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NorthAmOil: Targa to buy Lucid in $3.6bn Permian acquisition
Targa Resources announced on June 16 that it had struck a deal to buy Lucid Energy from Riverstone Holdings and Goldman Sachs Asset Management for $3.55bn in cash.
MEOG: Kuwait to drill offshore
LatAmOil: APA reports on size of Krabdagu-1 well offshore Suriname
APA Corp. (US) revealed on June 21 that Krabdagu-1, an exploration well drilled at Block 58 offshore Suriname, appears to contain at least 180mn barrels of oil in place (OIP).
EurOil: US-EU launch pathway to curb emissions
DMEA: Al-Zour commissioning under way
AsianOil: JGC Indonesia awarded EPC contract for Akatara gas plant and pipeline
Japan’s JGC Holding's subsidiary, JGC Indonesia, has won an EPC contract from Jadestone Energy for a gas processing facility and pipeline for the Akatara field.
AfrOil: First gas loaded into Coral Sul FLNG
The Coral South LNG consortium is on track to begin producing LNG on schedule in the second half of 2022, as it has begun loading natural gas into the Coral Sul floating LNG vessel.
China, India overtake Germany as Russia’s biggest buyer of crude oil
Oil imports by China and India from Russia have surged thanks to the sanctions on Russia in May to overtake Germany as Russia’s biggest trade partner.
GLNG: QatarEnergy adds more JVs for NFE development
REM: Desert climates in parts of Central Asia have spread up to 100 km since 1980s, says study
AfrElec: Nigeria needs $100bn to boost electricity supply, says World Bank
Nigeria needs around $100bn in the next 10 years to tackle the country’s unreliable power supply, the World Bank has estimated.
Russia-EU gas crisis enters next phase as Germany, Italy and France all report cuts in supply
The crisis in the EU-Russia gas relationship has taken another turn for the worse, with Germany, Italy and France all reporting cuts in supply after all three countries backed Ukraine’s bid for EU candidate status.
COMMENT: Fiscal challenge for Azerbaijan is to not spend the oil price boom
Counter-cyclical fiscal policy needed. Among other things, more modest budget spending would help country combat soaring inflation.
Face to face with Putin, Kazakhstan’s president refuses to recognise Ukraine breakaway republics
Hours later, Moscow announces difficulties with Kazakh oil shipments. Some analysts, however, argue the Kremlin benefits from Nur-Sultan’s moves to avoid sanctions.
Putin praises Bosnia’s Dodik for loyalty to Russia
Bosnian Serb leader travels to St Petersburg for SPIEF 2022 forum after blocking Bosnian efforts to impose sanctions on Russia.
FBK accuses Putin and Miller of using Gazprom as “bottomless purse” in latest scandal report
A report by Navalny's Anti-Corruption Foundation claims Gazprom CEO Alexey Miller has allegedly embezzled from Russia's gas giant to fund a network of properties and offshores. Putin's inner circle is also accused of profiting from the theft.
ESA report says satellite imagery reveals evidence of methane leak at Pemex platform
The European Space Agency (ESA) has published research showing that Mexico’s national oil company Pemex experienced a methane leak at an offshore platform last December.
Guyana wins praise for plan to use oil revenues to fund establishment of green economy
The Inter-American Development Bank (IADB) says Guyana’s government has succeeded in formulating a comprehensive plan aimed at using oil revenues to facilitate the move toward a greener economy.
Europe's gas storage tanks already half full, but will it be enough?
Gazprom cuts supplies of gas as Europe races to fill its storage tanks. These crossed the halfway mark on June 7 and are now 51.12% full, as the EU seeks to replenish its supplies ahead of the coming winter.
Romania receives gas from first new offshore development in 30 years
Romania aims to become a net exporter of gas following the discovery of large offshore resources in the Black Sea, but progress has been slow.
Tanzania LNG’s potential pitfalls
The initial HGA on Tanzania LNG represents a triumph for President Samia Suluhu Hassan, who has been working hard to revive the stalled $30bn deal, but the project’s timeline may be overly ambitious.
REM; US Department of Energy to guarantee $504.4mn loan to world’s largest clean hydrogen storage facility
The US Department of Energy has closed on a $504.4mn loan guarantee to the Advanced Clean Energy Storage (ACES) project in Utah, which will be the largest clean hydrogen storage facility in the world.
Calls growing for a price cap on Russian oil exports
Europe has been wrestling to get its members to sign up to a full ban on Russian oil products but a ban could send the price of oil up and make Russia even more money. Better to cap prices and starve the Kremlin of revenues.
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