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IEA Expects Contraction of Oil Supply Glut
United States >> 2/9/2016 - Crude oil price slumped again yesterday, but weaker dollar is holding prices above recent multi-year lows. The global oil inventories will continue to grow in most of 2016 because the decline in US pr...
KPC to Sell Loss-making Units
Kuwait >> 2/9/2016 - State-run Kuwait Petroleum Corp (KPC) plans to sell loss-making assets to cut costs as low oil prices pressure its finances, state news agency KUNA reported. ...
Saudi, Venezuela Hold 'Productive' Talks on Stabilising Oil Market
Saudi Arabia >> 2/8/2016 - Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart, state news agency SPA re...
Receipt of Payment for KRI Oil Exports from Tawke Field
Iraq >> 2/8/2016 - Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $17.99 million towards the monthly entitlement for ...
Kuwait's EQUATE in Talks to Refinance $6 bln Bridge Loan
Kuwait >> 2/7/2016 - Kuwait's EQUATE Petrochemical Co is in talks with banks to refinance a $6 billion bridge loan that it secured last year and was partly used to fund the acquisition of petrochemical company MEGlobal, s...
Receipt of Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 2/5/2016 - Genel Energy plc announced that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government (‘KRG’) for oil exported through the Kurdistan Region o...
Korea Eximbank to Provide $370m Project Financing for Liwa Plastics
Oman >> 2/3/2016 - The export-import Bank of Korea (Korea Eximbank) will provide $370 million (447.33 billion won) to finance the Liwa Plastics project in Sohar, construction of which has been awarded to Korea’s GS Engi...
The Status of Oil Price
United States >> 2/3/2016 - U.S. crude oil prices slid as much as 7 percent, pressured by weak economic data from China, a U.S. forecast for mild weather and growing doubts that OPEC and non-OPEC producers would come together to...
Lundin Petroleum Secures Reserve-based Bank Financing
Norway >> 2/2/2016 - Lundin Petroleum AB has entered into a committed seven year senior secured revolving credit facility of up to USD 5.0 billion, with an initial committed amount of USD 4.3 billion. ...
Estimate for 2015 Balance of Supply and Demand - January 2016
Estimate for 2015 Balance of Supply and Demand - January 2016 Austria >> 2/2/2016 - Demand for OPEC crude in 2015 is estimated at 29.9 mb/d, representing an increase of 0.2 mb/d higher than the 2014 level. Within the quarters, the first quarter fell by 0.7 mb/d, while the second quar...
IMF to Lend to African Oil Producers; No Requests Yet
Angola >> 2/2/2016 - The International Monetary Fund said it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding reques...
KRG to Pay Oil Companies According to 2016 Contracts
Iraq >> 2/1/2016 - Iraq's Kurdistan region said on Monday it would pay international oil companies according to their contractual entitlements in 2016 in a bid to restore confidence and raise production. ...
Gazprom Cancels Gas Discount for Turkey
Russia >> 1/29/2016 - Russia's Gazprom has cancelled a discount in gas prices for Turkish customers, industry officials said, in the latest salvo in a diplomatic and trade row after Turkey shot down a Russian war plane two...
Petrobras Slashes Oil Reserves to Lowest Level in 14 Years
Brazil >> 1/29/2016 - Brazil's state-controlled oil producer Petrobras slashed its oil and natural gas reserves 20 percent, hit by a plunge in energy prices, a heavy debt load, high costs and a corruption scandal. ...
Petrobras to Cut Staff, Aims to Save $442m A Year
Brazil >> 1/28/2016 - Petroleo Brasileiro SA will cut staff and restructure management to adapt to dwindling oil prices and prioritize high-yield projects, the state-controlled oil producer said in a statement. ...
Asia Pacific Oil Demand in January 2016
Asia Pacific Oil Demand in January 2016 Japan >> 1/28/2016 - Japanese oil demand decreased sharply in November by 0.23 mb/d, a decrease of more than 6% y-o-y, with all main petroleum product categories declining, particularly residual fuel oil, gasoline, naphth...
IMF & World Bank Discussing Possible Aid to Oil Exporter Azerbaijan
Azerbaijan >> 1/27/2016 - The International Monetary Fund and World Bank are discussing possible financing assistance for Azerbaijan to help it cope with mounting currency pressures and other fallout from a steep drop in oil p...
World Bank Lowers 2016 Oil Price Forecast
United States >> 1/26/2016 - The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. ...
Aramco Expects to See Oil Prices Pick Up by End-Year
Saint Lucia >> 1/26/2016 - National oil giant Saudi Aramco expects to see oil prices pick up by the end of this year, the company's chief executive Amin Nasser said. ...
Libya Lost $68 Bln in Oil Revenue since 2013
Libya >> 1/25/2016 - The drop in Libya's oil production in recent years as a result of unrest has resulted in $68 billion in lost revenue, National Oil Corp Chairman Mustafa Sanallah said. ...

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