prices | Egypt Oil & Gas - Part 5
China’s Offshore Corp. Records 66% Profit Drop in 2015
China National Offshore Oil Corporation (CNOOC), the country's largest offshore oil and natural gas developer, announced that its 2015 net profit slumped 66.4% due to lower oil prices.
US Oil, Gas Companies Record Further LayOffs
As the oil and gas industry continues to struggle with the prolonged low oil price environment, more companies in the United Stated are announcing layoffs.
LatAm Oil Producers Meeting Postponed
A key meeting between Latin American oil producers and exporters planned to unify the region in backing an output freeze or other measures to bolster prices, has been postponed due to scheduling difficulties.
Nigeria Backs Oil Output Freeze
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their market share lost due to sanctions and war.
Africa’s PetroCurrencies Hit by Low Oil Prices
Africa's petrocurrencies have been hit by low oil prices, plaguing economies of Angola, Nigeria, and Algeria, most notably. Angola’s currency fell to an all-time low, Nigeria has imposed strict capital controls, and ...
Nigeria to Reduce Petrol Price in 2016
Nigeria will reduce gasoline costs and scrap a fuel subsidy under a pricing mechanism to come into effect from January.
Adnoc’s LPG Cylinder Prices on the Rise
The UAE's Adnoc Distribution announced its new retail price of unsubsidized LPG cylinders last week, rising to$12.5 per 25lb cylinder.
UAE’s Fuel Prices and Petrochems Move in Opposite Directions
The UAE ministry of energy announced it will again lower domestic prices for gasoline and diesel in December.
Russia May Raise Oil Taxes
The Russian government, facing budget deficits due to low oil prices, may restructure taxes on crude to make up for the shortfall, BloombergPage 5 of 8
