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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...
New Age secures US$425 million Borrowing Facility
Nigeria >> 6/30/2016 - New Age (African Global Energy) Ltd (New Age), a private African-focussed oil and gas company, has closed a US$425 million senior secured loan facility and has drawn US$350 million on 28 June 2016. Th...
Circle Oil Announces Suspension of Shares
United Kingdom >> 6/29/2016 - In the announcement of the Company's annual results for the period ended 31 December 2015 published earlier today, the Company stated that it is expected to require a renegotiation of its existing fun...
10% Hike in Hydrocarbon Exports Expected in 2016, Sonatrach
Algeria >> 6/27/2016 - Sonatrach Group banks on a hike in its hydrocarbon exports to 108 million ton oil equivalent (TOE) in 2016 against 98.1 million TOE in 2015, i.e. an increase by 10%, CEO of the Group Amine Mazouzi ann...
Brent Crude Tumbles to Seven-Week Low on Dollar Rally
United States >> 6/27/2016 - Crude prices tumbled nearly 3 percent on Monday, with Brent hitting seven-week lows, as a rallying dollar and market uncertainty over Britain's shocking vote to exit the European Union threatened to s...
Circle Oil Provides Financial Update
United Kingdom >> 6/24/2016 - Further to the announcement of 27 May 2016, Circle Oil plc the international oil and gas exploration, development and production company, is pleased to announce that International Finance Corporation ...
DNO Reports Payment for Tawke Deliveries
Iraq >> 6/23/2016 - DNO ASA, the Norwegian oil and gas operator, reported receipt of USD 24.28 million from the Kurdistan Regional Government as a second payment towards May crude oil deliveries to the export market from...
President Warns Oil Fall Leaves Angola Short of Foreign Reserves
Angola >> 6/22/2016 - Angola is running short of foreign reserves to pay for imports because its national oil firm has not contributed to state coffers since January, President Jose Eduardo dos Santos said. Remittances fro...
Receipt of Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 6/20/2016 - Genel Energy plc announces that the Taq Taq field partners have received a payment of $10 million from the Kurdistan Regional Government ('KRG') for oil sales during May 2016. Genel's net share of the...
Sinopec Serves $5.5 Billion Arbitration Notice to Repsol
China >> 6/17/2016 - China's Sinopec and its subsidiary Addax Petroleum UK have served an arbitration notice to Talisman Energy Inc and Talisman Colombia, both owned by Spanish oil major Repsol, demanding pay back of its ...
Over USD14 Bn in FDI Over 2010-2015, Algeria
Algeria >> 6/16/2016 - Foreign direct investment (FDI) in Algeria's energy sector has reached USD14.01 billion between 2010 and 2015, that is, an annual average of USD2.3 billion, the ministry of Energy has said. ...
NOVATEK & Sberbank Sign a Strategic Cooperation Agreement
Russia >> 6/16/2016 - OAO NOVATEK (NOVATEK) and PAO Sberbank entered into a Strategic Cooperation Agreement for the period until 2021 at the 20th Saint Petersburg International Economic Forum. Leonid Mikhelson, Chairman of...
Oil Falls on U.S. Crude Build and Brexit Risk
United States >> 6/15/2016 - Oil prices fell about 2 percent in extended trading on Tuesday as data showed a surprise build in U.S. crude inventories last week, adding to the market's nervousness around Britain's vote next week o...
Malaysia's Petronas Seeks $7.2-bln Loan for RAPID Project
Malaysia >> 6/15/2016 - Malaysia's Petronas is seeking to raise $7.2 billion for its Refinery and Petrochemical Integrated Development (RAPID) project in one of the largest project financings from Asia in recent years, Thoms...
LGO Energy Provides Financing & Goudron Field Update
Trinidad and Tobago >> 6/14/2016 - LGO and its lending bank, BNP Paribas (BNPP), have reached a further agreement on the terms of the loan outstanding to LGO's wholly owned Trinidadian subsidiary, Goudron E&P Limited (GEPL), which oper...
Value of Norway's Oil & Gas Stakes down 34% Since 2014
Norway >> 6/13/2016 - The Norwegian state's direct financial interest (SDFI) in oil and gas licenses on the Norwegian continental shelf has decreased by 34 percent since 2014 as low oil prices have taken a toll, an externa...
Trinity Exploration & Production Provides Update on Formal Sale Process
Trinidad and Tobago >> 6/13/2016 - Trinity provides an update on its formal sale process (FSP) pursuant to the City Code on Takeovers and Mergers. The FSP and Strategic Review were originally announced on 8 April 2015 with the Company ...
Balance of Supply and Demand - June 2016
Austria >> 6/12/2016 - Demand for OPEC crude in 2015 remained unchanged from the previous report to stand at 29.7 mb/d, which is 0.1 mb/d less than the 2014 level. In 2016, demand for OPEC crude is projected to be 31.5 mb...
Uncertainty Impacting Developments in Brazil – May 2016
Uncertainty Impacting Developments in Brazil – May 2016 Brazil >> 6/11/2016 - Ratings agency Fitch downgraded Brazil’s long-term foreign and local currency ratings to BB from BB+, with a negative outlook, reflecting the agency’s concerns about the ongoing economic contraction, ...

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