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Russia Says No Decision Taken on Changing Oil Tax System
Russia >> 9/23/2015 - Russia has not decided whether to change taxes on oil firms in the world's top crude producer, Finance Minister Anton Siluanov said on Tuesday, with energy companies warning that higher taxes would hi...
Sirius Raises Funds for Ororo Field
Nigeria >> 9/22/2015 - Sirius Petroleum the investing company focused on oil and gas exploration and development opportunities is pleased to announce that it has raised a total of £1,035,000 (net of fees) through a Placing ...
ShaMaran Petroleum Provides Update on Atrush Block
Iraq >> 9/21/2015 - ShaMaran Petroleum Corp. announces that its wholly owned subsidiary, General Exploration Partners, Inc. (GEP), has received a Default Notice from the Operator of the Atrush Block, TAQA Atrush B.V. ("T...
Russian Finance Ministry Proposes Move to Raise Tax on Oil Extraction
Russia >> 9/19/2015 - Russia's finance ministry has proposed changing the calculation method for Mineral Extraction Tax for oil companies by including a so-called "rouble deduction" that would significantly boost revenues,...
AfDB Approves US$ 121m for Electricity Expansion in Uganda
Uganda >> 9/16/2015 - The African Development Bank (AfDB) Group Board approved on 16 September 2015 a US$ 121 million loan and grant to help Uganda’s government improve access to electricity for rural households, businesse...
Balance of Supply and Demand - September 2015
Austria >> 9/15/2015 - Demand for OPEC crude in 2015 was revised up by 0.1 mb/d from the previous report to stand at 29.3 mb/d, which is 0.4 mb/d higher than the 2014 level. In 2016, the demand for OPEC crude is projected...
Trinity Agreed a Further Extension to the Moratorium on Principal Repayments
Trinidad and Tobago >> 9/14/2015 - Trinity has agreed a further extension to the moratorium on principal repayments, relating to Trinity's outstanding debt balance of US$13.0 million with its lender, until the 25th of September 2015. T...
Oil Market Highlights - September 2015
Austria >> 9/14/2015 - Crude Oil Price Movements
The OPEC Reference Basket fell below $50/b in August to average $45.46/b, mostly attributed to sell-offs amid enduring oversupply and Chinese economic turbulenc...
KMG EP Receives a Tax Claim for the Period Between 2009 - 2012
Kazakhstan >> 9/9/2015 - JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces that the Kazakhstan tax authority has completed their desk audit of KMG EP which commenced in September 2014 for the period...
Ma'aden in Talks for $3 Bln Loan
Saudi Arabia >> 9/8/2015 - Saudi Arabian Mining Company (Maaden) announces that its subsidiary Maaden Phosphate Company (MPC) is currently discussing with local, regional and international banks the possibility of replacing its...
ORPIC to Use Debt to Finance most of $5.2 bln Plastics Plant
Oman >> 9/8/2015 - State-owned Oman Oil Refineries and Petroleum Industries Co (ORPIC) will borrow money to finance 70 percent of its $5.2 billion plastics production complex, its chief financial officer said. ...
Madagascar Oil Provides Strategic Process & Financing Update
Madagascar >> 9/7/2015 - Madagascar Oil, which has over 1.7 billion barrels of contingent resources in the Tsimiroro field, provides the following update on its strategic partnering process and financing initiatives. ...
InfraStrata Provides Update on Islandmagee-1 Well
United Kingdom >> 9/4/2015 - InfraStrata plc, the independent petroleum exploration and gas storage company, is pleased to provide an update on the programme of works on the Islandmagee gas storage project in Northern Ireland fol...
Kinetiko Completes $0.6m Capital Raising
South Africa >> 9/3/2015 - Kinetiko Energy Limited is pleased to announce that it has successfully completed a placement to sophisticated investors to raise gross proceeds of $584,400. Proceeds from the placement will be used t...
Odebrecht Group Fined over Angola Conditions
Angola >> 9/1/2015 - A Brazilian labor court convicted units of Brazil's Odebrecht Group of holding workers in conditions akin to slavery at an ethanol refinery construction project in Angola, Brazilian prosecutors said i...
Gazprom’s Financial Information Under IFRS
Russia >> 8/31/2015 - Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for t...
Africa's Squandered Commodity Boom Erodes US Trade Promise
Gabon >> 8/25/2015 - A fresh U.S. trade pact could provide relief to African economies buffeted by the commodities slump but a failure to reform during the boom years has left many countries unable to profit from tariff-f...
Iran Reports Surprise Rise in Oil Output
Iran >> 8/23/2015 - Iran has reported a surprise surge in its oil output capacity after a multiple year plunge that was prompted as a result of sanctions against investments in its key energy industries. ...
Brazil's Petrobras Agrees to Refinance 6 bln Reais Tax Bill
Brazil >> 8/14/2015 - State-controlled Petroleo Brasileiro SA agreed to refinance an outstanding 6 billion reais ($1.7 billion) tax debt with the Brazilian government, allowing the debt-laden oil producer to restructure an...
PGNiG Upstream International Secures Financing
Norway >> 8/13/2015 - PGNiG Upstream International AS, a subsidiary of PGNiG SA, executed a USD 400m credit facility agreement with eight banks (Societe Generale, BNP Paribas, ING, HSBC, Citibank, CACIB, SEB and Natixis). ...

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