News / International

Nigeria Reconsiders Stakes in Joint Ventures

The Nigerian government should start selling off its stakes in oil joint ventures with foreign partners to ease the funding issues and leakage of cash due to corruption and waste which have impeded the country's bid to increase production, oil industry auditors said Monday.

Qatar Shifting into Renewables to Balance Energy Consumption

Qatar has witnessed unprecedented and sustained growth over the past few years and is considered as the fastest growing power markets in the GCC with extensive utilisation of its natural resources

Less Risk of Dragon Oil not Making ENOC Acquisition, Say Experts

Dragon Oil Plc said it agreed to an increased takeover offer by Emirates National Oil Co (ENOC) after the Dubai-based group increased its offer to buy out the company's minority shareholders.

Turkey Sees No Need to Expand Kurdish Oil Prospects

Turkey does not envisage a new pipeline being built for Kurdish oil from Iraq until an existing pipeline between Kirkuk the Turkish Mediterranean port of Ceyhan is working at capacity, Energy Minister Taner Yildiz said on Monday.

Saudi, UAE to Switch from Importing to Exporting Motor Fuel

Middle Eastern oil producers Saudi Arabia and the United Arab Emirates will sharply cut or even halt costly gasoline imports next year after ramping up new refining capacities that put them a step closer to becoming exporters of the motor fuel.

Iran: No Negotiations with Americans, only European Oil Companies

An Iranian petroleum official says there have been no energy talks between Iran and US companies.

Tropical Disturbance in Gulf Becomes Concern for US Oil Companies

U.S. oil companies were closely watching a large tropical disturbance in the southern Gulf of Mexico, but were not changing operations despite the system's 70 percent chance of developing into a tropical cyclone over the next 48 hours, according the U.S. National Hurricane Center.

Oil Execs Prepare for Russia’s Investment Show Amid Tension from the West

Some of the world's most powerful oil executives will attend Russia's top investment show next week, once again helping the organizers shrug off a meager turnout from other leading Western industrialists and bankers.

Austria Seeks Russian Gas with New Pipeline Idea

Austria's state oil and gas oil and gas company OMV wants to build a pipeline to bring Russian natural gas to Europe which would bypass Ukraine, local media reported Saturday.

UK Gets Involved in Spat Between Guyana, Venezuela Over Oil

British High Commissioner to Guyana, James Gregory Quinn has dismissed Venezuela’s most recent claim on Guyana’s oil rich Essequibo Coast, stating that it lacks solid grounds. Venezuela’s President Nicholas Maduro on May 27 signed a decree that now claims an entire portion of Guyana’s territory into the Atlantic Ocean and includes the Stabroek Block where a significant portion of oil was recently discovered by US oil giant, ExxonMobil.

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