News / International
Saudi Arabia, Kuwait to Resume Production at Khafji Offshore Oilfield
Saudi Arabia and Kuwait have reached a deal to resume production at the disputed Khafji offshore oilfield, Kuwait’s acting Oil Minister, Anas Al-Saleh, said.
BP, CNPC Ink Shale Gas Exploration Contract in China
The London-based explorer BP and China National Petroleum Corp. have signed a Production Sharing Contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China.
Brazil’s Petrobras Reduces Costs Affecting Up to 12,000 Jobs
Brazil’s troubled state-run oil company Petrobras announced a beefed up voluntary layoff program that could affect up to 12,000 jobs amid intense efforts to cut costs.
Russia to Increase Oil Exports to China
China is ready to import 27m tons of Russian crude this year, which would allow Moscow overtake Saudi Arabia as China's biggest oil supplier, according to Transneft Vice-President, Sergey Andropov. Russia exported 26.68m tons of oil to China in 2015, a 17.5% increase compared with 2014.
Kenya to Construct New Mombasa Oil Terminal
Kenya Ports Authority (KPA) is set to start construction work for a new oil terminal in Mombasa, and the State agency published a notice inviting bidders to apply for the project before April 29th.
IMF Cuts Nigeria’s Growth Forecast to 2.3% in 2016
The International Monetary Fund (IMF) cuts again its growth forecast for Nigeria as the oil exporter faces "substantial challenges" due to low crude prices.
Iran-Oman Gas Pipeline Route Finalized
Tehran has announced that it has laid foundation for a subsea pipeline to export natural gas to Oman following reports that the route for the pipeline has been finalized jointly by Iranian and Omani experts.
Riyadh Sets Conditions for Oil Output Freeze Deal
Saudi Arabia's Deputy Crown Prince Mohammed bin Salman, said that Riyadh will only freeze its oil output if Iran and other major producers do so, while challenging the country’s main regional rival to take an active role in stabilizing the over-supplied global crude market.
