News / International
Wintershall Sees Drop in Yielded Oil for Production in Libya
Germany-based largest chemical producer BASF's subsidiary unit, Wintershall, cannot forecast oil production in troubled Libya this year after producing only on 125 days in 2015, its FCO, Ties Tiessen, told press. The company saw drop in yielded oil from Libyan oilfields.
Five Libyan Oilfields Closed over ISIS Attack Threat
Four Libyan oilfields - Bayda, Tibisti, Samah, and Waha - have closed and were evacuated over pending threat of militant attacks from Islamic State (ISIS). The fifth - Zaltan oilfield - closed after workers went on strike and evacuated the site.
Riyadh, Cairo to Create Joint Investment Fund of $16b
Riyadh and Cairo inked a memorandum of understanding (MoU) for the establishment of a joint investment fund, with a capital of $16b, to be created between Saudi Public Investment Fund and its entities, and the Egyptian government and its entities.
Riyadh Likely to Boost First Sovereign Loan to $10b
Saudi Arabia has seen substantial demand for its first foreign borrowing in more than a decade, and looks likely to increase the size of the loan up to $10b, up from the initially targeted $8b, banking sources said.
Pirates Kidnap Turkish Cargo Ship Crew off Nigeria’s Coast
Six Turkish members of a cargo ship's crew have been kidnapped by pirates off the coast of Nigeria, a spokesman for the Nigerian navy said.
Germany to Invest $194m in Solar Cell Factory in Iran
Germany plans to invest some $194m in a project to build a solar cell and panel factory in Iran. Last November the country already lured German investment for 1,250 MW solar plants.
Russia’s Gazprom Argues Against Sharing Gas Exports to Europe
Russian gas export monopoly Gazprom said that it would not be in accordance with Russia's national interest to allow Novatek and Rosneft to export gas to Europe.
Tanzania Invests $300m to Export Electricity to Kenya, Zambia
Tanzania is planning a $300m energy project to export electricity to Kenya and Zambia, which is expected to be completed within the next two years.
