News / International
Libya’s NOC Signs Agreement to Reopen Oil Ports
The Libyan UN-backed authorities have reached an agreement with the Petroleum Facilities Guards (PFG), an armed brigade monitoring the two main oil ports Ras Lanuf and Es Sider, to bring an end to a blockade and restart crude exports.
OPEC Oil Output to Reach Record High in July
The Organization of the Petroleum Exporting Countries' (OPEC) oil output is likely to reach its record in July. Supply from OPEC has risen to 33.41mb/d in July.
Exxon, Petrochina to Develop Iraq’s Oil Fields
ExxonMobil and Petrochina are in talks with the Iraqi government about possible solutions to boost crude production at the Nahran Oman and Artawi fields, said Iraqi Deputy Oil Minister, Fayyad Al-Nima.
Spain’s Gas Group to Comply with 2020 Strategy
Spain’s largest gas and LNG group, Gas Natural Fenosa (GNF) has announced that it will continue to show resilience to the international gas surplus until the rest of the year and that it could witness a trivial improvement in the gas margin after a rather turbulent period. This will allow the company to comply with the targets outlined in its 2020 strategy.
Six Energy Giants Interested in Cyprus’ Offshore Licenses
Cypriot Energy Ministry, Georgios Lakkotrypis, has announced the names of six of the eight companies that had sent their expressions of interest for earning licenses for offshore hydrocarbon blocks in the country.
Chinese Workers to Construct Kenya’s $2b Coal Power Plant
A number of 1,400 Chinese workers are to be hired through the Chinese developer, contracted by Amu Power Company, for the construction of Kenyan Lamu's coal power plant worth $2b.
Saudi SABIC Records Cost Slump, Low Sales
Acting Chief Executive of Saudi Basic Industries Corp (SABIC) announced that the giant company has recorded an 18% slash in its Q2 costs of 2016, down from the first three months of the year.
Algeria’s New Economic Model to Counter Oil Revenues Slump
OPEC member Algeria adopted a new economic growth model, as part of the North African nation's efforts to diversify its economy, which has been dependent on hydrocarbons revenues.
