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Gabon Tells Total to Pay $805m in Taxes
Gabon >> 2/21/2014 - Gabon's government has told French oil major Total's local subsidiary to pay $805 million in taxes it owes for 2008 to 2010, in a case watched closely by potential new investors in the West African co...
Lukoil Profit Falls on Write-Offs at Major Projects
Iraq >> 2/19/2014 - Lukoil Russia's No.2 oil producer, posted worse-than-expected net profit in 2013, hit by write-offs at some major projects it once touted as the breakthrough finds to boost earnings. ...
Baker Hughes Signs LOI to Fully Fund Production Strategy
Poland >> 2/12/2014 - San Leon Energy plc has signed a Letter of Intent (“LOI”) with Baker Hughes Poland Sp. z o.o. (“Baker”) to jointly begin to develop the Siekierki Gas Field1 in Poland, including Polish Concessions 206...
Oil market highlights - Feb 14
Austria >> 2/12/2014 - Crude Oil Price Movements
The OPEC Reference Basket declined by almost $3 to $104.71/b in January amid bearish sentiment. ICE Brent futures dropped 3.2% to $107.11/b following a 2.5% gain...
Balance of Supply and Demand - Feb 14
Austria >> 2/12/2014 - Demand for OPEC crude remained unchanged in 2013 and 2014, however some upward revisions were observed during 4Q13. The demand for OPEC crude is estimated at 29.9 mb/d in 2013, representing a decrea...
PNG to Retain Oil Search Stake to Pay off A$1.68b Bond
Papua-New Guinea >> 2/6/2014 - Papua New Guinea has decided to raise A$1.68 billion ($1.48 billion) to pay off a bond it issued to Abu Dhabi in 2009 instead of giving up a strategic stake in oil and gas producer Oil Search, a sourc...
OER Announces Agreement for $50m Private Placement
Nigeria >> 1/28/2014 - Oando Energy Resources Inc, a company focused on oil and gas exploration and production in Nigeria , announced that it intends to complete an arms length non-brokered private placement (the "Offering"...
RSM Settlement and US$16.3m Received
Cameroon >> 1/24/2014 - Victoria Oil & Gas Plc announces that the Company and its operating subsidiary, Gaz du Cameroun SA ("GDC") have signed a Settlement Agreement with RSM Production Corporation ("RSM") in relation to the...
Iraq Needs KRG Oil Income to Avert Budget Collapse
Iraq >> 1/19/2014 - Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury - or loses its share of state spending, a senior lawma...
Eni is Not Involved in Illegal Conduct in Algeria
Algeria >> 1/18/2014 - Italian energy company Eni said there was no evidence to suggest it was involved in illegal conduct while working in the Algerian energy sector. ...
Balance of Supply and Demand - Jan 14
Austria >> 1/16/2014 - The demand for OPEC crude in 2013 is estimated at 29.9 mb/d in 2013, representing a decrease of 0.5 mb/d from a year earlier and unchanged from the previous report. In 2014, required OPEC crude is f...
Iraq Draft Budget Intensifies KRG Oil Export Row
Iraq >> 1/15/2014 - Iraqi Kurdish ministers walked out of a cabinet session in protest at the country's draft 2014 budget, further complicating a feud over the autonomous region's plans to export crude via a new pipeline...
Oil Market Highlights - Jan 14
Austria >> 1/14/2014 - Crude Oil Price Movements
The OPEC Reference Basket rebounded by $2.70 in December to settle at $107.67/b. In annual terms, the Basket price averaged around $106/b in 2013, a decline of a...
Sound Oil Provides Italian Work Program
Italy >> 1/14/2014 - Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to confirm its 24 month Italian work programme. ...
RSM Failed to Pay Two Cash Calls Issued by GDC
Cameroon >> 1/13/2014 - The Company announces that RSM Production Corporation ("RSM") has failed to pay two cash calls which were issued by Company subsidiary Gaz du Cameroun ("GDC") on 23 December 2013 (the "2013 Cash Calls...
Iran Oil Projects Finance Doubles
Iran >> 1/12/2014 - A deputy petroleum minister has said that budget allocation to petroleum industry projects has doubled in one month. ...
Iran Denies Oil Barter Deal with Russia
Iran >> 1/11/2014 - Iran’s Petroleum Ministry denied any oil-for-goods contract between the Islamic Republic and Russia. ...
Baker Says Iraq Suspension Hit Fourth-Quarter Profit
Iraq >> 1/10/2014 - Baker Hughes Inc, the world's third-largest oilfield services company, estimated fourth-quarter profit well below Wall Street expectations, largely due to the suspension of its operations in Iraq foll...
Brent Holds Steady $107 on Worries Over Libyan Supplies
Libya >> 1/8/2014 - Brent crude held its ground above $107 per barrel on Wednesday, supported by new worries over Libyan supplies and expectations of another drop in U.S. crude inventories. Although Libya may boost produ...
Victoria O&G Announces Details of Commercial Developments
Cameroon >> 1/8/2014 - Victoria Oil & Gas Plc, the emerging African energy utility company, announces the signing of key customer agreements that places Cameroon operating subsidiary, Gaz du Cameroun (GDC), in a strong posi...

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