News / International
Tanzania-Uganda Oil Pipeline to be Launched in August 2016
Construction of the long-awaited Tanzania-Uganda crude oil pipeline is expected to start in August this year, and will be completed in 2019. The $4b pipeline is to ship 200,000b/d and it will be carried out by UK’s Tullow Oil PLC, France’s Total E&P, and China’s Cnooc.
Shell Repays $1.94b Oil Debt to Iran
Royal Dutch Shell has paid $1.94b it owed to the National Iranian Oil Company, settling debts after sanctions against the country were lifted in January. Iraqi Kurdistan Region Sees 50% Decline in Oil Exports
Oil exports from the autonomous Kurdistan region in northern Iraq declined by nearly 50% in February due to the ongoing outage of a pipeline to Turkey, wiping $350m off the cash-strapped Kurdistan region's revenues as it battles Islamic State.
Russia’s Rosneft to Solo Drill First Offshore Well
Russia’s largest oil producer Rosneft will start drilling its first international offshore well as a sole operator off the south coast of Vietnam this month.
Djibouti, Ethiopia, China Start $4b Mega Gas Project
Djibouti, Ethiopia, and China have launched a new mega gas project, which comprises a natural gas pipeline, a liquefaction plant, and an export terminal at Damerjog in Djibouti, worth a total investment of approximately $4b.
South Africa to Start Shale Gas Exploration Next Year
The first exploration for shale gas in South Africa will begin in the next financial year, following years of postponement. A World Energy Council report mentions South Africa as having significant potential for shale gas development.
Chevron’s Mega Gas Project in Australia Starts Production
US Chevron Corporation commenced LNG and condensate production at the $54b Gorgon Project on Barrow Island, located off the northwest coast of Western Australia. Its first cargo is scheduled to be shipped in mid March.
Norway’s Statoil Ends China Oil Rig Contract in the North Sea
Norway's Statoil has decided to end its contract with the China Oilfield Services Limited, or COSL, which operates a drilling rig in the North Sea over unsatisfactory performance.
