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Balance of Supply and Demand - June 2016
Austria >> 6/12/2016 - Demand for OPEC crude in 2015 remained unchanged from the previous report to stand at 29.7 mb/d, which is 0.1 mb/d less than the 2014 level. In 2016, demand for OPEC crude is projected to be 31.5 mb...
Uncertainty Impacting Developments in Brazil – May 2016
Uncertainty Impacting Developments in Brazil – May 2016 Brazil >> 6/11/2016 - Ratings agency Fitch downgraded Brazil’s long-term foreign and local currency ratings to BB from BB+, with a negative outlook, reflecting the agency’s concerns about the ongoing economic contraction, ...
Ascent Announces Share Placing to Raise £500,000
United Kingdom >> 6/9/2016 - Ascent Resources plc has raised £500,000 (net to the Company) via the placing of 83,333,333 new ordinary shares of 0.2p each in the Company at a price of 0.6 p per Placing Share. ...
New President Committed on Enhancing Petropar
Paraguay >> 6/9/2016 - Lic. Eddie Jara Rojas, who took over as President of Petropar on Tuesday 31 May, announced its firm commitment to take measures to strengthen the company financially and commercial. The policy will be...
MEM Presented Draft Budget 2017
Guatemala >> 6/9/2016 - Under the Open Budget promoted by the President of the Republic, Morales Jimy program; coordinated by the Ministry of Public Finance and Planning General Secretariat of the Presidency (SEGEPLAN), the ...
Sonangol Denies Report about $50 Billion Hole
Angola >> 6/7/2016 - Angolan state-owned oil company Sonangol said a report about a $50 billion shortfall in its accounts is “absolutely false.” ...
Saudi Arabia to Boost Non-oil Revenue to $141B by 2020
Saudi Arabia to Boost Non-oil Revenue to $141B by 2020 Saudi Arabia >> 6/7/2016 - Saudi Arabia plans to more than triple the government’s non-oil revenues and clamp down on public-sector salaries over the next five years, ministers said. ...
Oando Secures N94.6b Facility as Part of Its Strategic Restructuring Plans
Nigeria >> 6/6/2016 - Oando PLC, Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, announces conclusion of a N94.6 Billion facility provided by ten leading financial ins...
Emerging and Developing Economies – May 2016
Emerging and Developing Economies – May 2016 Brazil >> 6/5/2016 - In Brazil, the reading of April’s consumer confidence index summarizes the negative sentiment triggered by the country’s economic and political hurdles. The index registered its lowest reading ever at...
Petroleum Development Oman to Borrow $3.4 billion
Oman >> 6/5/2016 - Majority state-owned Petroleum Development Oman (PDO) has confirmed that it is in talks to borrow $3.4 billion from an international finance house. “Our company is in the process of raising a loan to ...
Hydrocarbons Contribute to the Development of the Caribbean
Venezuela >> 6/4/2016 - The President of the Bolivarian Republic of Venezuela, Nicolas Maduro, is in Havana, Cuba, where the Seventh Summit of Heads of State of the Association of Caribbean States (ACS) is being held, accomp...
Execution of Loan Agreement for Central Java Coal-fired IPP Project in Indonesia
Indonesia >> 6/3/2016 - ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that PT. BHIMASENA POWER INDONESIA (headquartered in Jakarta, the Republ...
Coretrax Wellbore Products Save Operators £10million
United Kingdom >> 6/2/2016 - Coretrax, leading engineered servicing company for wellbore clean and abandonment, has secured cost savings of nearly £10 million in rig time for UK operators. ...
Saudis Pledge not to Shock Oil Market as OPEC Debates Policy
Saudi Arabia >> 6/2/2016 - Saudi Arabia promised not to flood the oil market with extra barrels as OPEC entered a heated debate about production policy, with Iran insisting on the right to raise output steeply. ...
BP Agrees to Pay $175m to Settle Claims with Shareholders
Mexico >> 6/2/2016 - BP Plc agreed to pay $175 million to shareholders who brought a class-action lawsuit that accused the oil company of misleading them by understating the severity of the 2010 oil spill in the Gulf of M...
Gulf Keystone Receives Further Payment for Shaikan Crude
Iraq >> 6/2/2016 - Gulf Keystone confirms that a further gross payment of $7.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in April 2016, bringing the total pay...
PetroMaroc to Conduct Cdn $390,000 Debenture Financing
United Kingdom >> 6/1/2016 - PetroMaroc Corporation plc (PetroMaroc) intends to complete a secured, non-convertible debenture financing (the “Financing“) of Cdn $390,000 (the “2016 Debentures“), the proceeds of which will be used...
Venezuela and Nigeria Exchange Views Ahead of the OPEC Meeting
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, held a bilateral meeting with Minister of State for Petroleum resources of Nigeria, Emmanuel Ibe Kachikwu, the day prior to the 169th Meeti...
Minister Del Pino Met with his Counterpart from Saudi Arabia
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, met with his counterpart from Saudi Arabia, Khalid Al Falih, the day before the 169th Meeting of the OPEC Conference. ...
Ministers Del Pino and Khepri Held a Meeting Prior to the OPEC Conference
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, and his Algerian counterpart, Salah Khebri, exchanged views on the current situation of the oil market, the day before the 169th Meeting of...

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