Oil | Egypt Oil & Gas - Part 76
Indonesia Considers Rejoining OPEC as Observer
Indonesia is considering rejoining the Organization of the Petroleum Exporting Countries as an observer after leaving the group six years ago, a minister said Thursday. “We want to have an interaction with the market ...
Dollar Hits a Low as Oil Prices Maintain Upward Trend
The dollar touched its lowest level in 11 weeks and US and European equities remained under pressure as the recent sell-off in government bonds on both sides of the Atlantic showed few signs of abating. The moves came...
Despite Thawed Relations, US Not Lured by Cuba’s Oil
Cuba unveiled new data Wednesday that it said confirmed there were billions of barrels of oil beneath its Gulf of Mexico waters but admitted there was little interest in new exploration, even with the thaw in U.S. rel...
Russia Invites India to Extract Oil, Gas from Arctic Shelf
Moscow plans to invite companies from India to jointly extract oil and gas from Russia’s Arctic shelf deposits, Kremlin aide Yuri Ushakov said Wednesday. “There are plans to attract Indian companies to dev...
Nigeria Slashes 2015 Fuel Subsidy Due to Price Slide
Nigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices. The government had said it would gradually phase out fuel subsidies which are a signifi...
OPEC Production, US Crude Oil Imports Increase
US refiners in the Gulf Coast imported 26.4 MMbbls (million barrels) of crude oil in April 2015—compared to 20.5 MMbbls in March 2015 from Saudi Arabia, according to data from the U.S. Customs and Border Protection. T...
Kenya Seeks to Impose Local Stake in Oil Exploration Firms
Kenya has proposed rules requiring oil exploration firms to give local investors a 5 percent stake and use local suppliers and staff for their services to get a bigger share of earnings from the new sector. East Afric...
Libya’s Hariga Oil Port To Export 7 Million Barrels of Crude in May
Libya’s Hariga oil port plans to export 7 million barrels of crude in May, the state port operator said on Monday. Exports in April were 5.6 million barrels of crude, the operator AGOCO said in a statement. The ...
