News / International
Somalia to Launch Exploration Bid
Somalia will launch its first hydrocarbon licensing round early 2017 targeting offshore blocks. The Minister of Petroleum unveiled details on the plans for a 2017 license round during the Africa Oil Week held in Cape Town late October.
Sonatrach Boosted Oil Output, Exports
Sonatrach exported 89m tons of oil and gas during the first ten months of 2016. Furthermore, oil production had increased by 80,000b/d during the third quarter of the year, with the company making 28 hydrocarbon discoveries.
OPEC’s Oil Output to Reach 34mb/d
OPEC's oil output will set another record high in October. According to shipping data and information from industry sources, supply from OPEC has risen to 33.82mb/d in October from a revised 33.69mb/d in September.
EBRD Funded Wind Farm in Jordan
The European Bank for Reconstruction and Development (EBRD) is providing a $70m loan to Green Watts Renewable Energy to help build the 86MW Al Rajef wind farm in southern Jordan.
Nigeria Launched Oil, Gas Recovery Plan
Nigeria unveiled Seven Big Wins, as part of short to medium term strategy framework with robust priorities to grow the country's oil and gas sector.
GAS, Fluid Components Formed Saudi JV
Saudi Arabia’s GAS Arabian Services (GAS) will establish a joint venture with US-based Fluid Components International (FCI) in the Arabic kingdom.
Tanzania Saved $7b via Domestic Gas
Tanzania saved up to $7.4b by using natural gas as a source of energy from July 2004 to June 2015. This came as a result of using natural gas to replace expensive fuel such as heavy furnace oil (HFO), diesel, petrol, jet fuel and others, which would have been imported from abroad.
Iran to Develop 4 Oil Fields
The National Iranian South Oil Company will develop four oilfields, Parsi, Karanj, Rag Sefid, and Shadgan, which include nine reserves, in accordance with its new contract model which is expected to extend up to five years per agreement, with no ceiling for investments.
