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Nigeria's State Oil Company withheld $16b in 2014
Nigeria >> 3/14/2016 - Nigeria's state oil company withheld 3.2 trillion naira ($16 billion) in revenues from the federal government in 2014, the auditor-general said, the same year that the then central bank governor was s...
Vaalco Receives $19 Million Payment from Sonangol
Angola >> 3/14/2016 - VAALCO Energy, Inc. received cash funds totaling $19 million from its partner in Angola, Sonangol P&P, which represents the full amount due for its share of past costs outstanding at December 31, 2015...
Orpic Finalises Financing Deal for $3.8b Liwa Plastic Project
Oman >> 3/12/2016 - State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) said that the company has closed its Liwa Plastic Industries Complex’s $3.8 billion project financing facility for its $6.5 bil...
Glencore Taps into Iraqi Kurdistan with $300 million Oil Deal
Iraq >> 3/12/2016 - Glencore has paid Iraqi Kurdistan $300 million as an advance for oil as it seeks to compete with trading houses Vitol and Petraco for profitable business despite disruptions and political instability,...
Iraq's Kurdistan Gets $200 million from Turkey after Oil Pipeline Halt
Iraq >> 3/11/2016 - Iraq's Kurdistan has received $200 million from Turkey to help Kurdish finances, which have been hit by a recent oil pipeline export stoppage, two industry sources told Reuters. ...
Statoil Cancels Plans for Business Centre in Europe
Norway >> 3/11/2016 - Statoil has decided not to proceed with the evaluations of a potential business centre in Europe. The decision was presented at a meeting with employee representatives on Friday 11 March. At the meeti...
Argentina to Subsidize Oil Exports to Compensate for Low Prices
Argentina >> 3/11/2016 - Exporters of heavy crude from Argentina will receive a $7.50 per barrel subsidy from the government as long as international prices remain under $47.50 per barrel, the energy ministry said. ...
Lansdowne Oil & Gas Extended Term of Senior Scured Loan Note
Ireland >> 3/10/2016 - Lansdowne Oil & Gas, the independent oil and gas company focussed on offshore Ireland, is pleased to advise that it has extended the term of its senior secured Loan Note by 6 months. The Loan Note, is...
Gazprombank Increased Capital of its Subsidiary Bank in Luxembourg
Russia >> 3/10/2016 - Following the strategy of developing its subsidiary bank in the Grand Duchy of Luxembourg Bank GPB (JSC) increased share capital of Bank GPB International S.A. by 50 million euro on March 2, 2016. ...
Kuwaiti Oil Minister Sees Crude at $40-$60 over Next Three Years
Kuwait >> 3/9/2016 - Kuwait's acting oil minister said he expected oil prices of $40 to $60 a barrel over the next three years. "I think we will see an indication of an increase in demand by end of this year and probably ...
GKP Confirms Shaikan Payment
Iraq >> 3/8/2016 - Gulf Keystone Petroleum confirms that the gross payment of US$15 million was received from the Kurdistan Regional Government on 4 March. ...
Over $6b Oil Revenues Slated for National Development Fund
Iran >> 3/8/2016 - Next year’s draft budget bill has allocated a 20-percent share from export of oil and gas condensates or 6.54 billion dollars for the National Development Fund. ...
Disbursement of the Financing Agreement with ICBC Leasing
Brazil >> 3/8/2016 - Petrobras informs that the amount of US$ 1 billion, associated with the financial leasing of P-52 platform, signed with ICBC Leasing (Industrial and Commercial Bank of China Leasing) was disbursed . ...
President Provides Update on its Paraguay and Argentina Assets
Paraguay >> 3/7/2016 - President is pleased to provide a Corporate and Operational Update on its Paraguay and Argentina Assets. ...
Oil Prices Expected to Recover to Around $70 by 2020
Russia >> 3/7/2016 - Oil prices are expected to rise gradually over the next five years but will remain well below the pre-crash level, according to a survey of professionals who follow the oil industry. ...
Colombia's Ecopetrol Reports $1.26b Loss in 2015
Colombia >> 3/6/2016 - Colombia's state-controlled oil producer Ecopetrol reported a loss of $1.26 billion during 2015, due to the global plunge in oil prices, rebel attacks and new accounting standards. ...
Iraq to Pay $2bn in Arrears to Foreign Companies
Iraq >> 3/5/2016 - Iraq will pay foreign oil companies about $2 billion in remaining arrears for 2015 this April and expects to reach an agreement over contracts by half-way through the year, the deputy oil minister sai...
Bank of China to Provide Gazprom with EUR 2 billion Loan
Russia >> 3/3/2016 - Gazprom and Bank of China Limited, London Branch entered in Shanghai into a five-year EUR 2 billion loan facility agreement. ...
Kvaerner Reaches Settlement Agreement with Amec Foster Wheeler
Norway >> 3/2/2016 - Kvaerner North American Construction Inc, a subsidiary of Kvaerner, and Amec Foster Wheeler North America Corp. have reached a settlement of all claims related to the Longview Power Project. The final...
Oil at Two Month High on China Demand Hopes
China >> 3/1/2016 - Oil prices rose on Tuesday 1st March 2016 after China's surprise monetary policy easing stoked expectations for higher oil demand from the world's largest commodities consumer and signs emerged that a...

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