News / International
Nigeria Spends $7b on Fuel Subsidies
Nigeria spent an estimated $35b as subsidy on petroleum products out of the $300b earned from crude oil over the course of 5 years since 2010. This amounts to approximately $7b annual expenditure on subsidies.
LNG Gas-Up Operations Deployed in Jebel Ali
Excelerate Energy has completed the first commercial gas-up operation at Jebel Ali liquified natural gas (LNG) import terminal via Excelerate’s floating storage and regasification unit (FSRU) Explorer.
Libya to Export Oil to Egypt in EGP
Libya is considering to export Libyan petroleum oil to Egypt for Egyptian Pounds to alleviate Cairo’s burden to secure foreign currency for fuel imports
CHAMAM to Distribute Libyan Lubricants in Tunisia
Libya Oil Tunisia signed a commercial partnership agreement with CHAMAM Division Gros (CDG) for the distribution of different lubricants of Libya Oil Tunisia under the OiLibya and Mobil brands in the Tunisian market.
Iran, Total to Resume Oil Swap with Caspian Sea
Naftiran Intergraded Company Sàrl, Swiss-based subsidiary of the National Iranian Oil Company (NIOC), and France's Total will sign oil swapping deal for around 200,000b/d.
African Petroleum to Cede Stake in Gambian Oil Discovery
African Petroleum Company has signed a Letter of Intent (LOI) with an anonymous international exploration and production company in regards to interests in licenses A1 and A4, offshore Gambia.
Angola’s Block 15 Produced 2b Barrels of Oil
Angolan state oil company, Sonangol, declared that the accumulated output from Block 15 offshore oil concession has reached 2b barrels since production started in 2003.
Kuwait to Build Oil Refinery in Pakistan
Kuwait Petroleum Corporation received approval to develop an oil refinery in the coastal area of Balochistan in Pakistan.
