News / International
Fieldwood Energy Signs Deal for Offshore Exploration in Mexico
Fieldwood Energy has signed a production sharing contract with Petrobal for two year offshore appraisal projects at Bay of Campeche in the Gulf of Mexico, which has estimated reserves of 68m barrels of light crude oil and 92bcf of natural gas in deep waters.
ADNIC Renews Regional Insurance Services to Schlumberger
Abu Dhabi National Insurance Company (ADNIC) has renewed its Memorandum of Understanding (MoU) with Schlumberger Group to continue providing insurance and reinsurance coverage for the company's regional oil and gas operations.
Iran to Build Spanish Refinery for Post-Sanction Export Push
Iran is in talks to help build a 200,000 b/d refinery in Spain, as part of Tehran's long-term strategy to maximize its oil market share after the removal of sanctions.
Turkmenistan to Set up National Oil and Gas Company
Turkmenistan's President, Gurbanguly Berdimuhamadov, has signed a decree to establish Turkmen National Oil and Gas Company (NAPECCO) in accordance with the country's Development Program for the industry until 2030.
Crude Oil Prices Decline over China’s Economic Slowdown
Global crude oil prices continue dropping to record low, with Brent down at $32.62 per barrel and US West Texas Intermediate (WTI) as low as $32.36, amid China's emerging economic slowdown and continuous overproduction of crude, which shatters hopes for market recovery in 2016.
Nigeria Considering Currency Devaluation
Nigerian authorities are under increasing pressure to devalue the national currency, the naira, as oil prices have declined.
Islamic State Attacks Libyan Electricity Plant
Islamic State has attacked one of Benghazi’s major electricity generation plants in a recent series of violent assaults on Libya's energy industry.
Iraq Resumes Oil Transfers to Turkish Port City of Ceyhan
Iraq's state-run North Oil Company (NOC) has confirmed that a technical fault with the pipeline that transfers oil from northern Iraq to the Turkish port city of Ceyhan was recently fixed, allowing for crude exports to resume.
