Saudi Arabia Cut Aramco Income Tax

• Tuesday, 28th March 2017
• by

Saudi Arabia issued a royal decree to decrease the income tax paid by Aramco.

Erin Energy to Discard Extension on Kenya’s L27, L28 Blocks

• Monday, 27th March 2017
• by

Erin Energy decided not to extend its offshore L-27 and L-28 blocks in Kenya due to the higher costs and risks of the exploration process in the current economic environment

Investment Decision on Mozambique’s Gas Expected by July

• Monday, 27th March 2017
• by

ENI, Mozambique's Area 4 operator, will make a final investment decision (FID) still by March and conclude the financial package by the end of the first half of 2017.

Namibia: Eskom Signs Electricity Sales Agreement with Nampower

• Monday, 27th March 2017
• by

Eskom signed a five-year firm electricity sales agreement with Namibia's national electricity utility NamPower last week.

Iran Delivers First Oil Cargo to Belarus

• Monday, 27th March 2017
• by Editorial Team

Belarusian Company of Beloil Polska received a cargo of 600,000 barrels of Iranian oil at the port of Odessa, in southern Ukraine.

Libya Warns against Unapproved Independent Sales

• Monday, 27th March 2017
• by Sarah Samir

Libyan National Oil Corporation (NOC) informed that it had found illegal trials to sell crude oil independently without its prior approval.

Kuwait Oil Tanker Company Establishes New Fleet Program

• Monday, 27th March 2017
• by Sarah Samir

Kuwait Oil Tanker Company (KOTC) finalized establishing a nine-vessel new building program.

IMF Supports Mozambique’s Fuel Price Increase

• Sunday, 26th March 2017
• by

The International Monetary Fund (IMF) supports the Mozambican government decision to increase fuel prices as the IMF believes the step will help the African country in facing its struggles with foreign debt.

Shell to Sell Out Gabon’s Oil Assets to Carlyle Group

• Sunday, 26th March 2017
• by

Royal Dutch Shell Plc has agreed to sell its onshore oil assets in Gabon to a unit of Carlyle Group LP for $587m. The deal is considered a further step in a $30b asset disposal program to help the Dutch company in reducing its debt.

Algeria Supports Extension of OPEC Deal

• Sunday, 26th March 2017
• by Editorial Team

Algeria’s Energy Minister, Noureddine Boutarfa, announced the country’s support in extending global oil production cuts beyond June. Other countries have also added their support for a possible extension, including Venezuela, Iran, and Iraq.