News / International
Saudi Aramco Modifies Plans to House Workers
Saudi Arabian Oil Co. is seeking partners to help build commercial properties in a 10,000-home project as the state-owned crude exporter takes a direct role in constructing accommodation for its employees.
Rouhani Authorized to Raise Gasoline Prices
The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices.
Iran in Search of Petrochemical Financing
Tens of petrochemical projects in Iran are waiting for finance, a deputy head of the National Petrochemical Company (NPC) says, calling for government’s help.
South Africa To Build Infrastructure for Gas Imports
South Africa plans to build the infrastructure to import natural gas to supply electric turbines as the country deals with a shortage of power, the Department of Energy said.
Afren Ends Negotiations with Nigeria’s Seplat
Afren has broken off talks with Nigeria’s Seplat Petroleum Development Co. concerning a potential merger of the two companies.
Tullow Optimistic About Ghana Project
Tullow Oil was in favour on Monday as optimism rose that the explorer could trade its way out of a cash crunch. Shares in Tullow bounced 3.8 per cent to 420.2p, having warned last week that it may breach a banking covenant in 2016.
Transocean CEO Resigns
Steven Newman is stepping step down as president and CEO of Transocean Ltd., effective Feb. 16. Additionally, he is resigning as a director of Transocean. Until a permanent replacement is named, Ian Strachan, chairman of Transocean’s board, will serve as interim CEO.
Kuwait Adamant on Expanding Production Despite Oil Prices
Kuwait plans to boost its oil and gas drilling rigs by 50% by early 2016 as it seeks to boost crude and gas production despite low oil prices, the head of state-run Kuwait Oil Co (KOC) said.
