News / International
US Oil, Gas Companies Record Further LayOffs
As the oil and gas industry continues to struggle with the prolonged low oil price environment, more companies in the United Stated are announcing layoffs.
Riyadh Cuts Energy, Construction Contracts Spending
Saudi Arabia has ordered its ministries to reduce spending on contracts included in the 2016 state budget by at least 5 % to outbalance Kingdom's declined revenues over global oil prices drop.
Nigeria’s State Oil Company Withheld $16b in 2014
Nigeria's Auditor-General has denounced that Nigerian National Petroleum Corporation (NNPC) withheld $16 billion in revenues from the federal government in 2014.
Libya Witnessed Militants’ Attack on Sarir Oil Field
Suspected Islamic State militants staged an attack on a power and water plant about 80km from the major Sarir oil field in eastern Libya. More than 50% of Libya's remaining oil production comes from Sarir region.
Colombian Rebel Group Attacks Cano Limon Oil Pipeline
Production along Colombia's second most important oil pipeline, the Cano-Limon Covenas, has been suspended following two rebel bomb attacks carried out by National Liberation Army (ELN).
Nigeria to Extend Oil&Gas Exploration In Lake Chad Basin
Nigeria plans to extend oil and gas exploration in new fields in the Lake Chad Basin in the North East and in the coastal states such as Lagos, where oil has been discovered in commercial quantity.
Russia Supports Iran’s Aspiration to Restore Its Oil Market Share
Russia's Energy Minister, Alexander Novak, said that Iran would consider joining a global deal to cap oil production only after it restores its oil output back to levels it enjoyed before international sanctions at 4mb/d.
India’s ONGC Plans $5b Deep Water Investment
India's Oil and Natural Gas Corporation (ONGC) will invest around $5b to develop a major gas asset in the eastern Krishna Godavari (KG) basin, with a higher resulting level of output so that it will become the company's second biggest hydrocarbon asset in the country.
