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Court Orders Russia to Pay $50b for Seizing Yukos Assets
Russia >> 7/28/2014 - An international arbitration court ruled on Monday that Russia must pay $50 billion (29.44 billion) for expropriating the assets of Yukos, the former oil giant whose ex-owner Mikhail Khodorkovsky fel...
Regarding Rulings of Arbitrations in Hague
Russia >> 7/28/2014 - Rosneft takes note of the rulings in related arbitrations brought by the former majority shareholders of Yukos Oil Company against the Russian Federation pursuant to the Energy Charter Treaty. ...
Brazil's ANP Fines Petrobras over Output Measures
Brazil >> 7/28/2014 - Brazil's petroleum regulator, the ANP, fined state-run oil company Petroleo Brasileiro SA 5.55 million reais ($2.49 million) after problems were discovered with gauges used to measure oil and gas outp...
EU's Planned Sanctions Against Russia to Hit South Stream, Yamal LNG
Russia >> 7/24/2014 - The European Union's proposed sanctions against Russia, targeting sensitive technology, take aim at Gazprom's huge South Stream gas pipeline project to Europe and Novatek's Arctic Yamal liquefied natu...
Octanex Secures Project Finance for Ophir Development
Malaysia >> 7/24/2014 - Octanex has announced that limited recourse project finance has been secured for the development of the Ophir field, offshore Malaysia. Octanex is a 50% shareholder in Ophir Production Sdn Bhd ('OPSB'...
Conditional Placing and Subscription to Raise up to $20.0m
Nigeria >> 7/23/2014 - Sirius Petroleum has conditionally raised gross proceeds of up to US$20,000,000 by way of a placing and a subscription (the "Placing and Subscription"). ...
China Provides $4b to Venezuela in Exchange for Oil
Venezuela >> 7/21/2014 - China will provide Venezuela with a new $4 billion credit line under an agreement signed on Monday, with the money to be repaid by oil shipments from OPEC member Venezuela. ...
Loan Insurance for an Ultra-Deepwater FPSO Project
Brazil >> 7/18/2014 - Nippon Export and Investment Insurance (NEXI) has decided to provide the loan insurance for the FPSO Project in Carioca area of a pre-salt oil field in Brazil for Carioca MV 27 B.V. (CMV27), a company...
Africa Oilfield Logistics Limited Conditionally Raises 7.0m
Kenya >> 7/17/2014 - Africa Oilfield Logistics Ltd, the AIM listed African focussed support services and logistics company, is pleased to announce that it has conditionally raised approximately 7.0 million (approximately...
Swala Energy Announces Trading Halt Regarding Block 12B JV
Kenya >> 7/17/2014 - In accordance with ASX Listing Rule 17.1, Swala Energy Limited (Swala Energy) requests that a trading halt be implemented in respect of all Swala Energy securities quoted on the ASX, pending an announ...
British Government to Help Fund New Oil Regulator until 2022
United Kingdom >> 7/16/2014 - The British government announced another 3 million pounds ($5.14 million) a year in funding for the country's new oil regulator until 2022, after which it will be fully financed by the industry. ...
EGPC to Start Negotiations with Foreign Companies
Egypt >> 7/16/2014 - Egyptian General Petroleum Company (EGPC) is in negotiations with several international banks to receive a US$1.5 billion loan to pay for half of dues of the foreign petroleum companies operating in E...
Multi-satellite Project Funding Exceeds 1m
United Kingdom >> 7/16/2014 - Getech has now signed further clients to fund its new global multi-satellite gravity project. ...
Ugandan Tax Appeals Tribunal Delivers Ruling
Uganda >> 7/16/2014 - Tullow Oil plc announces that its subsidiaries operating in Uganda have received a ruling from the Tax Appeals Tribunal (TAT) in Uganda relating to Capital Gains Tax (CGT). ...
KRG Reject Dana Gas Statement on Payment Rights
Iraq >> 7/16/2014 - - Iraq's autonomous Kurdish region rejected a statement by UAE's Dana Gas that a London tribunal had awarded the company the right to receive some outstanding payments from the Kurdish government. ...
Seadrill Refinances 3 High Specification Ultra Deepwater Units
Norway >> 7/10/2014 - Seadrill Limited has received commitments from 17 banks for a US$1.35 billion credit facility with a 5 year term and 10 year amortization profile to refinance the credit facilities secured by the West...
Oil Market Highlights - July 14
Austria >> 7/10/2014 - Crude Oil Price Movements
The OPEC Reference Basket increased by $2.45 in June to reach $107.89/b. Nymex WTI gained $3.35 to $105.15/b and ICE Brent added $2.73 to $111.97/b. Speculato...
Balance of Supply and Demand - July 14
Austria >> 7/10/2014 - Demand for OPEC crude in 2014 is estimated at 29.7 mb/d, down 0.5 mb/d from 2013. This is unchanged from the previous report. Based on the initial forecasts for demand, non-OPEC supply and OPEC NGLs...
Letho Signs Letter of Intent with Stream Oil & Gas Ltd.
Namibia >> 7/9/2014 - Letho Resources Corp has signed a Letter of Intent ("LOI") with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to CAD $5,000,000 (the "Loan"), which loan will be supported by the iss...
Minister: Economic Reform Measures to Benefit Poor
Egypt >> 7/8/2014 - A senior member of Egypt's Cabinet said that the recent economic reforms will directly benefit the poor."Delaying the decision could have had a negative economic impact on Egypt and its citizens," sai...

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