News / International
Iran Prepared for All Eventualities of Oil Export Resumption
Iran’s Oil Minister, Bijan Zangeneh, has downplayed fears that the return of Iranian crude will further dampen oil prices, saying confidently that “we have vaccinated the market against this issue,” reported Press TV.
Brazil’s Oil Union Strikes over Asset Sales, Slashed Investments
Brazil's oil-workers' union began a strike on November 1, protesting asset sales and cuts in investment on the part of Petroleo Brasileiro SA, the nation's state-owned oil company, which is seeking to reduce its enormous debt load, according to Bloomberg.
Ecuador Seeking ‘Friendly’ Resolution to Occidental Dispute
Ecuador's President Rafael Correa said on Saturday that his country is in 'friendly' negotiations with Occidental Petroleum Corporation over the payment of a $1.77b award the Latin American nation was ordered to pay for seizing the US-based company's assets in 2006, reports Reuters.
Bernstein Predicts New Global Cycle of Mergers & Acquisitions
Analysts Sanford C. Bernstein & Co. have predicted a rise in mergers and acquisitions over the coming year, with a possible recovery in crude prices to follow, reports BloombergBusiness.
Sadara Moves Ahead with Petrochemical Strategy
Saudi Arabia's Sadara Basic Services has signed agreements covering storage facilities and port services in preparation for its petrochemicals production strategy, that will begin by the end of this year, reported Reuters.
Israeli PM Meets Italy’s Eni to Discuss Regional Cooperation
Italian energy giant Eni issued a press release on the recent meeting held in Jerusalem between its CEO, Claudio Descalzi, and the Israeli Prime Minister, Benjamin Netanyahu, and the Infrastructure, Energy and Water Minister, Yuval Steinitz.
Islamic State Selling Oil “Through Turkey”
The Islamic State (IS) is selling most of its illegally acquired oil through Turkey and Kurdish areas, according to a former counterterrorism officer with the Central Intelligence Agency, reported Russia Today.
Stiff Sentences for Nigerian Fuel Smugglers
Nigeria’s Economic and Financial Crimes Commission (EFCC) has announced that seven men have been jailed for 10 years after being arrested with nearly 1,500 tonnes of contraband petrol, the Business Standard reported.
