News / International
Nigeria’s Refineries Start Production to Stabilize Supply
Several of Nigeria's struggling oil refineries are back in production and making enough gasoline to help stabilize supply in the country.
Nigeria Plans to End Gas Flare by 2030
Nigeria has planned to end gas flare in the country by 2030. Minister of Environment has said that Nigeria could generate as much as $7.5b worth of benefits by ending gas flaring and using the gas for commercial purposes.
Islamic State Claims Responsibility for Deadly Attacks in Libya
Islamic State has claimed responsibility for a series of deadly attacks in Libya that targeted police training center in the western city of Zliten killing at least 50 people. The suicide truck bombing followed earlier attacks by IS militants near the Es Sider oil port and a suicide bombing in Ras Lanuf, a major oil port in northern Libya.
Iran Targets Gas Exports for Region, Oil Exports Worldwide
Iran has held negotiations with Georgia about the export of 300-500mcf/d of Iranian natural gas through established channels in Armenia, boosting its profile in the regional market.
Oman Adopts Austerity Budget Boosting Non-Oil Revenues
Oman has adopted an austerity budget for 2016 with a projected deficit of $8.6b in order to tackle the 50% decline in state revenue by introducing economic diversification, increasing non-oil revenues, and encouraging private sector investments.
Saudi Arabia Confirms Airports Privatization in Cash Crunch
Saudi Arabia’s civil aviation authority announced that it would privatize Jeddah and Dammam airports in Q2 and Q3 of 2017, respectively, in line with previously publicized plans to bolster state finances strained under the sustained slump in oil prices.
Japanese Buyer Renews Commitments to Iranian Crude
JX Nippon Oil & Energy Corp., a crude oil lifter, has renewed its annual term oil purchase volumes from Tehran for 2016, with the volumes remaining unchanged under the new contract as of January.
Kuwait Drilling and Honghua Group Struck $25m Deal
Chinese-based land drilling rig manufacturer, Honghua Group (HH), has entered into a $25m sales agreement for ultra-deep drilling rigs with Kuwait Drilling Company (KDC).
