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India Economy - May 2016
India Economy - May 2016 India >> 5/19/2016 - The improvement in India's February industrial growth was largely limited to solid growth in electricity output that accelerated to 9.6% y-o-y, the highest since September 2015. However, the remaining...
ITFC Finances Petroleum Products Supply in Djibouti
Djibouti >> 5/19/2016 - The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed two Murabaha Agreements with the total amount of USD 55 million. The first agre...
US Slaps China Steel Imports with Fivefold Tax Increase
China >> 5/18/2016 - The US has raised its import duties on Chinese steel makers by more than fivefold after accusing them of selling their products below market prices. ...
Nogaholding Sets up $570mn Finance Facility
Bahrain >> 5/17/2016 - Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA) hosted a dinner last evening to commemorate the successful signing of the US$ 570 million Mu...
McDermott Announces Completion of Amendment to Extend Senior Secured Credit Agreement
United States >> 5/16/2016 - McDermott International, Inc. (MDR) has satisfied all conditions to the amendment to the Company’s Senior Secured Credit Agreement (“Amendment No. 3”) which in part extends the maturity date of the le...
Pemex Pays 92 billion Pesos to Suppliers
Mexico >> 5/16/2016 - ?As part of the of the compromise to meet its obligations to suppliers and contractors, Petroleos Mexicanos, has paid approximately 92 billion pesos and counts with the sufficient solvency to cover th...
Forecast for 2016 Balance of Supply and Demand - May 2016
Forecast for 2016 Balance of Supply and Demand - May 2016 Austria >> 5/15/2016 - Demand for OPEC crude for 2016 remained unchanged from the previous report and is projected to increase by 1.8 mb/d, to average 31.5 mb/d. Within the quarters, both the 2Q16 and 4Q16 remained unchange...
Balance of Supply and Demand - May 2016
Austria >> 5/13/2016 - 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 level a year earlier. In 2016, the demand for OPEC crude is projected...
Saudi Aramco Finalises IPO Options
Saudi Arabia >> 5/13/2016 - Saudi Arabia’s state-owned oil giant Aramco is finalising proposals for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centrepiece of t...
Range Resources Signs Agreement to Reduce Royalty Rates in Trinidad
Trinidad and Tobago >> 5/9/2016 - Range has signed an agreement with the Petroleum Company of Trinidad and Tobago Limited (Petrotrin) to reduce the overriding royalty rates (ORRs) on the Company's producing Morne Diablo, Beach Marcell...
Petrobras Signs Credit Facility with China Exim Bank
Brazil >> 5/9/2016 - Petrobras has signed with the China Exim Bank a term sheet containing the main terms and conditions for a financing contract of US$1 billion and that the final agreement is already under negotiation. ...
Petrofac Reaches Commercial Regarding the Laggan-Tormore Gas Plant
United Kingdom >> 5/6/2016 - Petrofac has reached final commercial settlement with its client in respect of the Laggan-Tormore gas plant in the Shetland Isles. As part of the agreement, our client has informed us that there will ...
Halliburton to Redeem $2.5 Billion in Senior Notes
United States >> 5/6/2016 - Halliburton Company announced that, in connection with the previously announced termination of the merger agreement between Halliburton and Baker Hughes Incorporated, it will redeem the entire outstan...
Estimate for 2015 Balance of Supply and Demand - April 2016
Estimate for 2015 Balance of Supply and Demand - April 2016 Austria >> 5/5/2016 - Demand for OPEC crude for 2015 remained unchanged from the previous month to stand at 29.7 mb/d, representing a decline of 0.1 mb/d from the 2014 level. ...
£3.25million Fundraising, Loan Restructuring & TVR
Trinidad and Tobago >> 5/5/2016 - LGO has raised £3.25 million, before expenses, by way of a Company arranged placing of 1,625,000,000 new ordinary shares of 0.05p each ("the Placing Shares") at a placing price of 0.2p per share ("Pla...
Saudi Arabia's Bahri Signs 700 Mln Riyal Loan for Oil Tankers Purchase
Saudi Arabia >> 5/5/2016 - The National Shipping Company of Saudi Arabia has signed a 700 million riyal ($186.7 million) loan to partly-finance the purchase of three very large crude carriers (VLCCs), the company known as Bahri...
Shell Makes Further Spending Cuts after BG Deal
Netherlands/Holland >> 5/4/2016 - Royal Dutch Shell said it plans to reduce 2016 spending by around 10 percent to $30 billion due to low oil prices, after reporting better than expected first quarter results. ...
Trinity Agreed Further Extension
Trinidad and Tobago >> 5/3/2016 - Trinity, an independent E&P company focused on Trinidad and Tobago, announces that the Company has agreed a further extension to the moratorium on principal repayments, relating to Trinity's outstandi...
Ras Markaz Project to Seek Global Funds
Oman >> 4/30/2016 - The construction of the first phase of Ras Markaz Oil Storage Terminal which involves the project’s infrastructure will cost anything between $300 to 400 million. This was stated by Dr Mohammed bin Ha...
Tullow Cuts Deeper as Banks Agree to Amend Loan Terms
Ghana >> 4/28/2016 - Oil and gas producer Tullow Oil has reduced its annual capital expenditure budget by another $100 million to $1 billion and may cut spending further as it adjusts its balance sheet to weak oil prices....

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