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Azeri SOCAR to Reduce Spending in 2016 Due to Low Oil Prices
Azerbaijan >> 12/15/2015 - Azeri state energy company SOCAR plans to cut spending next year due to lower oil prices and introduce changes in the way its overseas offices operate, it said. ...
Genel Receives Payment from Taq Taq Field
Iraq >> 12/14/2015 - Genel Energy has announced that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Tur...
First $20m Drawdown from $60m IFC facility for Tanzania Project
Tanzania >> 12/14/2015 - Orca Exploration Group Inc. (Orca) announces that its wholly owned subsidiary, Pan African Energy Tanzania Limited (PAET) has made an initial drawdown of US$20 million from the available US$60 million...
Balance of Supply and Demand - December 2015
Austria >> 12/13/2015 - Demand for OPEC crude in 2015 was revised down by 0.2 mb/d from the previous month’s report to stand at 29.4 mb/d, which is 0.4 mb/d higher than the 2014 level. In 2016, demand for OPEC crude is pro...
Nigeria to Boost 2016 Budget Even as Crude Revenue Declines
Nigeria >> 12/8/2015 - Nigeria’s government said it will boost spending by a fifth in next year’s budget without overstepping borrowing targets, even as oil revenue in Africa’s largest economy is set to fall. ...
KMG EP Approves 2016 Budget & 2016-2020 Business Plan
Kazakhstan >> 12/3/2015 - JSC KazMunaiGas Exploration Production (KMG EP) announces the approval by the Board of Directors (“the Board”) of the Company’s 2016 budget and 2016-2020 business plan which assume the average annual ...
KMG EP Approves 2016 Budget & 2016-2020 Business Plan
Kazakhstan >> 12/3/2015 - JSC KazMunaiGas Exploration Production (KMG EP) announces the approval by the Board of Directors (“the Board”) of the Company’s 2016 budget and 2016-2020 business plan which assume the average annual ...
NIS to Pay Falcon Oil & Gas $3.7 Million Cash Settlement
Hungary >> 12/3/2015 - Falcon Oil & Gas Ltd. (Falcon) has signed a termination agreement with Naftna Industrija Srbije jsc (NIS) terminating the Oilfield Services Contract entered into between the parties in January 2013. N...
DNO Confirms Kurdistan Payment
Iraq >> 12/3/2015 - DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million to be shared pro-rata with its partner Genel Energy plc as a partial payment towards oil exported from the Tawke ...
Forecast for 2016 Balance of Supply and Demand - November 2015
Forecast for 2016 Balance of Supply and Demand - November 2015 Austria >> 12/2/2015 - Demand for OPEC crude in 2016 remained unchanged from the previous month. All the quarters also remained unchanged from the previous report. Demand for OPEC crude next year is projected to increase by...
Gulf Keystone Provides Shaikan Payment Update
Iraq >> 12/2/2015 - Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, is pleased to confirm that, further to the recent statement by the Kurdistan Regional Government (...
Anadarko Ordered to Pay $159.5m Fine for 2010 Gulf Spill
United States >> 12/1/2015 - A federal judge ordered Anadarko Petroleum Corp to pay a $159.5 million civil fine reflecting its stake in the Gulf of Mexico well whose 2010 blowout caused the largest U.S. offshore oil spill. ...
Venezuela to Push for 5% Output Cut at OPEC Meeting
Venezuela >> 12/1/2015 - Venezuelan President Nicolas Maduro reiterated his hopes for OPEC action ahead of the group's meeting, adding the South American country was pushing for a 5 percent output cut to shore up prices. ...
Mexico Reveals Bid Minimums for December's Onshore Oil Auction
Mexico >> 11/30/2015 - Mexico's government will require winning oil companies to bid at least 1 percent of pre-tax profits in next month's onshore oil auction, the country's Finance Ministry said. ...
Total Launches Synthetic Bond Financing to Raise $1.2b
France >> 11/25/2015 - Total is raising approximately $1.2 billion of new debt financing through a structure combining the issue of non-dilutive cash-settled convertible bonds with the purchase of cash-settled call options ...
Gazprom’s Import Substitution Efforts Boost Cutting-Edge Technologies in Russia
Russia >> 11/25/2015 - The Gazprom Board of Directors took notice of the information about Gazprom Group's procurement activity in the new business environment as well as about the import restricting measures. ...
Suspension of Seizure of Net Revenue from Sales of Oil and OGX Income
Brazil >> 11/23/2015 - Ogpar & OGX inform their shareholders and the market in general that, due to appeal filed the Companies, the decision was obtained, resu lting in the suspension of the seizure effects of (i) the net r...
Russia's Yamal LNG Places $2.3 Bln Bonds as Collateral for State Funds
Russia >> 11/20/2015 - Russia's Yamal LNG project, which is controlled by No. 2 gas producer Novatek, said on Friday it will place bonds worth $2.3 billion with the finance ministry on Monday as collateral for funds it has ...
Forecast for 2015 Balance of Supply and Demand - November 2015
Forecast for 2015 Balance of Supply and Demand - November 2015 Austria >> 11/18/2015 - Demand for OPEC crude in 2015 remained unchanged from the previous month at 29.6 mb/d, representing an increase of 0.6 mb/d from the 2014 level. All the quarters remained broadly unchanged versus the ...
Balance of Supply and Demand - November 2015
Austria >> 11/16/2015 - Demand for OPEC crude in 2015 remained unchanged from the previous report to stand at 29.6 mb/d, which is 0.6 mb/d higher than last year’s level. For 2016, demand for OPEC crude also remained unchan...

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