News / International
Al-Qaeda’s North African Branch Claims Attack on Algerian Gas Plant
Al Qaeda in the Islamic Maghreb has claimed responsibility for a recent rocket-propelled grenade attack on an Algerian gas plant operated by Norway's Statoil, UK's BP and Algerian state-run gas company Sonatrach.
Russia Cuts Oil Reserves Estimates 50% to Last Until 2044
Russia will run out of oil by 2044, with production beginning to decline in 2020, according to the Minister of Natural Resources and Environment. According to experts, the volume of proved reserves was cut by 50%, which is about 14b tons, and they will last for only 28 years.
Russia, Morocco Plan to Boost Energy Cooperation
Russia and Morocco are planning to strengthen cooperation in the energy sector, including deliveries of Russian LNG to Morocco, according to a joint statement following talks between Vladimir Putin and King Mohammed VI of Morocco.
Angola LNG to Resume Gas Production in July
Angola's Liquefied Natural Gas Company will resume production in July 2016 after being suspended since April 2014 due to a failure in one of the pipelines of the gas flaring system.
UK Announces Tax Relief for North Sea Oil&Gas Industry
UK Chancellor George Osborne has offered further tax relief for Britain’s oil and gas industry. The tax changes are expected to save the industry around $1.4b in the five financial years from 2016/2017 to 2020/2021.
British Tullow Strikes Oil in Kenya’s Kerio Valley Basin
UK exploration firm Tullow Oil has discovered oil traces in Kerio Valley, raising hopes of boosting Kenya's oil production potential. The firm reported seeing oil traces within a depth of 700-metres while drilling at Cheptuket 1 Well.
China Wasted 20% of Wind Plants Power in 2015
Energy wastage on wind farms in China worsened in 2015, as plunging utilization rates kept 33.9b Wh from being delivered to the grid, the energy regulator said, the equivalent of a fifth of total generated wind power.
Global Oil Producers to Debate Oil Output Freeze in mid April
OPEC and non-OPEC producers - Qatar, Saudi Arabia, Russia, and Venezuela - are expected to hold a meeting in the Qatari capital on April 17th to debate oil output freeze on the January 2016 levels. The meeting is a follow-up on previous negotiations held in February. The involved countries intend to call on other producers to follow suit.
