News / International
Iraq Oil Export Increased to 3.5mb/d in April
Oil fell as rising exports from Iraq underlined the global oversupply situation over an increase from Iraq's southern ports of an average of almost 3.5mb/d in April, an official from the state-run South Oil Company said.
Turkey Mulls New Legislation to Open Gas Market
Turkey is planning new legislation to further open the country's gas market, which is currently dominated by state gas importer and transmission operator Botas, Mustafa Yilmaz, the Head of Turkey's energy regulator EPDK said in an interview.
Austrian OMV to Develop Iranian Cheshmeh Khosh Oilfield
Austrian energy company OMV has announced it was ready to resume developing the Cheshmeh Khosh oilfield in western Iran.
Latin America Calls for Steps to Improve Oil Prices
Latin American oil producers, including main exporters such as Venezuela, Colombia, Ecuador, and Mexico, asked to take the necessary steps to stabilize the global crude market in a bid to improve prices for the benefit of the producing and consuming countries.
Iran Breaking Pricing Tradition for Crude Exports to Asia
Iran is seeking to enter an oil price war with its rivals. Tehran ratcheted up its offense in the oil market by breaking a pricing tradition, signaling it is determined to win its market share at a time when rival producers are trying to forge a deal on freezing output.
Saudi Arabia, India Seek Boosting Energy Cooperation
Saudi Arabia and India have vowed to substantially boost investments and their trade ties as Prime Minister Narendra Modi invited cash-rich Saudi firms to invest in infrastructure and form joint ventures for oil exploration.
Europe’s Banks Hold Fewer Risky Energy Assets Than US Rivals
The energy exposures of the large European banks are moderate and do not present a significant risk to their earnings or capital. However, rising provisions in 2016 will weigh on profitability, Moody's Investors Service said in a report.
Nigeria Convinces Oil Majors to Pay $200m for Fuel Imports
Nigeria will get $200m in badly-needed hard currency from oil majors to pay for fuel imports and ease petrol shortages that has hit the OPEC producer, the head of state-run oil firm NNPC said.
