News / International
Shell to Make Iraq Top Petrochem Producer
Royal Dutch Shell (RDSa.L) has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said
Lekoil Studies Otakikpo Oil Reserves Offshore Nigeria
LAGOS, Nigeria – Lekoil (AIM: LEK) has received an addendum to the Competent Persons Report on the Otakikpo marginal field by AGR TRACS International Ltd. The revision considers the approval by the Nigerian Ministry of Petroleum of the planned recompletions of the 002 and 003 wells in OML 11.
Genel Energy Scratches off Malta, Angola, Morocco Programs
Genel Energy says it will pull out of its drilling programs offshore Malta, Angola, and Morocco and record a non-cash exploration write-off of around $480 million in its 2014 accounts.
Gazprom Moving Ahead with Turkey Pipeline Agreement
A meeting between the head of Gazprom and the Turkish government has approved the proposed route of the new Russia-Turkey pipeline via the Black Sea
Disputed Kurdish Tanker Leaves Texas
More Kurdish oil will probably head to the U.S. even as a tanker carrying 1 million barrels of disputed crude returns to the Mediterranean Sea six months and $60 million less valuable after anchoring off Texas.
Arawak Halts MENA Cooperation Agreement with Gulfsands
Gulfsands Petroleum plc has provided an update with respect to its relationship with Arawak Energy International Ltd. concerning their strategic cooperation agreement for the acquisition and development of new business opportunities in the Middle East and North Africa (MENA) region, along with a $20 million convertible loan facility that was announced Nov. 19, 2014.
Iran Upping Gas Exports
Iran exported over 9.575 million tons of gas condensates, worth $8.65b, in the nine months of the calendar year (started March 21, 2014), said an official.
Iran Scales Back Development Fund
“The share of National Development Fund of Iran (NDFI) from oil [revenues] has been reduced to 20%,” Mohammad Mehdi Mofateh, spokesman for the parliament (Majlis) Ad Hoc Budget Review Committee, said on Tuesday.
