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, Rigzone informed. Accordin...
US Oil, Gas Companies Record Further LayOffs
US companies announce further layoffs amid prolonged low oil prices, RigZone reported. Traditionally, low oil prices were seen as a boost to US economic growth. Cheap oil had previously helped the country, which used ...
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, Ecuador&...
Nigeria Backs Oil Output Freeze
Nigeria, the biggest oil producer in Africa, has 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, Bloom... 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, Quartz reported. Angola’s economy is in a rough spot, and its currency just hit a recor...
Nigeria to Reduce Petrol Price in 2016
Nigeria, Africa’s biggest oil producer, will reduce gasoline costs and scrap fuel subsidies under a pricing mechanism to come into effect as of January, Petroleum Minister of State, Emmanuel Kachikwu said, Bloomberg r...
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, reported Trade Arabia. Adnoc’s Vice President of Marketing and Corpora...
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, reported Arabian Business. The price of a litre of octane 95 gasoline will drop 1.15% to $0.46 in November,...
