News / International
Iran’s Oil Exports to Decline by 7.5%
Iran's crude oil exports are set to decline up to 7.5% in November to a four-month low, as the seasonal demand is low in Europe.
Dangote to Drive Africa’s Refinery Expansion
Nigeria’s $17b Dangote refinery is expected to refine as much as 650,000b/d crude oil per day once it is operation by 2019, driving refinery capacity expansion in Africa, by 2020.
Bowleven Advanced in Gas Assets
Edinburgh-based Bowleven said that the Scottish oil explorer was making progress on developing its Cameroonian assets despite its losses widening by $40m in 2015/2016.
Aramco Awarded $1b Deals to Saipem
Saudi Aramco awarded the Italian oil service group Saipem two contracts for new offshore engineering and construction contracts worth around $1b. The contracts include development of Marjan, Zuluf and Safaniya fields in the Arabian Gulf.
Turkey’s Nuclear Power to Start in 2023
Turkey expects the first unit of its planned $20b Akkuyu nuclear power plant, being built in collaboration with Russia, to be online by the end of 2023.
Dana Gas Earned $13m
Dana Gas declared a third quarter net profit of $13m, compared to a net loss of $9m during the same period in 2015, reported Gulf News. The nine-month net profit stood at $26m, against a gain of $10m in the same period last year.
ACWA Setup New Renewable Firm
Saudi Arabia-based ACWA Power is set to launch a new company to capitalize on the rapidly growing market potential for renewable energy in emerging markets. The newly established company named Acwa Power RenewCo.
Kenya to Cut Power CAPEX
Kenya Power expected capital expenditure to fall 16% in its current financial year as it spends less on maintaining its grid. The company said capital expenditure was likely to fall to $9.9m in its financial year to the end of June 2017.
