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Financials and Investment News

PA Resources Signs Credit Facility
Tunisia >> 3/31/2014 - PA Resources has signed a working capital facility of USD 50 million. The facility is a one-year working capital facility of USD 50 million with Gunvor Finance Limited as Lender. It carries a fixed ra...
Algeria Cuts April Price for Saharan Blend Crude
Algeria >> 3/27/2014 - Algeria has cut its April official selling price (OSP) for Saharan Blend crude oil to dated Brent plus 40 cents a barrel from plus $1.40 in March, state firm Sonatrach said. ...
Libya Keeps April Prices on Offshore Crude Oil Grades Steady
Libya >> 3/27/2014 - Libya's National Oil Corp kept unchanged the April official selling prices on its two offshore grades, the only ones still being exported due to a blockade of most of the country's oil terminals by pr...
Eland Exercises Options to raise £14m
Nigeria >> 3/26/2014 - Eland Oil & Gas PLC, an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, is pleased to announce that it has exercised the remaining balance of o...
Israel Panel Clears up Uncertainty With Gas Export Tax
Israel >> 3/25/2014 - An Israeli government panel presented its preferred model for taxing natural gas exports, ending months of uncertainty blamed for delaying a deal for Woodside Petroleum to buy into the Leviathan offsh...
Fuel & Electricity Prices Hampering Investments in Egypt
Egypt >> 3/25/2014 - Petroleum Minister Sherif Ismail said the prices of petroleum products and electricity are hampering investments in the field of petrol, natural gas and solar energy. ...
Algeria's Oil Revenues Hit $27 billion in 2013
Algeria >> 3/25/2014 - The Revenues Regulation Fund (FRR), of the hydrocarbon, is up by DZD2,062 billion (some $27 billion) in 2013, according to the last figures of the Finance Ministry. ...
SapuraKencana Signs $5 bln Refinancing to Help Fund Acquisitions
Malaysia >> 3/20/2014 - Malaysian oilfield service provider SapuraKencana Petroleum Bhd has signed a $5 billion refinancing deal with 13 banks to partly fund two of its most recent acquisitions. ...
Safari & Western Engage Taylor-DeJongh for Comoros Advice
Comoros >> 3/20/2014 - Safari Petroleum, PLC and Western Energy Production (USA), which gained Parliamentary approval for its Comoros Blocks D, E, F on March 17th, have engaged Taylor-DeJongh (TDJ) as their Strategic and Fi...
Gulf Keystone to Raise US$250 Mln in Debt Offering
Iraq >> 3/19/2014 - Gulf Keystone, an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq, is pleased to announce that it has mandated Deutsche Bank and...
Administrative Fine of 327.9 billion Tenge Dismissed by Court
Kazakhstan >> 3/19/2014 - JSC KazMunaiGas Exploration Production (“the Company”) is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region (“the Court”) has ruled that the Act on inspection ...
Japan's TOCOM & DME in Pact to Develop Energy Contracts
United Arab Emirates >> 3/17/2014 - The Tokyo Commodity Exchange (TOCOM) and the Dubai Mercantile Exchange (DME) have signed a memorandum of understanding for the development of energy contracts, such as crude oil, the Japanese commodit...
Canacol to Upsize Senior Secured Term Loan to $220 million
Colombia >> 3/17/2014 - Canacol Energy Ltd has entered into discussions to upsize its existing senior secured term loan with a syndicate of banks led by Credit Suisse as Lead Arranger, Sole Bookrunner and Administrative Agen...
Norway Wealth Fund Examining Total's Ethics in W.Sahara
Western Sahara >> 3/12/2014 - Norway's sovereign wealth fund is examining the operations of oil firm Total in Western Sahara, a disputed region of North Africa with a history of human rights abuses, to ascertain whether its activi...
Oil market highlights - Mar 14
Austria >> 3/12/2014 - Crude Oil Price Movements
The OPEC Reference Basket edged up 70¢ to settle slightly above $105/b in February, as cold weather, supply disruptions and geopolitical factors helped to push o...
Balance of Supply and Demand - Mar 14
Austria >> 3/12/2014 - Demand for OPEC crude was revised up by 0.1 mb/d from the previous report for both 2013 and 2014. The demand for OPEC crude is estimated at 30.0 mb/d in 2013, representing a decrease of 0.5 mb/d fro...
Seplat to List on London and Nigerian Stock Exchanges
Nigeria >> 3/11/2014 - Seplat plans to raise at least $500 million by floating shares on the London and Nigerian stock exchanges to pay down debt and fund acquisitions, it said. ...
Egypt Tries Harder to Stop Energy Firm Exodus
Egypt >> 3/6/2014 - Egypt is enhancing exploration terms and striving to repay nearly $5 billion it owes to foreign oil and gas producers as it struggles to prevent them fleeing to more promising prospects elsewhere in A...
Extension of Loan Facility & Exercise of Options to Raise £6m
Nigeria >> 2/27/2014 - Eland Oil & Gas PLC, an oil & gas development and exploration company operating in West Africa with an initial focus on Nigeria, is pleased to announce that it has extended its US$22 million loan faci...
Libya Puts Ministries Under Special Budget Rules After Oil Revenue Slump
Libya >> 2/24/2014 - Libya has put some government departments under special spending rules as a slump in oil revenue has hampered drafting a budget for this year, officials and experts said, highlighting the dire situati...

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