewables USA and Duke Energy Renewables Wind won a US government lease auction off the Carolinas with winning bids totalling $315mn. The tracts have a capacity of 1.3 GW.

NorthAmOil: Chevron sanctions Ballymore project in deepwater Gulf

18 May 2022

Chevron announced on May 17 that it had taken a final investment decision (FID) on the Ballymore project in the US Gulf of Mexico.

LatAmOil: CGX not yet ready to declare Kawa-1 commercial

18 May 2022

Canada’s CGX Energy, the operator of the Corentyne block offshore Guyana, is not yet ready to determine whether the hydrocarbon discovery at the Kawa-1 well is commercially viable.

AsianOil: Chinese refinery throughput down amid lockdowns

18 May 2022

Chinese refinery throughput was down 11% year on year in April, the latest data from the National Bureau of Statistics have shown.

AfrOil: Afreximbank, APPO aim to create new oil and gas financing avenue

18 May 2022

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organisation (APPO) are teaming up to establish a new avenue of funding for oil and gas projects in Africa.

EU opens loophole for Russian gas-for-rubles scheme

18 May 2022

The EU said that companies could keep buying Russian gas through Gazprombank without breaching sanctions for Russia’s military invasion of Ukraine, with the condition that they consider their obligations fulfilled once they pay in euros or dollars

Afreximbank, APPO sign MoU on establishment of pan-African oil and gas financing entity

18 May 2022

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organisation (APPO) are teaming up to establish a new avenue of funding for oil and gas projects in Africa, the African Energy Chamber (AEC) said.

Profits of Romanian gas, nuclear companies surge on high energy prices

16 May 2022

Two state-controlled energy companies in Romania — Romgaz and Nuclearelectrica — boasted record profits in the first quarter of this year helped by the high natural gas and electricity prices.

Estonian firms move forward with LNG facility project without state support

16 May 2022

The Paldiski terminal is expected to receive LNG from a floating terminal, ending Estonia's 80% dependence on Russian gas.

Russia dismisses report it plans to cut gas flow to Finland

14 May 2022

Kremlin spokesman Dmitry Peskov has rejected a Finnish media report that Russia is preparing to cut gas flow to the Nordic country over its decision to apply to join Nato.

bneGREEN: Climate change, war in Ukraine and rising prices create perfect storm threatening global food security

13 May 2022

The war in Ukraine has interrupted grain exports from the country and could create a global food crisis as vulnerable wheat importing countries in Africa and the Middle East face shortages and rising prices.

Petro Rio set acquire 90% of Albacora Leste

13 May 2022

Brazil’s Petro Rio is set to acquire a 90% share in the Albacora Leste field after striking a deal worth $1.951bn with the national oil company Petrobras.

Siemens to wind down Russian operations

12 May 2022

Should Siemens indeed pull out of Russia for good, it is unclear whether alternatives to Siemens gas turbines will be provided by domestic players.

REM: California sets goal for offshore floating wind of 3 GW by 2030 and up to 15 GW by 2045

11 May 2022

California officials have set a 3-GW goal for 2030 and up to 15 GW by 2045 of offshore wind, according to a draft report by the California Energy Commission (CEC).

EBRD 2022: Trade Commissioner hopeful for EU oil export ban deal to strike Russian war machine

11 May 2022

European Trade Commissioner Valdis Dombrovskis says sanctions on hydrocarbons will get "to the heart of the Kremlin war machine financing".

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