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Oil Price Reaches its Lowest Level since Twelve Years
Oil Price Reaches its Lowest Level since Twelve Years Austria >> 1/19/2016 - The price of OPEC basket of thirteen crudes stood at 23.58 dollars a barrel on 18 January 2015. This is the first time since April 2004 that the Brent crude price has fallen below $30 a barrel. Oil pr...
Balance of Supply and Demand - January 2016
Austria >> 1/18/2016 - Demand for OPEC crude in 2015 is estimated at 29.9 mb/d, which is 0.2 mb/d higher than the 2014 level. In 2016, demand for OPEC crude is projected at 31.6 mb/d, which is around 1.7 mb/d higher than ...
JBIC, Banks to Loan $3.3B ADNOC
United Arab Emirates >> 1/18/2016 - 1 - The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on January 17 a facility agreement amounting up to USD2.1 billion (JBIC portion) with Abu Dhabi National...
Zarif Says Sanctions on Iran Will Be Lifted on Next Saturday
Iran >> 1/16/2016 - International sanctions on Iran will be lifted on Saturday when the International Atomic Energy Agency (IAEA) issues its final report on Tehran's disputed nuclear programme, Foreign Minister Mohammad ...
BHP Takes $7.2 Billion Hit on US Shale Assets
United States >> 1/15/2016 - BHP Billiton expects to recognise an impairment charge of approximately US$4.9 billion post-tax (or approximately US$7.2 billion pre-tax) against the carrying value of its Onshore US assets. This char...
ERHC Energy Inc. Reverse Stock Split Becomes Effective
United States >> 1/15/2016 - ERHC Energy Inc., a publicly traded American company with oil and gas assets in Sub-Saharan Africa, announced that a 100-for-one reverse stock split approved by shareholders has become effective. As i...
Azonto Petroleum Provides Company Update
Ivory Coast (Cote D'Ivoire) >> 1/14/2016 - Azonto Petroleum has worked over the past few months to tidy up legacy issues relating to the disposal of the company's oil and gas activities in West Africa. Following the disposal, a number of corpo...
Ecuador to Pay $980 million to Occidental for Asset Seizure
Ecuador >> 1/13/2016 - Ecuador has reached a deal to pay Occidental Petroleum Corp roughly $980 million by April to compensate the company for seizing its oil field in the Andean country, the attorney general said on Tuesda...
Domestic Oil Price in Argentina at $67.50 per Barrel
Argentina >> 1/12/2016 - The Board of Andes is pleased to announce that, Juan Aranguren, the Argentine Minister of Energy, informed oil producing companies that the government has reset the local price of crude oil at US$67.5...
Algeria Loses $2bn a Year to Fuel Smuggling
Algeria >> 1/9/2016 - Algerian Cabinet Director Ahmed Ouyahia said that raising fuel prices may contribute to reducing fuel smuggling to Morocco and Tunisia, which costs his country nearly $2 billion annually. ...
Oil Down 10 Pct after 5-Day Drop
United States >> 1/8/2016 - Oil fell for a fifth straight day, losing 10 percent on the week, and Goldman Sachs said more losses were needed to force producers to cut supplies adequately to balance the glut and bleak demand outl...
Forecast for 2016 Balance of Supply and Demand - December 2015
Forecast for 2016 Balance of Supply and Demand - December 2015 Austria >> 1/8/2016 - Demand for OPEC crude in 2016 remained unchanged from the previous month. For 1Q16, demand for OPEC crude was revised down by 0.1 mb/d, while 3Q16 was revised up by 0.1 mb/d. The second and fourth qua...
African Petroleum Shares De-Listed from the NSX
United Kingdom >> 1/5/2016 - African Petroleum, an independent oil and gas exploration company operating ten licences in five countries offshore West Africa, advises that further to its announcement on 22 December 2015 the Compan...
Genel Receives Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 1/5/2016 - Genel Energy plc (Genel) is pleased to announce that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government (KRG) for oil exported through the K...
Oil Prices Jump Over 2% on Saudi Arabia, Iran Tensions
Saudi Arabia >> 1/4/2016 - Oil prices jumped over 2 percent in the first trading hours of 2016 as relations between Middle Eastern rivals Saudi Arabia and Iran deteriorated following Riyadh's execution of a prominent Shi'ite Mu...
2015 Exit Production Rate Exceeds 12.0 BCFPY Target
China >> 1/4/2016 - Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of CBM gas in China, is pleased to announce that it has exceeded its 2015 year end exit r...
Saudi Arabia 2016 Budget Assumes $45 Average Crude Price
Saudi Arabia >> 1/1/2016 - Saudi Arabia Disclosed its 2016 budget and it shows just how much the global crude oil glut is affecting the finances of the OPEC kingpin. The new budget calls for $224 billion in spending on $137 bil...
Angolan Fuel Prices Increase as Government Cuts Subsidy
Angola >> 1/1/2016 - Angola's Ministry of Finance said in a declaration fuel prices were increased to ease the burden of subsidies, Angolan news agency Angop reported. ...
Forecast for 2015 Balance of Supply and Demand - December 2015
Forecast for 2015 Balance of Supply and Demand - December 2015 Austria >> 12/29/2015 - Demand for OPEC crude in 2015 was revised down by 0.2 mb/d from the previous month’s report to stand at 29.4 mb/d. This represents an increase of 0.4 mb/d over the previous year. The last two quarters...
Gazprom Approves Investment Program & Budget and Cost Reduction Program for 2016
Russia >> 12/28/2015 - The Gazprom Board of Directors took notice of the information about the Company's preliminary operating results for 2015, projected Investment Program, Budget (Financial Plan) and Cost Optimization (R...

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