News / International
Iran Offers Discounted Prices of Crude to Europe
Iran has revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle East country. Iran Heavy, one of the country’s main export grades, will cost $1.25 a barrel, which is less than Saudi Arabia’s most similar crude.
Iran Plans to Scale up Oil Production by 700,000b/d
Iran plans to scale up its oil production by 700,000b/d in the near future, according to the Iranian Deputy Oil Minister, Rokneddin Javadi.
Turkmenistan Develops Oil&Gas Basins in the Caspian Sea
Turkmenneft, Turkmenistan’s state concern starts implementation of plans on the development of the Turkmen sector of the Caspian Sea, the Oil and Gas Ministry said.
Shell CEO: Petrobras Should Cede Stakes to Foreign Firms
Brazil's state-run oil giant Petrobras should cede some of its drilling rights to foreign companies, the Royal Dutch Shell CEO, Ben van Beurden, said. The Brazilian government was reported to be considering these changes in an effort to take some debt pressure off Petrobras.
Iraq, Iran to Hold Talks on Gas Pipeline Deal
Baghdad and Tehran agreed to hold talks about a gas pipeline deal between the two countries to execute 25mcm of gas shipment to Iraq.
Shell Nigeria Intensifies Oil Spill Recovery Efforts at Forcados
The Shell Petroleum Development Company of Nigeria Limited (SPDC) is intensifying efforts to recover from oil spill at the Forcados Terminal export pipeline that occurred on 14th February.
Nigerian President Rejects Currency Devaluation
Nigeria's President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per $1 in mid February.
Russia, Venezuela Develop Three New Offshore Gas Fields
Russia's top oil producer Rosneft and Venezuela's state oil company PDVSA signed an agreement to set up a joint venture to develop natural gas. Rosneft also plans to invest $500m to raise its stake in its Petromonagas joint venture with PDVSA.
