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Statoil Met Police over Angola Payments
Angola >> 2/19/2016 - Oil major Statoil met Norway's white-collar crimes police unit this week to explain payments made to Angola's state energy firm Sonangol, the Norwegian company and public officials said. Statoil denie...
Bashneft Purchases Bonds Worth 9.9 billion Roubles Under a Put Option
Russia >> 2/18/2016 - Bashneft has completed the purchase of series 04 bonds worth a total of 9 858 534 thousand roubles under a put option. ...
Manufacturing a First for IKTVA Program in Saudi Arabia
Saudi Arabia >> 2/17/2016 - Six high-efficiency gas compression trains for the first phase of Saudi Aramco’s Master Gas System Expansion Project have been assembled locally in Dammam, Saudi Arabia, for the first time, marking a ...
Gazprom Approves List of Measures Aimed at Increasing Company’s Global Market Share
Russia >> 2/16/2016 - The Gazprom Board of Directors approved an updated list of measures aimed at increasing the Company's share in the global gas market. It was noted that amidst the industry-wide changes the updating of...
Petroleum Development Oman to Borrow Abroad to Finance Projects
Oman >> 2/15/2016 - State-owned Petroleum Development Oman (PDO) will in future borrow abroad if it needs to finance projects rather than ask for more funds from its shareholders, Minister of Oil and Gas Mohammad bin Ham...
Bank Nizwa Signs $50m Financing Agreement with Hydrocarbon Finder
Oman >> 2/15/2016 - Bank Nizwa SAOG has signed an agreement to provide a structured financing facility of USD 50 million to Hydrocarbon Finder E&P LLC (HCF), an independent Oil & Gas exploration & production company prom...
Operational Excellence During Oil Price Downturn
United States >> 2/15/2016 - The oil industry is going through a rough patch right now. It may seem dire with wells going offline and new exploration being reduced, but this is not the first time this has happened and it won't be...
Balance of Supply and Demand - February 2016
Austria >> 2/11/2016 - Demand for OPEC crude in 2015 was revised down by 0.1 mb/d from the previous report to stand at 29.8 mb/d, which is 0.1 mb/d lower than a year earlier. The global oversupply for 2015 is estimated at...
IEA Expects Contraction of Oil Supply Glut
United States >> 2/9/2016 - Crude oil price slumped again yesterday, but weaker dollar is holding prices above recent multi-year lows. The global oil inventories will continue to grow in most of 2016 because the decline in US pr...
KPC to Sell Loss-making Units
Kuwait >> 2/9/2016 - State-run Kuwait Petroleum Corp (KPC) plans to sell loss-making assets to cut costs as low oil prices pressure its finances, state news agency KUNA reported. ...
Saudi, Venezuela Hold 'Productive' Talks on Stabilising Oil Market
Saudi Arabia >> 2/8/2016 - Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart, state news agency SPA re...
Receipt of Payment for KRI Oil Exports from Tawke Field
Iraq >> 2/8/2016 - Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $17.99 million towards the monthly entitlement for ...
Kuwait's EQUATE in Talks to Refinance $6 bln Bridge Loan
Kuwait >> 2/7/2016 - Kuwait's EQUATE Petrochemical Co is in talks with banks to refinance a $6 billion bridge loan that it secured last year and was partly used to fund the acquisition of petrochemical company MEGlobal, s...
Receipt of Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 2/5/2016 - Genel Energy plc announced that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government (‘KRG’) for oil exported through the Kurdistan Region o...
The Status of Oil Price
United States >> 2/3/2016 - U.S. crude oil prices slid as much as 7 percent, pressured by weak economic data from China, a U.S. forecast for mild weather and growing doubts that OPEC and non-OPEC producers would come together to...
Korea Eximbank to Provide $370m Project Financing for Liwa Plastics
Oman >> 2/3/2016 - The export-import Bank of Korea (Korea Eximbank) will provide $370 million (447.33 billion won) to finance the Liwa Plastics project in Sohar, construction of which has been awarded to Korea’s GS Engi...
IMF to Lend to African Oil Producers; No Requests Yet
Angola >> 2/2/2016 - The International Monetary Fund said it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding reques...
Lundin Petroleum Secures Reserve-based Bank Financing
Norway >> 2/2/2016 - Lundin Petroleum AB has entered into a committed seven year senior secured revolving credit facility of up to USD 5.0 billion, with an initial committed amount of USD 4.3 billion. ...
Estimate for 2015 Balance of Supply and Demand - January 2016
Estimate for 2015 Balance of Supply and Demand - January 2016 Austria >> 2/2/2016 - Demand for OPEC crude in 2015 is estimated at 29.9 mb/d, representing an increase of 0.2 mb/d higher than the 2014 level. Within the quarters, the first quarter fell by 0.7 mb/d, while the second quar...
KRG to Pay Oil Companies According to 2016 Contracts
Iraq >> 2/1/2016 - Iraq's Kurdistan region said on Monday it would pay international oil companies according to their contractual entitlements in 2016 in a bid to restore confidence and raise production. ...

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