News / International
Anadarko Announces Resolution of Algeria Tax Dispute
Anadarko Petroleum Corporation announced it has reached an agreement with Sonatrach to resolve the dispute regarding Sonatrach's implementation of Algeria's 2006 exceptional profits tax (TPE). The parties' agreement will become effective upon approval by Algerian government authorities, estimated to occur within the next four months. ABB wins contract from Shell to build power plant in Iraq
ABB, the leading power and automation technology group, has won a $60 million contract from Shell Gas Iraq B.V. to build a new power plant in southern Iraq. Petrobras Confirms Oil at Nordeste de Tupi
Petrobras said Friday that the company's second well drilled in areas acquired from the government in 2010 confirms the discovery of high-quality crude. BG Said to Sell Gas Field Off Gaza After Israel Blocks Project
BG Group Plc, the U.K.'s third- largest oil and gas producer, will sell a gas field off the Gaza Strip after its development was blocked by Israel, according to two people with knowledge of the matter. Saudi Arabia likely to consume 450m barrels of oil for power production
Saudi Arabian consumption of oil for production of electric power in 2012 is likely to touch 450 million barrels of oil equivalent at a cost ranging between SR14-SR18 billion at world prices, reported Al-Riyadh newspaper quoting oil and energy experts. Iraq starts oil exports from new floating facility
Iraq began loading oil from a long-awaited new floating Single Point Mooring (SPM) platform in the Gulf on Thursday, two sources at the state-owned South Oil Company said, in a breakthrough that could substantially boost its exports. Saudi Arabia Appoints New OPEC Governor
DUBAI - Saudi Arabia, the world's largest oil exporter, has appointed Yasser Mufti a new governor for the Organization of Petroleum Exporting Countries. Iraq OKs Statoil sale of oilfield stake
Iraq has approved the sale by Norway's Statoil ASA of its minority stake in a giant oil field to Lukoil OAO, making the Russian firm the sole foreign partner in one of Iraq's biggest new oil projects, two Iraqi oil industry sources said on Wednesday. 
