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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. ...
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...
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 . ...
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. ...
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. ...
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. ...
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...
Argentina, Lead Creditors Settle 14Y Debt Battle for $4.65b
Argentina >> 3/1/2016 - Argentina has agreed to a $4.65 billion cash payment to its main holdout creditors and will present the deal to Congress this week for a vote which would end 14 years of bitter legal battles and pave ...
MEO Secures Funds for Cuba Exploration
Cuba >> 2/29/2016 - MEO Australia Limited has executed a Private Placement Agreement with London listed Leni Gas Cuba Limited to raise $1.4 million, with funds to be used to advance MEO’s exploration program on the Compa...
Pemex Defers Projects Amid Oil Rout, Downbeat on Prices
Mexico >> 2/29/2016 - Pemex would put billions of dollars worth of projects on hold, citing a financial squeeze caused by the prolonged rout in global oil prices, which it expects will intensify in the near term. ...
Mexico's Pemex Posts Wider 4th-qtr Loss at $9.8b
Mexico >> 2/29/2016 - Mexico's national oil company Pemex reported a wider quarterly loss for the fourth quarter of last year at $9.8 billion, a nearly 44 percent deeper loss compared to the year-earlier period. ...

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