News / International
Kuwait Sets $155 Billion Capital for Five Year Development Plan
The Kuwaiti government has set capital spending in the five-year development plan starting in April at KD 45.5 billion ($155 billion), a majority of which will be spent on projects and development of human resources, MP Mohammad Al-Jabri said yesterday.
Saudi and Venezuela Work Together to Recover Falling Oil Prices
Venezuela and Saudi Arabia are coordinating joint action to recover oil prices, which fell 50% last year, and stabilise global oil markets, Venezuelan Minister of Economy and Finance and Public Banks Rodolfo Marco Torres said yesterday.
Otto Energy and PNOC in Potential Philippines Farm-in Agreement
Otto Energy Ltd. says that PNOC Exploration Co. (PNOC-EC) has expressed an interest in farming into SC 55 for a 15% working interest.
China’s First Deepwater Gas Project Gets Underway
Husky's Liwan gas project is the first deepwater gas development offshore China.
Iran and China Sign Agreement for Refinery
Deputy Head of National Iranian Oil Refining and Distribution Company (NIORDC) Shahrokh Khosravani announced signing of an agreement between Iran and China in order to finance one of the largest refinery projects in Iran.
Iran and Venezuela Join Forces to Stabilize Falling Oil Prices
Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon.
Iraq Can Sue Kurdish Regional Government for Oil Repossession
The oil tanker SCF Byrranga, which was renamed the United Kalavryta (also known as United Kalavrvta) in March 2014 and is currently off the coast of Texas with a cargo of Kurdish crude oil. US District Judge Gray Miller in Houston has rejected the Kurds’ claims of sovereign immunity and said the regional government’s plans to sell its crude in the US gave him authority to hear the lawsuit.
Ghana’s Sole Refinery Resumes Operations
State-owned Tema Oil Refinery Co. Ltd. (TOR) has resumed crude oil processing at its 45,000-b/d refinery in Tema, Ghana, after a nearly 4-month operational shutdown, according to Ghana’s Ministry of Energy & Petroleum (MEP).
