News / International
Algeria Confirms Reinstated Security in Oil&Gas Fields
Algerian Energy Minister, Salah Khebri, reaffirmed that the nation's oil and gas fields are fully protected from potential terrorist attacks. "Authorities have taken the necessary measures around the sites," Khebri told reporters in Algiers.
Rosneft’s Market Capitalization Surpasses Gazprom
The oil producer Rosneft became Russia’s most valuable company as its market capitalization of $51.7b in April exceeded that of natural-gas exporter Gazprom at the level of $51.5b for the first time since its shares began trading in 2006.
Kenya Receives Loan to Develop Geothermal Energy
Kenya has received a $29.65m loan to finance its drive for geothermal energy production, as the country aims to reach the targeted 5,000 MW of power with minimal mix from thermal sources.
Wintershall Sees Drop in Yielded Oil for Production in Libya
Germany-based largest chemical producer BASF's subsidiary unit, Wintershall, cannot forecast oil production in troubled Libya this year after producing only on 125 days in 2015, its FCO, Ties Tiessen, told press. The company saw drop in yielded oil from Libyan oilfields.
Five Libyan Oilfields Closed over ISIS Attack Threat
Four Libyan oilfields - Bayda, Tibisti, Samah, and Waha - have closed and were evacuated over pending threat of militant attacks from Islamic State (ISIS). The fifth - Zaltan oilfield - closed after workers went on strike and evacuated the site.
Riyadh, Cairo to Create Joint Investment Fund of $16b
Riyadh and Cairo inked a memorandum of understanding (MoU) for the establishment of a joint investment fund, with a capital of $16b, to be created between Saudi Public Investment Fund and its entities, and the Egyptian government and its entities.
Riyadh Likely to Boost First Sovereign Loan to $10b
Saudi Arabia has seen substantial demand for its first foreign borrowing in more than a decade, and looks likely to increase the size of the loan up to $10b, up from the initially targeted $8b, banking sources said.
Pirates Kidnap Turkish Cargo Ship Crew off Nigeria’s Coast
Six Turkish members of a cargo ship's crew have been kidnapped by pirates off the coast of Nigeria, a spokesman for the Nigerian navy said.
