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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...
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...
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. ...
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...
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. ...
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. ...
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. ...
PDVSA Average Production Cost is $13 per Barrel
Venezuela >> 1/22/2016 - People's Minister of Petroleum and Mining and President of Petroleos de Venezuela, S.A. (PDVSA) Eulogio Del Pino, said that the average cost of oil production in Venezuela is $13 per barrel. ...
The Time Comes to Take the Reins of the Oil Market
Venezuela >> 1/20/2016 - At the installation ceremony of the National Council on Productive Economy, held at the Teresa Carreno Theater in Caracas, President of the Bolivarian Republic of Venezuela Nicolas Maduro, called on ...
Husky Energy Updates 2016 Guidance
Canada >> 1/19/2016 - Husky Energy (HSE) is taking additional steps to improve its resilience through the extended low commodity price environment. ...
Algeria Energy Earnings Drop 41 Pct in 2015
Algeria >> 1/19/2016 - Algeria's energy earnings dropped 40.8 percent in 2015 from the previous year, causing a trade deficit of $13.71 billion after a $4.306 billion surplus in 2014, the Finance Ministry said. ...

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