News / International
Russia to Increase Oil Exports to China
China is ready to import 27m tons of Russian crude this year, which would allow Moscow overtake Saudi Arabia as China's biggest oil supplier, according to Transneft Vice-President, Sergey Andropov. Russia exported 26.68m tons of oil to China in 2015, a 17.5% increase compared with 2014.
Kenya to Construct New Mombasa Oil Terminal
Kenya Ports Authority (KPA) is set to start construction work for a new oil terminal in Mombasa, and the State agency published a notice inviting bidders to apply for the project before April 29th.
IMF Cuts Nigeria’s Growth Forecast to 2.3% in 2016
The International Monetary Fund (IMF) cuts again its growth forecast for Nigeria as the oil exporter faces "substantial challenges" due to low crude prices.
Iran-Oman Gas Pipeline Route Finalized
Tehran has announced that it has laid foundation for a subsea pipeline to export natural gas to Oman following reports that the route for the pipeline has been finalized jointly by Iranian and Omani experts.
Riyadh Sets Conditions for Oil Output Freeze Deal
Saudi Arabia's Deputy Crown Prince Mohammed bin Salman, said that Riyadh will only freeze its oil output if Iran and other major producers do so, while challenging the country’s main regional rival to take an active role in stabilizing the over-supplied global crude market.
Libya’s NOC Supports UN-Backed Unity Government
Libya’s National Oil Corporation (NOC) said it was working with the U.N.-backed unity government to coordinate future oil sales and “put a period of divisions and rivalry behind us.”
Iran Not to Join Oil Output Freeze Plan at Doha Summit
Iran will attend talks with fellow members of the Organization of Petroleum Exporting Countries (OPEC) and Russia in Qatar on April 17th, yet without joining their proposal to freeze crude oil production.
Mexico’s Proven Oil and Gas Reserves Fell 21% in 2015
Mexico’s proven oil and gas reserves dropped 21.3 percent in 2015, the oil regulator said, as the state-run oil company, Pemex, cut back on investment because of plunging crude prices.
