News / International
Spain’s Repsol Cuts Dividend to Keep Investment Grade
Spain’s largest oil company, Repsol, lowered its dividend after revealing a $2.2b quarterly loss. The group reported a $1.4b net loss for 2015 and it is the third time in less than six months that Repsol has taken steps to prop up its finances and protect its credit rating.
Brazil’s Petrobras Secures $10b in Chinese Loan to Pay Debts
The integrated Brazilian energy company Petrobras has secured a $10b loan from the China Development Bank (CDB) in exchange for supplying petroleum to Chinese companies or to be repaid in cash.
Georgia Negotiating Increase in Azeri Gas Imports
Georgia hopes to reach an agreement with Azerbaijan to increase volumes of Azerbaijani gas imported to the country by additional 400-500mcm/year, Georgia's Energy Minister, Kakha Kaladze, said.
IS-Produced Fuel Allegedly Sold in Europe
Fuel produced by Islamic State is suspected to be sold at gas stations in Bulgaria, while the trade is further aiming for Europe.
Iran, India Negotiate Undersea Gas Pipeline Bypassing Pakistan
Iran and India are expected to sign a long-proposed deal on the construction of an undersea gas pipeline worth $4.5m in total, as an alternative to a similar project via Pakistan.
Venezuela Faces $5.2b in Debt Repayment in 2016
Venezuela's state-run firm PDVSA faces around $5.2b in payments to bondholders in 2016, a sum that some experts say it will be hard-pressed to meet after the government used nearly all of its available cash reserves to pay $1.5b in maturities recently.
Azeri Gas Expected to Reach EU by 2020
The EU has a clear interest to work with Azerbaijan on energy, regional security, the rule of law, and fundamental freedoms, EU High Representative for Foreign Affairs and Security Policy, Federica Mogherini, said.
Nigerian President: Oil Prices ‘Totally Unacceptable’
Nigeria's President Muhammadu Buhari said the OPEC cartel needs to take action to stabilize the oil market because crude prices have fallen down to "totally unacceptable" levels.
