News / International
OPEC Lost $1t to Slump in Prices
The Organization of Petroleum Exporting Countries’ (OPEC) Secretary-General, Mohammed Barkindo, explained the amount was lost in terms of deferred projects and outright cancellation of projects across its entire value chain.
Nigeria Receives 128 Bids for Oil-for-Fuel Swaps
Nigeria's state oil company received 128 bids from companies that want to exchange processed fuels for as much as 800,000 b/d of unrefined crude in 2017.
Iran to Boost West Karoun Output by 10%
Iran aims to boost the nominal output capacity from the oil block by 40,000b/d from the present 320,000b/d, according to Petroleum Engineering and Development Company’s (PEDEC) Managing Director, Noureddine Shahnazizadeh.
Rosneft to Develop 3 Offshore Areas in Mozambique
Rosneft expects to make concession agreements for development of three offshore areas in Mozambique in mid-2017.
Angola Reaches Highest Oil Revenue in 16 Months
Angola reported $950m in crude oil export revenues for January, the highest in 16 months.
Nigerian Oil Minister: OPEC Must Lower Production Costs
Nigerian Minister of Oil, Emmanuel Ibe Kachikwu said that Members of the Organization of the Petroleum Exporting Countries (OPEC) must lower production costs to compete better with shale producers.
Nigeria: NPDC to Witness a 500,000b/d Production Boost by 2020
The Nigerian Petroleum Development Company (NPDC) will see its production grow to 500,000 b/d by 2020, according to a new commitment made by the Nigerian National Petroleum Corporation (NNPC).
Middle East OSV Market Shows Modest Growth
The Middle East is the only region to buck the downward trend in offshore supply vessels (OSV) over the last two years, IHS Markit analysis suggested. The region is the second biggest global OSV market with 17% of the global fleet.
