Nigerian Vitol Sells 4m Oil Barrel, Supply Glut Eases

• Monday, 6th March 2017
• by

Vitol Group BV is offering to sell Nigerian crude oil from a storage terminal in South Africa in what may be a signal that the global supply glut is beginning to ease, Bloomberg reported. According to Oil Price, Vitol...

Kuwait Oil Exports to China Reached 253,000b/d

• Wednesday, 1st March 2017
• by Editorial Team

Kuwait’s crude oil exports to China in January edged down 1.8% from January 2016 to 1.07m tons, equivalent to around 253,000b/d, Zawya reported based on government data. The Hellenic Shipping News wrote that Kuw...

El Molla in Talks with Chile’s Enap Sipetrol

• Monday, 27th February 2017
• by Dr. Mahinaz El-Baz

The Ministry of Petroleum and Mineral Resources, Tarek El Molla, held talks with the CEO of Chile’s Enap Sipetrol ,Marcelo Tokman, in the presence of  Consul of Chile in Cairo , Regional Director of Enap in Egyp...

NNPC Recorded $2.45b Crude Oil Export in 2016

• Tuesday, 21st February 2017
• by Sarah Samir

The Nigerian National Petroleum Corporation (NNPC) recorded $2.45b crude oil export sales in 2016. NNPC’s monthly Financial and Operations Report indicated a 13.4% rise in oil and gas sales from November 2016 to...

Iran Discovered Its First Shale Oil

• Monday, 20th February 2017
• by Editorial Team

Iran has discovered its first shale oil reserve containing over 2b barrels of light crude. The deposit is located in the western province of Lorestan, Neftegaz reported. According to the National Iranian Oil Company’s...

Saudia Arabia Lost South Korea’s Market Share to Iran

• Thursday, 16th February 2017
• by Editorial Team

Figures show that Saudi Arabia has lost a significant share of South Korea’s oil market to Iran, Press TV reported. According to Oil Price, South Korea doubled its imports of Iranian crude in January, when Iran return...

GPC to Produce 6,000b/d of Crude Oil in 2017

• Monday, 13th February 2017
• by Dr. Mahinaz El-Baz

The General Petroleum Company’s (GPC) Production Manager, Ahmed El Gedawy, stated to Egypt Oil&Gas that the company has set a new plan to raise its production rate during 2017. GPC is seeking to reach nearly...

Kuwait Doubles Crude Oil Storage in Egypt

• Wednesday, 1st February 2017
• by Sarah Samir

Egyptian Media reported that Kuwaiti sources stated that Kuwait doubled the monthly amounts of crude oil to be stored in Egypt to 4m b/m. The sources explained that the Kuwait Petroleum Corporation renewed its storing...

Kachikwu: Nigeria to Produce 3mb/d of Crude

• Wednesday, 1st February 2017
• by Dr. Mahinaz El-Baz

Nigeria’s Minister of State Petroleum Resources, Ibe Kachikwu, said that the country is capable of producing 3mb/d of crude from the Niger Delta region. In line with that, he also added: “It is important we cont...

Nigeria Produced 1.782mb/d of Oil

• Wednesday, 11th January 2017
• by Editorial Team

Nigeria is said to have returned back to the position of Africa’s top oil producer after Angola took over in March 2016, Nigerian Bulletin reported. As reported by secondary sources in the  December 2016 Monthly...