News / International
Saudi’s Acwa to Fund Dayrut Power Plant
Saudi Arabian company Acwa Power agreed with three international institutions to fund the power plant of Dayrut city in Beheira, Egypt. The project is expected to generate 2,250 MW of energy, with investments of $2.1b.
Saudi Arabia, Russia, Qatar, Venezuela Agree to Freeze Oil Output
Saudi Arabia and Russia said they would halt oil production as long as other major producers followed suit. Saudi Arabia, Qatar, Kuwait, and Venezuela, all OPEC members joined them in the production freeze.
Shell Expects Oil, Gas Output in Brazil to Quadruple by 2020
Royal Dutch Shell, Europe's largest oil company, expects to make robust investments in Brazil's offshore resources, hoping to quadruple oil and gas output of the country by 2020, while predicting that oil prices would rebound this year to levels that would allow production in Brazil’s ultra deepwater fields to break even.
Angola Seeks Tackling Oil Price Decline, Food Scarcity
The government of Angola will adopt a set of measures to respond to the emerging crisis in the country resulting from the sharp drop in oil prices resulting in scarce and more expensive food resources.
Libya Intercepts Suspected Smuggling Tanker Heading To Malta
Libya's Coast Guard has intercepted a tanker suspected of involvement in fuel smuggling operations while in waters off the country's western region and headed for Malta.
Jordan, Algeria in Talks over Energy Cooperation, LNG Imports
Jordan and Algeria discuss bilateral energy cooperation and prospects for importing liquefied natural gas from the North African nation.
Ghana Striving for Economic Recovery Seeking Oil Output Boost
Ghana's President, John Dramani Mahama, has projected country’s oil production to hit 0.5mb/d in 2020 by adding oil from recently discovered reservoirs of Greater Jubilee, made by Eni, to the current output of 120,000b/d produced from the Jubilee field.
China Sees Decline in Crude Imports and Fuel Exports
China records crude imports drop over 4.6%, net fuel exports fall by 76% month-on-month in January and gross fuel exports decline by 30% month-on-month.
