Nafusa Looks to Produce 10K b/d from Libya’s Block 47
Nafusa Oil Operations plans to begin producing 10,000 barrels per day (b/d) of oil from Block 47 in Libya’s Ghadames Basin.
News / International
ADNOC Raises $851M in 10% IPO of Distribution Unit
Abu Dhabi National Oil Company (ADNOC) offered 1.25 billion shares in ADNOC Distribution on the Abu Dhabi Securities Exchange for the price of 2.5 AED today.
Petrofac Wins $800M Khazzan Contract
BP awarded Petrofac an $800 million contract for the second stage of development at the Khazzan natural gas field in Oman.
ADNOC Considers New Pricing Mechanism
The Abu Dhabi National Oil Company (ADNOC) is considering changes to its pricing mechanism.
Plans for Exiting Production-Cut Agreement to be Announced in June
OPEC and its oil-producing allies will announce in June their plans for exiting the production-cut agreement.
Iraq Increases the Capacity of Kirkuk Refinery
A new unit has increased the capacity of the Kirkuk refinery by 13,000 barrels per day (b/d).
Saudi Arabia Readies to Hike Domestic Fuel Prices
Saudi Arabia plans to raise gasoline and jet fuel prices in January to better align domestic prices with the international market.
Kuwait Appoints New Oil Minister
In a cabinet shake-up, Bakheet El Rashidi, CEO of Kuwait Petroleum International (KPI), has been appointed as Kuwait’s new oil minister.
DEA, Sonatrach Sign MoU
Sonatrach signed a memorandum of understanding (MoU) with DEA Deutsche Erdoel AG to provide a framework for DEA to operate in Algeria.
Iraqi Kurdistan’s Northern Taq Taq Field Produces Oil
Genel Energy Company announced that it has hit oil in the northern area of Taqt Taq field in Iraqi Kurdistan as a result of its test appraisals.
