News / International
Nigerian State Oil Company to Hold IPO by 2018
Nigeria is planning an initial public offering for assets owned by its national oil company, the Nigerian National Petroleum Corporation (NNPC), by 2018, according to Nigerian Minister of Petroleum Resources, Emmanuel Kachikwu.
Brazilian Petrobras Slashes Production, Capital, Investment Plans
Brazil's state-run oil producer, Petróleo Brasileiro SA (Petrobras), has slashed its production targets by 1.8% to 2.1mb/d and capital spending budget by 24.5% to $98.4m in the period between 2015-2019.
Saudi Arabia to Invest $109b in 54 GW of Renewable Energy
Saudi Arabia plans to spend $109b to install 54 GW of renewable energy by 2040, aiming to diversify the Kingdom's energy profile and preempt energy demand expected to rise 45% in this period of time.
US Shale Oil Production Declining
The decline of US shale oil production is to continue with a projected drop of 116,000b/d in February, adding to an overall decline of about 640,000b/d since the production peak in March 2015.
UAE Denies Nigeria’s Call for Emergency OPEC Meeting
The UAE has denied claims made earlier by Nigerian Petroleum Minister that an emergency meeting of OPEC was in order to discuss the current oil pricing policy amid a 12-year low drop of oil prices to $30.
Oman Takes Long-Awaited Fuel Price Reforms
Oman has announced it will rise gasoline prices as of mid January. The move has been ascribed to the impact of persistently low oil prices.
Riyadh’s Oil Outputs to Impact Global Economy, Not Aramco IPOs
Saudi Arabia’s oil production levels will be far more significant to the global economy than Aramco's plans for the initial public offerings (IPOs) selling shares in its upstream and downstream facilities, according to an ex-US official.
EU Expects Nuclear Sanctions on Iran Lifted Soon
The EU expects sanctions on the Islamic Republic to be lifted shortly as Iran's efforts to implement the July 2015 nuclear deal are proceeding in line with the terms of the agreement and according to the schedule.
