News / International
IMF, WB Mull $3b Loan to Azerbaijan’s Weakening Oil Economy
The International Monetary Fund and World Bank are considering a $3b loan to Azerbaijan to help the country face weakening currency amid global oil price slump.
China’s Crude Oil Import from West Africa Expected to Rise
China is expected to further increase crude oil imports from West Africa in February in spite of the country's weak economic growth, with tankers estimated to load 1.38mb/d of crude, the highest daily level since July 2015.
UAE’s Gulf Energy to Purchase Share in US Helium Gas Field
Gulf Energy Corporation, a UAE-based privately-held energy company, has signed an agreement to purchase a share in the deep gas development well in the US state of New Mexico to be drilled in 2017.
Iraq Records Oil Export Rise Amid Decline in Revenues
Iraq has recorded a rise in exports from its southern oil fields to an average of 3.285mb/d in January, up from 3.215mb/d in the previous month, seeing a drop in oil revenues of up to $650m.
Sudan Cancels Fuel Subsidies
Sudan has cancelled state subsidies on fuel oil, jet fuel, and cooking gas, lifting all administrative restrictions, which allows for the opening of the sector to the private sector.
GE Signs $600m Oil&Gas Investment Agreement in Italy
General Electric has signed a $600m investment agreement in Italy for research and development projects in the oil and gas sector for the next five years.
Nigeria Asks for $3.5b Emergency Loans from World Bank, AfDB
Nigeria’s government is in talks for concessionary loans worth $3.5b from the World Bank and the African Development Bank to help finance its planned record budget in 2016.
Iran to Boost Oil Production Capacity from North Azadegan, Yadavaran Oilfields
Iran is to boost its crude oil production capacity by 160,000b/d following the completion of expansion projects at its North Azadegan and Yadavaran oilfields in south-western Iran.
