Angolan Banks Call for Bailout as Oil Slump Cuts Liquidity

• Tuesday, 31st January 2017
• by Editorial Team

Angolan banks are appealing to the government to help put together a bailout package to protect account holders as lenders reel from low oil prices that make up almost all of the nation’s foreign-exchange earnings.

Lebanon to Auction 5 Offshore Areas

• Tuesday, 31st January 2017
• by Editorial Team

Lebanon will auction energy-development rights to five offshore areas and adopt production-sharing contracts to attract international investors.

Oman Signs Oil, Gas E&P Deal for Bloc 48

• Tuesday, 31st January 2017
• by Editorial Team

Oman’s Ministry of Oil and Gas has signed an Exploration and Production Sharing Agreement (EPSA) with Oman Oil Company Exploration and Production (OOCEP) for Block 48, located between Al Wusta and Al Dhahira regions.

UAE to Build LNG Port in India

• Tuesday, 31st January 2017
• by Editorial Team

Abu Dhabi's National Marine Dredging Company said it has been awarded a $316m engineering, procurement and construction (EPC) contract for a hi-tech floating LNG (liquefied natural gas) port at Jafrabad in the Indian state of Gujarat.

Saudi Aramco Eyes $5b Investment in Renewables

• Tuesday, 31st January 2017
• by Editorial Team

Saudi Aramco is considering as much as $5b of investments in renewable energy firms as part of plans to diversify from crude production.

Libya, Greece Signed $380m Power Plant Deal

• Tuesday, 31st January 2017
• by Editorial Team

Greece's METKA signed an agreement with Libya's GAEREL to carry out the engineering, procurement and construction (EPC) contract for a new power plant in Tobruk.

Iran’s Crude Output Reaches 3.9mb/d

• Tuesday, 31st January 2017
• by Editorial Team

Iranian Oil Minister, Bijan Zanganeh, indicated that Iran was closing in on its target of restoring output to the level of 4mb/d.

Oman to Invest $1b in Oil, Gas in 2017

• Tuesday, 31st January 2017
• by Editorial Team

State-held Oman Oil Company plans to invest $1b in developing various upstream and downstream projects.

Oman, Japan Signed Pipe-Supply Contract

• Tuesday, 31st January 2017
• by Editorial Team

Petroleum Development Oman (PDO) signed a $1.2b contract with Japanese supplier Sumitomo to supply piping for its drilling operations through Duqm.

Nigeria’s Trans Forcados to Resume Operations by Q2 2017

• Monday, 30th January 2017
• by Editorial Team

The Trans Forcados pipeline is likely to be reopened around the end of the second quarter of 2017, according to Seplat Petroleum Development Company Plc’s CEO, Austin Avuru.