News / International
Iran says not storing oil in Gulf due to sanctions
Iran has not stored oil on tankers in the Gulf, and its crude exports have not been disrupted due to mounting international pressure over its disputed nuclear program, an oil official told the semi-official Mehr news agency on Saturday. Inpex, Total Green Lights $34B Australian LNG Project
Inpex and Total have given the green light to build one of Australia's most expensive energy projects at an estimated cost of US $34 billion over the next five years. Statoil ‘may exit West Qurna 2’
Statoil reportedly may be looking to dispose of its stake in the West Qurna 2 field development project in Iraq as security in the country deteriorates following the withdrawal of US forces amid escalating political tensions. Oil Falls to Lowest Level in Three Weeks on Plans to Delay Iranian Embargo
Oil dropped to a three-week low after two European Union officials said an embargo on Iranian crude imports may be postponed for six months. Saipem awarded E&C onshore contracts worth approximately $600 million in Saudi Arabia
In December, Saipem has been awarded in Saudi Arabia, by SABIC affiliate Safco (Saudi Arabian Fertilizer Company), the lump sum turnkey contract for the project ''Safco V''. Nigerian Union Threatens to Stop Oil Production Sunday
A major Nigeria oil workers' union Thursday threatened to halt production from Sunday if the government doesn't reinstate fuel subsidies, heightening the potential for a disruption of oil shipments from Africa's largest oil exporter. OMV Touts 60% Pre-War Level Production in Libya
Austrian energy giant OMV said Thursday its oil production in Libya now stands at 60% of the pre-war level, up from 30% in November. Circle Oil completes Morocco pipeline
AIM-listed Circle Oil has announced it has completed a pipeline in Morocco to deliver gas it discovered in the past four years in the Rharb Basin to local industry. 
