News / International
Nigeria Seeks Capital for Drilling Projects, Debt Repayment
Nigeria is in talks with oil majors and banks to raise capital for new drilling projects as most recent statistics have indicated that the country has seen a loss in oil capital of up to $1.34b in 2015.
Saudi to Secure Egypt’s Fuel Needs for Next 3 Months
Egypt and Saudi Arabia have reached a deal to supply Egypt with a monthly 800,000 tons of petroleum products for three months starting from February 2016.
Iran’s Oil Industry Is in Need of $200b in Investments
Iran's Ministry of Petroleum stated that the country's oil industry is in need of $200b in investments in the upstream and downstream sectors as the domestic fund are insufficient.
Russia, Iran, Azerbaijan to Establish North-South Energy Corridor
Azerbaijan, Iran, and Russia agreed to establish a North-South energy corridor, linking the three countries and exporting electricity from Moscow to Baku and Tehran.
Iran Produces New Rare Gas Product Pentane
Iran has produced a new strategic and rare gas product called pentane, as the first country in the MENA region, having developed the new technology, Iranian Offshore Oil Company (IOOC) announced.
Oman Extends BP’s Khazzan Gas Field Agreement
Global oil giant BP has signed a deal with the Omani government and the state-owned Oman Oil company to develop the second phase of the Khazzan gas field project in the license area of Block 61, extended under the amended exploration and production sharing agreement until 2017.
Iran Sets $200b Investment Target for Oil Sector
Iran’s oil and gas sector needs an injection of $200b worth of investments, according to Iran’s Minister of Petroleum, Bijan Zangeneh, stated. $130b is required for upstream, while the remainder is needed for processing facilities.
Mozambique Received over $8b in Investments from India
India says it has invested more than $8b in Mozambique in recent years, a figure that represents about 25% of the Asian country’s investment in Africa.
