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IMF Sees Oil Making Up as Much as 4% of Battered Uganda Economy
Uganda >> 7/25/2017 - Uganda's new-found oil reserves may account for as much as 4 percent of its economy annually in coming years if managed well, the International Monetary Fund's country chief says. IMF Mission Chief fo...
UAE Oil Giant in Talks to Obtain Loan of up to $5 billion
United Arab Emirates >> 7/24/2017 - Abu Dhabi oil giant Adnoc is in talks to obtain a syndicated loan worth up to $5 billion, the latest sign that the region's giant oil companies are increasingly turning to the debt markets to fund exp...
Falcon Seaboard Launches $145 Million Permian Investment Fund
United States >> 7/24/2017 - Falcon Seaboard Resources, LLC announced the launch of the $145 million Falcon Seaboard Permian Fund I, LP. The fund is the first time David Dewhurst, the CEO and Chairman of Falcon Seaboard Diversifi...
Orpic Wins Project Finance Deal of the Year Award for LPIC Deal
Oman >> 7/24/2017 - As one of its values to aim for leading performance, Orpic has been awarded the perfect Project Finance Deal of the year (2016) from Trade and Export Finance Agency (TXF) for the LPIC project finance ...
Total & Worldline with InTouch to Support Deployment of Guichet Unique
Cameroon >> 7/24/2017 - Total and Worldline [Euronext: WLN] signed binding technological, commercial and financing agreements with African fintech InTouch on July 13, 2017. Under the agreements, Total and Worldline will supp...
Wentworth Resources Provides Update on its Mnazi Bay Asset
Tanzania >> 7/19/2017 - Wentworth, the Oslo Stock Exchange and AIM listed independent, East Africa-focused oil & gas company, is providing an update to shareholders. ...
SAP Partners with Saudi Aramco to Create Digital Business Marketplace
Saudi Arabia >> 7/18/2017 - SAP is partnering with Saudi Aramco in creating a new solutions platform to enable Saudi Aramco to launch a digital business marketplace with thousands of Saudi Aramco buyers and suppliers in partners...
Premier Oil Receives Approval for Refinancing
United Kingdom >> 7/18/2017 - Premier is pleased to announce that the schemes of arrangement (the Schemes) of Premier and Premier Oil UK Limited received final sanction today at a hearing of the Court of Session in Scotland. Follo...
Cooper Energy Still Seeking Financing for Sole Gas Project
Australia >> 7/17/2017 - Cooper Energy Limited provides the following update on the status of the Sole gas project debt financing. The company is pursuing a dual stream process to identify and secure the optimal financing for...
Balance of Supply and Demand in 2018 - July 2017
Balance of Supply and Demand in 2018 - July 2017 Austria >> 7/17/2017 - Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for the year 2018, the demand for OPEC crude next year is projected to decline slightly by 0....
SBM Offshore Agrees Heads of Terms on Yme Insurance Claim
Norway >> 7/17/2017 - SBM Offshore has agreed Heads of Terms for settlement with a 73.6% majority group of the US$500 million primary insurance layer for the settling of insurers’ shares of SBM Offshore’s insurance claim r...
Gazprom Creates Commission on Strengthening Financial Discipline for Domestic Gas Supplies
Russia >> 7/14/2017 - The Gazprom Board of Directors held a meeting in absentia. The decision was taken to create a Commission under the Board of Directors to strengthen financial discipline for domestic gas supplies in th...
DoJ Seeks Forfeiture of Assets in Nigerian Corruption Complaint
Nigeria >> 7/14/2017 - The Department of Justice announced the filing of a civil complaint seeking the forfeiture and recovery of approximately $144 million in assets that are allegedly the proceeds of foreign corruption of...
Saudi Aramco Drilling Co Seen Starting Commercial Operations in Q3
Saudi Arabia >> 7/13/2017 - The Saudi Aramco Nabors Drilling Co (SANAD) joint venture is expected to start commercial operations in the third quarter of this year, Saudi Aramco said in its weekly magazine, the Arabian Sun. *Saud...
$750m Salalah Ammonia Project Nearing Financial Closure in Oman
Oman >> 7/12/2017 - Having nailed down contracts for its $826 million Salalah LPG Extraction Project, Oman Oil Company (OOC) — the wholly government-owned energy investment arm — is now gearing up to deliver its next pet...
Balance of Supply and Demand - July 2017
Austria >> 7/12/2017 - Demand for OPEC crude in 2017 is estimated at 32.3 mb/d, which is 0.3 mb/d higher than the 2016 level. In 2018, the demand for OPEC crude is projected at 32.2 mb/d, which is around 0.1mb/d less than ...
Minister of Petroleum Celebrating Final Installment Payment of EDCO Liquefaction Plant
Minister of Petroleum Celebrating Final Installment Payment of EDCO Liquefaction Plant Egypt >> 7/12/2017 - During a meeting organized by Shell on the occasion of final installment payment of EDCO liquefaction plant project, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources clarified that EDC...
Silverback Exploration II Forms with $500m Equity Commitment
United States >> 7/10/2017 - Silverback Exploration II, LLC (Silverback II), an independent oil and gas exploration company based in San Antonio, has secured an initial equity commitment of $500 million from EnCap Investments L.P...
Altona Energy Raises £150,000 from Placing Shares
United Kingdom >> 7/7/2017 - Altona Energy Plc has raised £150,000 from a placing of 100,000,000 new ordinary shares of 0.1p each in the Company (the “Placing Shares”) at an issue price of 0.15p per share through a placing with n...
SOCAR Says Returned To Profit Last Year
Azerbaijan >> 7/7/2017 - Azeri state energy company SOCAR made a net profit of 350 million manats ($206 million) last year, which compared with a net loss of 1.584 billion manats in 2015, the company said on Friday. ...

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