News / International
India to Spend all $4.5b Budgeted for Petroleum Subsidies despite Oil Plunge
India is likely to spend all of its $4.5b originally earmarked for petroleum subsidies for the year through March, despite having budgeted for $70 a barrel rude that now costs around $30.
India’s Paradip Refinery to Produce Euro VI Fuel by 2020
State-run Indian Oil Corp (IOC) aims to invest $600m in upgrading its newest Paradip refinery in the eastern state of Odisha to start producing road vehicle fuels compliant with Euro VI emission standards by April 2020, four years earlier than initially planned.
Bahrain Amends Petrol Prices First Time in 33 Years
The Bahraini cabinet has just approved an amended price of petrol sales following the recommendations from the Executive Committee, as outlined in a memorandum submitted to Cabinet by the National Oil and Gas Authority (NOGA).
UAE, Chinese Joint Venture to Market Solar Power Tech
Nanjing-based photovoltaic (PV) manufacturer, China Sunergy (CSUN), has signed a deal with the UAE’s Z-One Holding to establish a joint venture company, CSUN Solar MEA FZC, that will sell a full range of solar products and solutions in the Middle East and Africa.
Chevron, PetroChina Start Sour Gas Production in Sichuan Basin
Chevron Corp. and PetroChina Co. began long delayed gas production from the Luojiazhai onshore field in China’s southwestern regions of Sichuan and Chongqing, at the end of 2015, with an annual production capacity of 3bcm of gas.
Nigeria May Take Greater Debt as Oil Price Slides
Nigeria may have to take greater debt to meet its yearly budget, amid an increasingly low oil price which is crucial for government revenues.
Uganda’s Umeme to Expand Customer Base in 2016
Ugandan power distributor, Umeme, expects to expand its customer base from the current 790,000 customers to 1m in 2016, with projected investments of between $80m and $120m.
Gas Explosion in Nigeria Leads to Increased Safety Regulations
In response to the Nweni gas explosion on December 25th, which killed a number of people, the Nigerian government is instituting new safety regulations.
