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Financials and Investment News

Completed Placing of New Ordinary Shares to Raise $37.7m
Nigeria >> 5/21/2014 - Lekoil has conditionally raised gross proceeds of approximately US$37.7 million (approximately £22.4 million) through the placing of 33,000,000 new Ordinary Shares at a placing price of 67.75 pence pe...
Aramco Downstream Investments Over $100 bln
Aramco Downstream Investments Over $100 bln Saudi Arabia >> 5/18/2014 - Saudi Aramco, the state-owned firm of the world's largest oil exporter, said its downstream investments would exceed $100 billion over the next decade, as global demand for oil rises by a quarter in t...
Hyperdynamics Settles Litigation with AGR
Guinea >> 5/16/2014 - Hyperdynamics Corporation announced the settlement of litigation in London involving AGR Well Management Ltd. AGR provided project management services for Hyperdynamics' subsidiary, SCS Corporation L...
Aramco, Sumitomo Face Higher Costs for Plant Expansion
Saudi Arabia >> 5/14/2014 - The expansion of a petrochemicals complex in Saudi Arabia owned by Saudi Aramco and Sumitomo Chemical is now expected to cost 32 billion riyals ($8.5 billion), higher than previously estimated, the jo...
Keystone Flags Revenue Uncertainty Due to KRG Delay
Iraq >> 5/14/2014 - Oil explorer Gulf Keystone Petroleum warned a lag in payments for crude from its Shaikan oil field in Iraqi Kurdistan meant its revenue outlook was uncertain as it is still owed $24 million for oil sa...
Oil Market Highlights - May 14
Austria >> 5/13/2014 - Crude Oil Price Movements
The OPEC Reference Basket in April increased 12¢ to $104.27/b, amid marginal improvements in most component values. Crude prices were supported by firmer refin...
Balance of Supply and Demand - May 14
Austria >> 5/13/2014 - Demand for OPEC crude in 2013 was revised up by 0.1 mb/d from the previous report to stand at 30.1 mb/d — 0.4 mb/d lower than the 2012 level. In 2014, demand for OPEC crude also saw an upward revisi...
Gasol Provides Update on Energie de Côte D'Ivoire Acquisition
Ivory Coast (Cote D'Ivoire) >> 5/12/2014 - Gasol announced on 19 February 2014 that GDF SUEZ E&P International S.A. (the "Seller") had received exercising notices in relation to the existing CI-27 Block partners' pre-emption rights. ...
Delek, Avner Raise $2 billion for Leviathan Field
Israel >> 5/11/2014 - Israel's Delek Drilling and Avner Oil have raised $2 billion in an international bond offering to help fund the development of the huge Leviathan natural gas field off the coast of Israel. ...
Uganda to Borrow $145 Million for Oil Region Infrastructure
Uganda >> 5/8/2014 - Uganda said it wanted to borrow $145 million from the World Bank to revamp infrastructure in the Albertine region where it discovered commercial oil reserves. East Africa's third-largest economy is ey...
Egypt's Debts to Foreign Oil Companies up by US$800 ml in 3-Months
Egypt >> 4/30/2014 - The government's debt to foreign oil companies increased by US$800 million in the first quarter of 2014 to reach $5.7 billion versus $4.9 billion last December, said Egyptian General Petroleum Corpora...
Abu Dhabi's Taqa Issues $750m 10-yr Bond
United Arab Emirates >> 4/29/2014 - Abu Dhabi National Energy Co is due to price a $750 million bond with a ten-year lifespan, arranging banks said, with interest from investors covering the size of the transaction more than three times...
Tap Oil Provides Manora Update & Refinancing
Thailand >> 4/28/2014 - Tap Oil Limited has executed a borrowing base debt facility with BNP Paribas (BNP) for up to US$90 million. The BNP facility will replace the US$50 million Manora field development facility and the A$...
Delek, Avner Oil Raise Up to $2 Bln in Bonds
Israel >> 4/28/2014 - Israel's Delek Drilling and Avner Oil said they plan to raise up to $2 billion in bonds locally and abroad to help fund the development of the huge Leviathan natural gas field off the coast of Israel....
New Engota Investment Fund to Acquire Assets in Nigerian Oil Market
Nigeria >> 4/24/2014 - New investment fund, Engota, will begin working internationally within the finance industry to build a portfolio of oil exploration and production assets in the lucrative Nigerian market. ...
Canacol Closes on Long-Term Secured Loan for $220m
Colombia >> 4/24/2014 - Canacol Energy Ltd has closed its previously announced upsizing of its existing senior secured term loan with a syndicate of banks led by Credit Suisse as Lead Arranger, Sole Bookrunner and Administra...
Egypt to Pay $1 bln Owed Oil Firms within 2 Months
Egypt >> 4/22/2014 - Egypt will pay about $1 billion of the money it owes to foreign oil companies within the next two months, the state's MENA news agency said, quoting Oil Minister Sherif Ismail. ...
Libya Slashes Budget by a Third to Offset Loss of Oil Revenue
Libya >> 4/21/2014 - Libya must slash its budget by a third and halt infrastructure funding to offset the loss of oil revenues due to a 9-month shutdown of major ports and oilfields, the head of parliament's budget commit...
Sonatrach to Fund 2 Cancer Hospital Projects in Algeria
Algeria >> 4/15/2014 - State-owned oil group Sonatrach will finance the building of two specialized cancer hospitals in Hassi Messaoud, province of Ouargla (800-km southeast of Algiers) and in Algiers, a source from the min...
Xcite Energy Extends Equity Line Facility Agreement
United Kingdom >> 4/14/2014 - Xcite Energy has extended the term of its existing Equity Line Facility agreement ("ELF") with Esousa Holdings, LLC by three years until 30 July 2017. The terms and conditions of the ELF remain unchan...

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