News / International
Gas Shortages Led to Power Failure in Nigeria
The Nigeria Electricity Supply Industry (NESI) disclosed that about 12 power stations could not produce electricity during off-peak period during the holidays including on Christmas Day.
Iran to Develop 25 Petchem Projects
An official at the Irani state-run National Petrochemical Company (NPC) said that Iran is seeking investment to build 25 petrochemical projects.
NNPC to Explore in Gongola Basin
NNPC announced it had commenced exploration activities in the Gongola Basin as part of its efforts to further expand the nation’s oil resource base.
Shell Shutdown TNP Oil Pipeline
Royal Dutch Shell shut the Trans Niger oil pipeline (TNP) after a fire, threatening to worsen a drop in Nigerian output.
ADNOC to Maintain Oil Fields
Abu Dhabi National Oil Company (ADNOC) has scheduled maintenance at oil fields in March and April that will cut output to meet its OPEC output reduction target.
Vitol to Loan Iran $1b for Refined Oil Products
The National Iranian Oil Company (NIOC) finalized a deal with the world's largest oil trader, Vitol, loaning Iran about $1.05b guaranteed by future exports of refined products.
S. Arabia Cut Oil Output by 486,000b/d
Saudi Arabia has cut its crude-oil production by at least 486,000b/d since October, bringing the world’s largest exporter of petroleum swiftly into line with OPEC’s deal to raise prices.
Libya to Reopen Zawiya Oil Terminal
Libya is re-opening its last major oil-export terminal and producing at the highest level in more than two years as the war-torn country benefits from an exemption from the Organization of Petroleum Exporting Countries (OPEC) output cuts.
