News / International
Nigerian President Rejects Currency Devaluation
Nigeria's President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per $1 in mid February.
Russia, Venezuela Develop Three New Offshore Gas Fields
Russia's top oil producer Rosneft and Venezuela's state oil company PDVSA signed an agreement to set up a joint venture to develop natural gas. Rosneft also plans to invest $500m to raise its stake in its Petromonagas joint venture with PDVSA.
Oman’s National Gas Company Fires CEO over Bribery
Oman’s National Gas Company has terminated a contract with its CEO, Goutam Sen, following upon the 2014 disclosure that he had been detained over suspected bribes paid to a government official.
Mozambique Launches $200m Gas-Fired Power Plant
Mozambique launched a $200m gas-fired power plant in the southern Ressano Garcia region near the border with South Africa, adding 120 MW to the grid.
Nigeria Backs Oil Output Freeze
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their market share lost due to sanctions and war.
Cyprus Plans New Offshore Licensing Bids
Cyprus is planning a third offshore licensing round for oil and gas exploration in the eastern Mediterranean Sea.
Kurdistan Proceeds $15m in Payment to Gulf Keystone Petroleum
The Kurdistan Regional Government (KRG) has authorized a gross payment of $15m to the Gulf Keystone Petroleum (GKP) company for crude exports from the Shaikan field.
BP, Statoil, Algerian Sonatrach, Launch In Salah Gas Production
BP and its joint venture partners Algerian Sonatrach and Norwegian Statoil have commenced production of gas from the In Salah Southern Fields (ISSF) project in Algeria.
