News / International
BP Declares Force Majeure on Angolan Oil Project
BP has declared force majeure on oil output from an Angolan oil project which provides almost 10 percent of the OPEC member's exports after a power loss.
Oman Optimizing Costs to Tackle Oil Price Plunge
Oil producers in Oman, including majority state-owned Petroleum Development Oman (PDO), are resorting to cost-cutting measures in view of the plunging crude prices in the international market.
Japan-Saudi Petrochem Complex Secures Finances for Expansion
Saudi Arabia's PetroRabigh, a joint venture between Saudi Aramco and Sumitomo Chemical, has signed loans worth 19.4 billion riyals ($5.2 billion) for the expansion of its petrochemicals complex, it said on Tuesday.
Lukoil Iraq Production Up Inspite of Oil Price Slump
The Russian company says it received a letter from Iraqi authorities to reduce cost in West Qurna-2 field due to slump in oil prices
Oil Sales to Go Through Eastern Firm says Libya’s Recognised Government
Libya's internationally recognised government said on Tuesday that any sales of the country's oil should be arranged through a state firm based in Benghazi under its leadership to prevent fraud.
Iran Keen to Exploit Rift Between Senate and US Oil Companies
The US oil companies taking position against Republican senators who recently wrote a letter warning Iran against a nuclear deal with the US will be rewarded, a senior Iranian oil official says.
Oil Prices Prompt North Sea Operators to Sell Off Assets
The North Sea, which brought upheaval to global oil markets in the 1980s just as shale has in this decade, is desperately seeking tax relief in Wednesday’s British budget.
Bank Oil Swap Gives Goudron Go Ahead to Update Field Development Plan
LGO Energy has announced that its wholly owned subsidiary, Goudron E&P Limited, has now drawn an initial $11.78 million from the $25 million pre-paid oil swap facility agreement with BNP Paribas to fully fund the planned 2015 development drilling programme in the Goudron Field onshore Trinidad.
