News / International
UK Oil and Gas Firms Plan to Cut More Jobs
About 32% of UK's oil and gas companies, more than four in 10, are planning to cut more jobs in 2016 in response to the downturn in the industry.
Indian Oil Majors, Russia’s Rosneft to Ink $3-3.5b Deals
State-owned Indian Oil Corporation (IOC), Oil India (OIL) and Bharat PetroResources (BPRL) are set to sign ‘final acquisition agreements’ with Russia’s Rosneft later this month for stakes worth $3-3.5b in two separate oil and gas fields in Siberia.
OPEC Meeting Ends Without Output Freeze Deal
OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling during Vienna's meeting.
Aramco to Keep Spare Capacity in IPO
Saudi Arabia's Oil Minister said that the IPO of the world’s largest oil company is not an end to the policy of keeping some production capacity idle to guard any disruption in supply.
Iraq Pays Debts, Lukoil Pledges Investments
Iraq has started to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow Iraq to maintain stellar output growth.
Oil Supermajors Apply to Bid for Mexican Oil Blocks
US energy giants Exxon Mobil and Chevron are among the 21 companies that have registered to bid for Mexico's fourth phase of maiden offshore oil blocks auction, estimated to contain 4b boe in reserves, alongside European biggies.
Iran Calls For OPEC Quota System
Iranian Minister of Petroleum, Bijan Zangeneh, said that Iran wants a quota system of production to be reinstated in the Organization of Petroleum Exporting Countries (OPEC).
New Petrobras’ CEO to Recover Company’s Credibility
The new president of Petrobras, Pedro Parente, said during his swearing in ceremony that to improve the company’s performance, the oil giant needs to restore its credibility and recover its economic, financial and social responsibilities.
