crude | Egypt Oil & Gas - Part 3
IMF Cuts Nigeria’s Growth Forecast to 2.3% in 2016
The International Monetary Fund (IMF) cuts again its growth forecast for Nigeria as the oil exporter faces "substantial challenges" due to low crude prices.
Venezuela Faces $5.2b in Debt Repayment in 2016
Venezuela's state-run firm PDVSA faces around $5.2b in payments to bondholders in 2016, a sum that some experts say it will be hard-pressed to meet after the government used nearly all of its available cash reserves ...
Nigeria’s National Oil Company Announces $1.3b in Losses
NNPC, the state oil company in Nigeria, Africa’s biggest producer of crude, made a $1.34b loss for 2015, dragged down by its refining division.
China Oil Product Exports On the Rise
China's oil product exports increased to the level of between 68 % to 77 % in November, compared to the previous month, over a bleak domestic demand for refined products.
China Edging Back to Iran’s Crude
Iran is taking steps to ramp up oil exports by 500,000bd ahead of the end of international sanctions, and to extend its crude contracts with Chinese buyers in 2016.
IEA says Saudi Arabia, Russia Losing Out to Iraq and Iran
The International Energy Agency cited market sources on Friday as saying Tehran would be able to sell at least an extra 400,000 b/d to buyers in Asia and Europe when the sanctions are lifted.
Greens Celebrate as US Kills Keystone XL Pipeline Project
The United States government has finally rejected the controversial Keystone XL pipeline project, which was intended to ship crude oil from the Alberta oil sands of Canada down to the southern coast of the US.
South Africa to Discuss Oil Refinery with Iran
South Africa is considering building an oil refinery that will process Iranian crude to bolster its petrol supply and reduce its dependence on foreign companies.
