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Petrobras Posts Record Loss as Oil Price Slump Forces Writedowns
Brazil >> 3/21/2016 - Brazil's state-controlled oil company Petrobras posted its biggest-ever quarterly loss after booking a large writedown for oil fields and other assets as oil prices slumped and refinery projects falte...
Oil Prices Extend Recovery
Algeria >> 3/19/2016 - World oil prices rallied for a third day running Friday, with traders brushing aside news of a rocket attack by jihadists on a gas plant in OPEC energy producer Algeria. ...
WPX Energy Secures $1.2 Billion Credit Facility
United States >> 3/18/2016 - WPX Energy has amended and restated its revolving credit facility. WPX received total commitments of $1.2 billion on a senior secured facility, with an initial borrowing base of $1.025 billion. The re...
Sirius Petroleum Raised Gross Proceeds
Nigeria >> 3/17/2016 - Sirius Petroleum the investing company focused on oil and gas exploration and development opportunities in Nigeria, announces that firm commitments have been received in respect of subscriptions for, ...
LGO Enery Raised Euro1.36 million Fund
Trinidad and Tobago >> 3/16/2016 - LGO has raised £1.06 million before expenses (£0.98 million after expenses), by way of a Company arranged placing of 424,209,334 new ordinary shares of 0.05p each ("the Initial Placing Shares") at a p...
Nigeria's State Oil Company Denies it Failed to Remit $16b in 2014
Nigeria >> 3/16/2016 - Nigeria's state oil company challenged official allegations that it had failed to remit 3.2 trillion naira ($16 billion) in revenues to the government in 2014 and said it only owed $1.64 billion. ...
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...
Kuwait Seeking to Privatise Some KPC Facilities
Kuwait >> 3/14/2016 - Kuwaiti Finance Minister Anas al-Saleh told a press conference that the country would seek to privatise some state-owned projects, including airports, ports and some facilities of the Kuwait Petroleum...
Balance of Supply and Demand - March 2016
Austria >> 3/14/2016 - Demand for OPEC crude in 2015 was revised down by 0.1 mb/d from the previous report to stand at 29.7 mb/d, which is in line with 2014 level. In 2016, the demand for OPEC crude is projected at 31.5 m...
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,...
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...
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. ...
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. ...
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...
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 ...
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 . ...

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