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Karoon Hits Pacific with Another Default Notice
Brazil >> 7/29/2016 - Karoon Gas Australia Ltd would like to update stakeholders on further developments relating to Karoon’s 65% owned Santos Basin Brazil blocks S-M-1037, 1101, 1102, 1165 & 1166. ...
Rosneft has Paid off Eurobonds to the Amount of $ 1 bln
Russia >> 7/27/2016 - Rosneft Finance S.A. (Rosneft subsidiary) has paid off series 2 eurobonds amounting to $1 bln of total nominal value. Those eurobonds were issued by the former TNK-BP Group in 2006, maturing 10 years ...
Receipt of Payment for KRI oil Exports from Taq Taq Field
Iraq >> 7/27/2016 - Genel Energy plc (‘Genel’) announces that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government (‘KRG’) for oil sales during June 2016. Gene...
Prosafe Implements Reorganisation & Rationalisation Program
Norway >> 7/26/2016 - As part of its cost efficiency measures reported in connection with the company's Q1 2016 report, Prosafe is implementing a reorganisation of the group's shore-based business resulting in a leaner org...
Latin America Oil Demand - July 2016
Latin America Oil Demand - July 2016 Argentina >> 7/26/2016 - Oil demand in Latin America is projected to decline in the current year by an estimated 30 tb/d for the second year in a row. In April 2016, product demand fell in Brazil compared to a year earlier, l...
Russian Oil Industry Close to Major Taxation Overhaul
Russia >> 7/25/2016 - Russia is planning to overhaul its oil industry tax, introducing a profit-based system designed to boost government revenue and lift output from 2018, according to documents seen by Reuters and indust...
Closing of a Second Tranche of a Private Placement
Closing of a Second Tranche of a Private Placement Egypt >> 7/25/2016 - SDX Energy Inc. an oil and gas exploration and production company with assets in Egypt, is pleased to announce that, further to its news release dated May 20, 2016, it has completed the second tranche...
India’s MRPL Pays Part of Oil Debts to Iran
Iran >> 7/23/2016 - India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) says it has paid $1.4 billion to Iran in outstanding debts for previous oil purchases. ...
“For The Love of Oil”…… a Book by J-Servais
“For The Love of Oil”…… a Book by J-Servais United States >> 7/20/2016 - After working more than 50 years in the Oil and Gas industry J.Servais wrote the book ‘For The Love Of Oil’, to avoid human mistakes that resulted in major disasters such the Piper Alpha or the Gulf o...
BP Puts 2010 Gulf of Mexico Penalties at $62b
Mexico >> 7/14/2016 - BP estimated costs from its deadly 2010 Gulf of Mexico spill will total $61.6 billion after it agreed to a new $5.2 billion charge it said largely drew claims to a close. ...
Nostra Terra Raises £250,000 via Placing of New Shares
United Kingdom >> 7/14/2016 - Nostra Terra, the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, is pleased to announce that it has raised gross proceeds of £250,000 via the placing o...
Most Major Conventional Oil Projects at Risk at $50 Oil Price
Nigeria >> 7/13/2016 - Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie said in a report. ...
Balance of Supply and Demand - July 2016
Austria >> 7/12/2016 - Demand for OPEC crude in 2016 is expected to be 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 33.0 mb/d, 1.1 mb/d higher than this year’s...
KMG EP Receives Payment of 44 bn Tenge from KMG RM
Kazakhstan >> 7/8/2016 - JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that it has received a payment of 44 bn Tenge (US$130m) from JSC KazMunayGas – Refining and Marketing (“KMG RM”) for crude ...
Sound Gets Potential Tendrara Backing
Morocco >> 7/7/2016 - Sound Energy, the European / Mediterranean focused upstream gas company, is pleased to announce that it has received a non-binding Expression of Interest from Oil & Gas Investment Fund ("OGIF"), its p...
Brazil Committee Votes to End Exclusive Petrobras Subsalt Rights
Brazil >> 7/7/2016 - A bill that would allow companies other than state-led Petrobras to run new oil and gas projects in Brazil's prolific subsalt region advanced when a committee of the lower house of Congress voted to r...
Tullow Oil Plc Convertible $300 Million Bond Offering
United Kingdom >> 7/6/2016 - Tullow Oil plc (Tullow Oil) announces the launch of an offering (the “Offering”) of $300 million of Convertible Bonds due 2021 (the “Bonds”). The proposed Convertible Bond Offering will further divers...
Twin Crises Expose Angola's Failure to Kick its Oil Habit
Angola >> 7/5/2016 - A month ago, a 17 ton shipment of bananas left Angola for Portugal in what state media heralded as a "first symbolic batch" in the resurgence of a farming sector wiped out by civil war. But that war e...
SOCAR Vice President Attends GGFR Meeting in London
Azerbaijan >> 7/5/2016 - SOCAR Vice President for Ecology Rafiga Huseynzade attended a meeting held by the World Bank’s Global Gas Flaring Reduction Partnership (GGFR) managing committee at the EBRD office in London, June 29-...
Petrobras' Indian Partners Fight Delay in Troubled Brazil Oil Project
Brazil >> 7/4/2016 - Petrobras has warned its Indian partners in a huge offshore project to not expect oil from the site until 2022, according to sources, a fresh sign of how low oil prices and the state-owned company's c...

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