News / International
Tanzania To Speed Up LNG Project
Tanzanian President, John Magufuli, gave orders to speed up long-delayed work on a planned liquefied natural gas (LNG) plant in the Lindi Region and estimated to cost $30b
South Korea To Drop Iraqi Oil Field
South Korean state-owned company Korea National Oil Corp (KNOC) has decided to pull out of the Sangaw South oil field project in the Kurdish region of Iraq, due to uneconomic exploration results.
Iran’s New Contract Format Approved
Iran’s Vice President, Eshaq Jahangiri, said that he signed an authorization for the Ministry of Petroleum to use the new format of the Iran Petroleum Contract (IPC) for oil and gas deals.
Jordan to Get First Nuclear Plant
The Jordan Atomic Energy Commission's (JAEC) Chairman, Khaled Toukan, declared that the country's first nuclear power plant, worth $10b, will be operational by 2025, once the remaining $7b in financing is secured. Jordan is partnering with Russia to finance 30% of the project that will have two nuclear reactors, each with a capacity of 1,000 MW.
Saudi Arabia Opens IPOs to Foreign Investors
Saudi Arabia's Capital Market Authority (CMA) announced new rules permitting foreign investors to buy shares directly in initial public offerings (IPO). The new policy will take effect at the start of 2017.
MENA Oil, Gas Investments to Reach $900b
A new report by the Arab Petroleum Investments Corporation (APICORP) stated that the total committed and planned energy investments in the MENA region may reach $900b over the upcoming five years
Iraq to Review Oil Foreign Contracts
Iraqi Oil Minister, Jabar Ali Al-Luaibi, stated that Baghdad wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low.
Thailand’s PTTEP Sell Oman 44 to ARA Petroleum
Thailand's largest oil and gas explorer, PTT Exploration and Production Public Company Limited (PTTEP), will sell 100% stake of Oman 44 natural gas project to local firm ARA Petroleum LLC. The deal is expected to close in early fourth quarter of 2016.
