News / International
$600 Million Omani Oilfield Contract Renewed with Indonesia’s MedcoEnergi
The Petroleum Development Oman (PDO) has signed a $600 million pact with Indonesia-based oil and gas leader MedcoEnergi to continue developing the Karim Small Fields (KSF) project in southern Oman, a report said.
Gasoline Med/NWE Spread Reaches a High on North Africa Demand
The gasoline Med/NWE spread -- the differential between the FOB Med gasoline cargo assessment and the FOB Northwest European Eurobob gasoline barges -- reached a five-week high Monday as North African demand helped strengthen Mediterranean gasoline while the NWE physical weakened on the back of marginal arbitrage opportunities.
IMF Forecasts Lower Prices to Hurt Africa’s Oil producers
Lower oil prices will reduce growth in sub-Saharan Africa's major petroleum producing countries and push governments to implement significant policy adjustments, the International Monetary Fund said on Tuesday.
Kosmos Energy Announces Gas Discovery in Mauritania block
Kosmos Energy announced a play-opening discovery off the coast of Mauritania after testing the Torture West prospect, according to a company press release. The independent oil and gas exploration firm confirmed taht the Tortue-1 exploration well in Blacok C-8 off the coasat of Mauritania found gas resources.
Total´s Write-Off in Libya Oilfield Adds Pressure on Other Firms
Libya’s civil war is starting to force European oil companies to write off assets in North Africa as militias attack oil fields and terminals. Italy’s Eni Posts Better Than Expected Profits for First Quarter
Eni SpA first-quarter profit beat analyst estimates as improved performance at its refining and gas businesses and a lower tax rate helped Italy’s largest oil company offset lower crude prices.
China to Cut Special Subsidies for Shale Operations
China will cut special government subsidies for shale gas developers in the next five years even as the country encourages explorers to produce more clean energy such as natural gas to replace coal.
North Sea Service Companies Cutting Jobs
Amec Foster Wheeler Plc and Petrofac Ltd on Tuesday joined a growing list of London-listed oil and gas support services companies planning to cut jobs in response to the tumble in oil prices.
