crude | Egypt Oil & Gas - Part 3
Kenya to Construct New Mombasa Oil Terminal
Kenya Ports Authority (KPA) is set to start construction work for a new oil terminal in Mombasa from October 2016 to December 2019, and the state agency published a notice inviting bidders to apply for the project bef...
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. In its annual review of Nigeria’s economic...
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 rese...
Nigeria’s National Oil Company Announces $1.3b in Losses
The Nigerian National Petroleum Corporation (NNPC), Nigeria’s state oil company and Africa’s largest producer of crude, made a $1.34b loss in 2015, dragged down by its refining division, WorldOil reported. “The ...
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, Platts and Bloomberg reported citing the...
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, sources involved in the bilateral talks told Reuters...
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, reported Trade Arabia. Cu...
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, reporte...
