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Japan's TOCOM & DME in Pact to Develop Energy Contracts
United Arab Emirates >> 3/17/2014 - The Tokyo Commodity Exchange (TOCOM) and the Dubai Mercantile Exchange (DME) have signed a memorandum of understanding for the development of energy contracts, such as crude oil, the Japanese commodit...
Canacol to Upsize Senior Secured Term Loan to $220 million
Colombia >> 3/17/2014 - Canacol Energy Ltd has entered into discussions to upsize its existing senior secured term loan with a syndicate of banks led by Credit Suisse as Lead Arranger, Sole Bookrunner and Administrative Agen...
Oil market highlights - Mar 14
Austria >> 3/12/2014 - Crude Oil Price Movements
The OPEC Reference Basket edged up 70¢ to settle slightly above $105/b in February, as cold weather, supply disruptions and geopolitical factors helped to push o...
Balance of Supply and Demand - Mar 14
Austria >> 3/12/2014 - Demand for OPEC crude was revised up by 0.1 mb/d from the previous report for both 2013 and 2014. The demand for OPEC crude is estimated at 30.0 mb/d in 2013, representing a decrease of 0.5 mb/d fro...
Norway Wealth Fund Examining Total's Ethics in W.Sahara
Western Sahara >> 3/12/2014 - Norway's sovereign wealth fund is examining the operations of oil firm Total in Western Sahara, a disputed region of North Africa with a history of human rights abuses, to ascertain whether its activi...
Seplat to List on London and Nigerian Stock Exchanges
Nigeria >> 3/11/2014 - Seplat plans to raise at least $500 million by floating shares on the London and Nigerian stock exchanges to pay down debt and fund acquisitions, it said. ...
Egypt Tries Harder to Stop Energy Firm Exodus
Egypt >> 3/6/2014 - Egypt is enhancing exploration terms and striving to repay nearly $5 billion it owes to foreign oil and gas producers as it struggles to prevent them fleeing to more promising prospects elsewhere in A...
Extension of Loan Facility & Exercise of Options to Raise £6m
Nigeria >> 2/27/2014 - Eland Oil & Gas PLC, an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, is pleased to announce that it has extended its US$22 million loan faci...
Libya Puts Ministries Under Special Budget Rules After Oil Revenue Slump
Libya >> 2/24/2014 - Libya has put some government departments under special spending rules as a slump in oil revenue has hampered drafting a budget for this year, officials and experts said, highlighting the dire situati...
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...

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