News / International
Brazil to Amend Oilfields Unitization to Withstand Oil Price Drop
Brazil is to amend its legislation regarding the unitization of oilfields in order to provide a stimulus package for the industry to withstand the global oil prices decline.
Iran Signs Multiple Oil and Gas Contracts with Europe
Iran has signed multiple contracts with European countries, Russia, Spain, and Italy, for exploration of Iranian oilfields and development of oil and gas projects.
OPEC Chief Calls for Global Cooperation
OPEC Secretary General, Abdullah al-Badri, has called on all oil-producing countries to cooperate in attempts to tackle oil oversupply and remedy global oil price slide, while allowing new investments to pour into the industry. Al-Badri has blamed non-OPEC countries for the global oil glut.
Islamic State Threatens Attacks on Five Oil Ports in Libya
Islamic State in Libya has destroyed oil storage tanks at Ras Lanuf port and threatens to attack other oil ports in the country mentioning Brega, Tobruk, Es Serir, Jallo, and Al-Kufra.
IMF: Mozambique as Africa’s Largest Gas Economy by 2028
Mozambique's natural gas reserves discovered in 2010 could contribute to making the country one of Africa's largest economies by 2028, when its gas production is to reach its peak, according to the International Monetary Fund (IMF).
Moody’s Reviews Oil and Gas Companies for Potential Downgrade
Moody's, the ratings agency announced that it had put 120 oil and gas companies, together with 55 mining companies, under review for a potential downgrade, due to a prolonged slump in crude oil price. The review is expected to be completed by the end of Q1.
India to Boost Africa’s Oil Imports
India seeks to expand its oil ties with African nations in order to lock in supplies at the time of low oil prices to be able to meet country's future demand.
Iran Marks First Crude Sale to Europe, Signs Deal with Greece
National Iranian Oil Company (NIOC) and Greek's largest refinery, Hellenic Petroleum (ELPE) have reached a long-term agreement to immediately start the shipment of Iranian oil to Greece, marking the first sale of Islamic Republic's crude to Europe, following the lifting of sanctions.
