News / International
Oman Revises Petrol, Diesel Prices
Oman’s Ministry of Oil and Gas has announced the revised petrol and diesel prices to be effective as of March. The prices for super grade and regular petrol decreased, while diesel price remained unchanged.
Iraq’s Oil Exports Fall Below Planned Levels in February
Iraq’s Oil Ministry stated that its crude exports declined to an average of 3.225mb/d in February, far below levels planned to provide the nation with badly needed cash for ongoing military operations against Islamic State extremists.
Algeria’s President Calls For Increase in Gas Production
Algeria’s President Abdelaziz Bouteflika has called for a renewed push to increase gas production in a bid to repair state finances. However, it will take efforts to reverse the trajectory of a sector that fell into decline long before the global oil price slump.
Nigerian Petroleum Tankers Blame Government for Fuel Scarcity
Nigerian Petroleum Tankers Drivers (PTD), the arm of the National Union of Petroleum and Natural Gas Workers (NUPENG), blamed the Nigerian National Petroleum Corporation (NNPC) for the current scarcity of petrol in some parts of the country.
China Marks First-Ever Ultra Deepwater Gas Discovery
China's China National Offshore Oil Corp (CNOOC) said it had tapped country's first ultra-deepwater natural gas discovery in the northwestern part of the South China Sea. An "ultra-deep" well is categorized as one that is located more than 1,500 meters under the sea.
Spain’s Repsol Cuts Dividend to Keep Investment Grade
Spain’s largest oil company, Repsol, lowered its dividend after revealing a $2.2b quarterly loss. The group reported a $1.4b net loss for 2015 and it is the third time in less than six months that Repsol has taken steps to prop up its finances and protect its credit rating.
Brazil’s Petrobras Secures $10b in Chinese Loan to Pay Debts
The integrated Brazilian energy company Petrobras has secured a $10b loan from the China Development Bank (CDB) in exchange for supplying petroleum to Chinese companies or to be repaid in cash.
Georgia Negotiating Increase in Azeri Gas Imports
Georgia hopes to reach an agreement with Azerbaijan to increase volumes of Azerbaijani gas imported to the country by additional 400-500mcm/year, Georgia's Energy Minister, Kakha Kaladze, said.
