News / International
Venezuela in Talks with Global Oil Majors to Tackle Low Oil Prices
Venezuela has made four formal proposals to OPEC and non-OPEC states - Russia, Saudi Arabia, Iran and OPEC Head - in an attempt to summon a joint emergency meeting to tackle the continuously declining oil prices and stabilize the market.
Ethiopia and Denmark to Join Forces in Renewable Energy
Ethiopia and Denmark are keen to work together on renewable energy development, as Danish Foreign Minister Kristian Jensen said.
IMF, World Bank Ponder $4b Emergency Loan to Azerbaijan
The International Monetary Fund (IMF) and World Bank (WB) are negotiating a possible $4b emergency loan for oil exporting country, Azerbaijan, helping it to cope with mounting currency and budget pressures due to a steep drop in crude prices.
Nigeria to See Rise in Crude Exports in March
Nigeria is to see an increase in its crude oil exports in March, as Eni has lifted its force majeure on Brass River crude and Shell has reopened the Trans Niger pipeline.
Mexico Slowing Deepwater Oil Auctions
Mexican regulators announced that they would continue easing the pace of oil auctions on deepwater and shale production for private investors - in line with the country's controversial energy reform - due to oil prices slump.
Aramco Purchases $1.12b of Oil Products from South Korea’s S-Oil Corp
South Korea's S-Oil Corp agreed to sell $1.12b of oil products to Saudi Aramco Products Trading Company, an increase compared with 2015.
Bahrain Signs $355m Deal with Japan for Gas Plant Expansion
Bahrain signed a $355m deal with Japan's JGC Corp to build the expansion of a gas plant for the Bahrain National Gas Company (Banagas).
Iran Signs $1m Solar Power Contract with British Firm
Bakhtar Regional Electricity Company, a subsidiary of Iran Power Generation and Transmission Company (TAVANIR), has signed a $1m contract with Britain’s Surrey Satellite Technology (SST) company to build a 50 MW capacity solar power plant, Iran’s first ever electricity deal with Britain, to be delivered by September 2016.
