News / International
China Directs Record Crude Imports to Boosting its Fuel Exports
China, the world's second largest oil consumer, has filed a record high crude imports of nearly 9% in 2015, enlarging its domestic reserves, while projecting to increase exports of refined oil products, as its domestic oil demand growth is likely to decrease to 4.3% in 2016.
Nigeria Increasing Efforts against Oil Vandals
Nigerian officials are implementing greater measures to combat theft and vandalism of Nigeria’s oil pipelines
Japan Records Drop in Oil, LNG Imports, Switching to Coal
Japan's oil imports fell to a record low of 3.37mb/d, down by 2.3% in 2015 and imports of LNG, of which the country is the world's biggest consumer, fell 3.9% to 85m tones last year. Tokio is now seeking to switch to cheapest and dirtiest fossil fuel aiming to ramp up coal imports.
UK’s RSK Group Conducts First Aerial Oilfield Surveys in Iraq
The RSK Group, a privately-owned environmental consultancy in the UK, has completed its first aerial survey in southern Iraq using an unmanned aerial vehicle (UAV), which is to become of particular use for oil companies in the future.
Fitch Hints to Downgrade Major Oil Companies
Fitch Ratings Agency stated that weak oil prices in 2016 will leave five out of seven large oil companies with financial leverage above the required level, hinting looming downgrading. Total is to make the sharpest cuts in its investments - of up to 49% and in shareholder returns among all oil majors in Europe.
Low Oil Prices May Spur Reform in Angola
Low oil prices has pushed the Angolan government to move forward with a reform in private investment and public services, but the process seems to be moving slowly.
Israel Accuses Turkey of Financing IS via Illegal Oil Purchases
Israel has accused Turkey of contributing to the finances of Islamic State through purchases of ISIS-trafficked oil. It is feared that these charges will block any progress towards normalization of Israeli-Turkish relations and with that the negotiations to import Israeli natural gas ongoing since December may be halted.
Sound Energy Takes Majority Share of Morocco Gas Field
Sound Energy has agreed to buy 75% of the Sidi Moktar onshore gas field in Morocco.
