News / International
Niger Delta Militants Give Oil Companies 2 Weeks to Shut Down
The Niger Delta Avengers (NDA), the new face of violent agitations in the region, issued a two-week ultimatum to owners and operators of oil blocs in the area to shut down their business operations and evacuate all their staff or face a ‘bloody’ attack.
Aramco’s Huge Marine Complex to Be Ready by 2021
National oil giant Saudi Aramco expects a huge ship repair and shipbuilding complex that it is developing at Ras al-Khair on the Kingdom's east coast to be fully operational by 2021.
ISIS Yearly Oil Revenue Halved
The Islamic state's oil revenue has been cut down in half to about $250m per year as a result to air strikes, drop in oil price, and counter-smuggling efforts by neighboring countries.
Algeria: Photovoltaic Power Plant Commissioned
Algerian Minister of Interior and Local Authorities, Noureddine Bedoui, has commissioned a photovoltaic power plant with a production capacity of 9MW in the southern province of Tindouf.
Owner of Moroccan Refiner Samir Pledges to Inject $680m
Mohammed al-Amoudi, Corral Petroleum Holdings owner, is committed to injecting $680m into its Moroccan refiner Samir to try to reverse a decision placing it in liquidation
Canada Oil Sand Fields Gradually Return
Workers for one of the largest oil sands companies affected by a wildfire in northern Canada started to return to the shuttered facilities on May 12th. The gradual return of Canadian oil sands output dragged down oil prices.
Abu Dhabi’s Taqa Posts Q1 Loss Hurt by Low Oil Prices
TAQA reported a first-quarter net loss hurt by low oil prices. The company, majority-owned by Abu Dhabi's government, reduced its first-quarter revenue by 24% following a 43% drop in the price it sold its oil and gas.
Australian Entek Energy Exits Gulf of Mexico
Australian Entek Energy has entered into an agreement with Houston-based Peregrine Oil & Gas to sell the company’s entire Gulf of Mexico portfolio for almost $3m as market conditions continue to take their toll.
