News / International
Ghana Striving for Economic Recovery Seeking Oil Output Boost
Ghana's President, John Dramani Mahama, has projected country’s oil production to hit 0.5mb/d in 2020 by adding oil from recently discovered reservoirs of Greater Jubilee, made by Eni, to the current output of 120,000b/d produced from the Jubilee field.
China Sees Decline in Crude Imports and Fuel Exports
China records crude imports drop over 4.6%, net fuel exports fall by 76% month-on-month in January and gross fuel exports decline by 30% month-on-month.
Russia Decreases Oil Export Duty by 24%
Russia's oil export duty is expected to fall 24% month-on-month in March to the level of $39.5 per ton due to declining oil price, down from $52 per ton from the period between mid January to mid February.
Riyadh and Moscow Propose to Freeze Oil Output
Oil ministers of Saudi Arabia and Russia, Ali Al-Naimi and Alexander Novak, held talks in Qatar on 16th February to discuss the oil market amid a push for cooperation between OPEC and other major producers to tackle a global surplus.
Nigeria Seeks Capital for Drilling Projects, Debt Repayment
Nigeria is in talks with oil majors and banks to raise capital for new drilling projects as most recent statistics have indicated that the country has seen a loss in oil capital of up to $1.34b in 2015.
Saudi to Secure Egypt’s Fuel Needs for Next 3 Months
Egypt and Saudi Arabia have reached a deal to supply Egypt with a monthly 800,000 tons of petroleum products for three months starting from February 2016.
Iran’s Oil Industry Is in Need of $200b in Investments
Iran's Ministry of Petroleum stated that the country's oil industry is in need of $200b in investments in the upstream and downstream sectors as the domestic fund are insufficient.
Russia, Iran, Azerbaijan to Establish North-South Energy Corridor
Azerbaijan, Iran, and Russia agreed to establish a North-South energy corridor, linking the three countries and exporting electricity from Moscow to Baku and Tehran.
