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Balance of Supply and Demand - November 2016
Austria >> 11/11/2016 - Demand for OPEC crude in 2016 was revised up by 0.1 mb/d to stand at 31.9 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected to be 32.7 mb/d, around 0.1 mb...
IMF Approves Biggest-Ever Mideast Loan to Revive Egypt’s Economy
IMF Approves Biggest-Ever Mideast Loan to Revive Egypt’s Economy Egypt >> 11/11/2016 - The International Monetary Fund approved a $12 billion loan program for Egypt to restore investor confidence and help revive an economy battered by years of political turmoil. ...
ADX Energy Announces Placements to Raise $802,000
Australia >> 11/9/2016 - ADX Energy Ltd is pleased to announce the completion of a two tranche placement to raise $802,000. Investors participating in the first tranche (Tranche 1) will participate proportionately in the seco...
San Leon Energy Announces Settlement with Avobone
Ireland >> 11/8/2016 - On 7 November 2016, Avobone N.V. and Avobone Poland B.V. (Avobone) (together, “Avobone”) and San Leon Energy Plc (San Leon) settled a number of ongoing disputes between them and between Avobone and ce...
OPEC & Non-OPEC Producers Agreement to Control Oil Market
OPEC & Non-OPEC Producers Agreement to Control Oil Market Venezuela >> 11/8/2016 - The Bolivarian Republic of Venezuela is committed to OPEC’s principles and fundamental objectives and continues to endeavor to achieve a much needed agreement among producers to restore the equilibriu...
Oil & Gas UK Calling on Government for a Recommitment to the Industry
United Kingdom >> 11/7/2016 - Trade body Oil & Gas UK has written to the Chancellor asking him to use his Autumn Statement later this month to help boost investor confidence in North Sea exploration and production. The North Sea o...
Bank Allots 40% of Resources to Oil, Energy Projects
Iran >> 11/6/2016 - Managing Director of Export Development Bank of Iran Ali Saleh Abadi says 30 to 40% of the bank's portfolio is used for funding oil, gas and petrochemical projects in Iran. ...
Woodfibre LNG to Proceed with Project
Canada >> 11/4/2016 - Woodfibre LNG Limited announced that its parent company Pacific Oil & Gas Limited, part of the Singapore-based RGE group of companies, has authorized the funds necessary for the Woodfibre LNG Project ...
Senegal at Crossroads as Oil Boom Looms
Senegal >> 11/4/2016 - In a report last week detailing sub-Saharan Africa's dire economic outlook, the International Monetary Fund singled out Senegal as a rare bright spot. One key reason: it does not produce oil. While lo...
Kuwait Petroleum Corp to Sell 2017 Gasoil, Jet Fuel at Lower Prices
Kuwait >> 11/3/2016 - Kuwait Petroleum Corp (KPC) has agreed to sell gasoil and jet fuel under long-term contracts for 2017 at nearly half the premiums of what it sold in 2016, traders said. ...
EMGS Reports Third Quarter 2016 Results
Norway >> 11/3/2016 - Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 4.5 million in the third quarter 2016, down from USD 16.3 million in the third quarter 2015 and from USD 15.1 million in the second quar...
Mitra Energy Announces US$68 Million New Funding
Malaysia >> 11/2/2016 - Mitra Energy Inc. (Mitra) is pleased to announce that, as a result of existing shareholders wishing to upsize their financing commitment to Mitra, the Company has decided that it will now be proceedin...
The Issuance of US $1,000,000,000 of Eurobonds Completed
Russia >> 11/2/2016 - PJSC "LUKOIL" announces the completion of the issuance of US$1,000,000,000 of Rule 144A/Regulation S notes. The offering consists of 10-year notes with a coupon of 4.750% per annum. The notes have bee...
DNO Reports Payment for Tawke Deliveries
Iraq >> 11/2/2016 - DNO ASA, the Norwegian oil and gas operator, received USD 31.33 million from the Kurdistan Regional Government as payment towards August crude oil deliveries to the export market from the Tawke field....
Petrobras Likely to Get Credit for Oil
Brazil >> 11/1/2016 - The revision of a massive exploration contract between Brazil's government and Petrobras will be based on the price of oil at the end of 2014, likely leaving the state-run oil company with a credit, t...
Iraq Asks Oil Majors to Downsize Costly Dubai Offices
Iraq >> 11/1/2016 - Iraq has asked international oil companies (IOCs) to shut down prestige offices among the glittering towers of Dubai, through? which they used to run their oil operations in Iraq, as a way to rein in ...
Subscription to Raise £3m & Proposed Open Offer of up to £2.06m
United Kingdom >> 11/1/2016 - Egdon is pleased to announce the following developments:
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No Partners for Ophir’s Floating LNG Project in EG
Equatorial Guinea >> 11/1/2016 - Ophir Energy can go ahead with its Fortuna floating liquefied natural gas project off Equatorial Guinea with or without new partners because the cost estimates have halved to around $450 million, a se...
US Stock Movements - October 2016
US Stock Movements - October 2016 United States >> 11/1/2016 - Preliminary data for September shows that total commercial oil stocks in the US fell by 11.2 mb, reversing the build of the last two months, to settle at 1,379.7 mb, which is around 74 mb, or 5.6%, ab...
Africa Energy Announces C$15 Million Private Placement
South Africa >> 10/31/2016 - Africa Energy Corp. (Africa Energy) intends to raise CDN$15 million in new equity through a non-brokered private placement of new shares (the "Offering"). The private placement will be effected on a r...

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