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PNG to Retain Oil Search Stake to Pay off A$1.68b Bond
Papua-New Guinea >> 2/6/2014 - Papua New Guinea has decided to raise A$1.68 billion ($1.48 billion) to pay off a bond it issued to Abu Dhabi in 2009 instead of giving up a strategic stake in oil and gas producer Oil Search, a sourc...
OER Announces Agreement for $50m Private Placement
Nigeria >> 1/28/2014 - Oando Energy Resources Inc, a company focused on oil and gas exploration and production in Nigeria , announced that it intends to complete an arms length non-brokered private placement (the "Offering"...
RSM Settlement and US$16.3m Received
Cameroon >> 1/24/2014 - Victoria Oil & Gas Plc announces that the Company and its operating subsidiary, Gaz du Cameroun SA ("GDC") have signed a Settlement Agreement with RSM Production Corporation ("RSM") in relation to the...
Iraq Needs KRG Oil Income to Avert Budget Collapse
Iraq >> 1/19/2014 - Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury - or loses its share of state spending, a senior lawma...
Eni is Not Involved in Illegal Conduct in Algeria
Algeria >> 1/18/2014 - Italian energy company Eni said there was no evidence to suggest it was involved in illegal conduct while working in the Algerian energy sector. ...
Balance of Supply and Demand - Jan 14
Austria >> 1/16/2014 - The demand for OPEC crude in 2013 is estimated at 29.9 mb/d in 2013, representing a decrease of 0.5 mb/d from a year earlier and unchanged from the previous report. In 2014, required OPEC crude is f...
Iraq Draft Budget Intensifies KRG Oil Export Row
Iraq >> 1/15/2014 - Iraqi Kurdish ministers walked out of a cabinet session in protest at the country's draft 2014 budget, further complicating a feud over the autonomous region's plans to export crude via a new pipeline...
Sound Oil Provides Italian Work Program
Italy >> 1/14/2014 - Sound Oil, the European / Mediterranean focused upstream oil and gas company, is pleased to confirm its 24 month Italian work programme. ...
Oil Market Highlights - Jan 14
Austria >> 1/14/2014 - Crude Oil Price Movements
The OPEC Reference Basket rebounded by $2.70 in December to settle at $107.67/b. In annual terms, the Basket price averaged around $106/b in 2013, a decline of a...
RSM Failed to Pay Two Cash Calls Issued by GDC
Cameroon >> 1/13/2014 - The Company announces that RSM Production Corporation ("RSM") has failed to pay two cash calls which were issued by Company subsidiary Gaz du Cameroun ("GDC") on 23 December 2013 (the "2013 Cash Calls...
Iran Oil Projects Finance Doubles
Iran >> 1/12/2014 - A deputy petroleum minister has said that budget allocation to petroleum industry projects has doubled in one month. ...
Iran Denies Oil Barter Deal with Russia
Iran >> 1/11/2014 - Iran’s Petroleum Ministry denied any oil-for-goods contract between the Islamic Republic and Russia. ...
Baker Says Iraq Suspension Hit Fourth-Quarter Profit
Iraq >> 1/10/2014 - Baker Hughes Inc, the world's third-largest oilfield services company, estimated fourth-quarter profit well below Wall Street expectations, largely due to the suspension of its operations in Iraq foll...
Brent Holds Steady $107 on Worries Over Libyan Supplies
Libya >> 1/8/2014 - Brent crude held its ground above $107 per barrel on Wednesday, supported by new worries over Libyan supplies and expectations of another drop in U.S. crude inventories. Although Libya may boost produ...
Victoria O&G Announces Details of Commercial Developments
Cameroon >> 1/8/2014 - Victoria Oil & Gas Plc, the emerging African energy utility company, announces the signing of key customer agreements that places Cameroon operating subsidiary, Gaz du Cameroun (GDC), in a strong posi...
Libya Budget Crisis Looms as Oil Strikes Wipe Out Finances
Libya >> 1/4/2014 - As strikes at Libyan oil ports run into a sixth month, reducing government income to a trickle, a budget crisis could be just around the corner for a country wearily accustomed to chaos since the popu...
OGX to Take Stake in Bankrupt Sister Company
Brazil >> 12/26/2013 - OGX, the Brazilian oil exploration and production company, announces that it has reached agreement with a majority of its bondholders on the terms of a financial restructuring that provides a path for...
Iran to Set Up Oil Museums
Iran >> 12/24/2013 - Petroleum Ministry public relations manager Akbar Nematollahi said that three museums of petroleum industry have been agreed to be set up. ...
Dana Gas Receives $53m from Egypt
Egypt >> 12/24/2013 - Dana Gas, the Middle East's leading regional private sector natural gas Company, announced that it has received from the Egyptian Government authorities the payment of AED 194 million (US$ 53 million)...
Egypt to Complete $1.5 bln Payment to Oil Firms
Egypt >> 12/23/2013 - Egypt will complete payment this week of $1.5 billion of the $6.3 billion it says it owes oil firms, a state executive said, in line with a plan aimed at restoring confidence in an economy hit by near...

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