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OPEC Extends Oil Output Cut by Nine Months to Fight Glut
Austria >> 5/25/2017 - OPEC decided to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in...
Kuwait National Petroleum Signs $6.25 bln Loan for Clean Fuels Project
Kuwait >> 5/24/2017 - Kuwait National Petroleum Co (KNPC) has signed a $6.25 billion loan with international lenders to back its planned Clean Fuels project, the company announced. The financing was backed by seven export ...
Andalas Energy & Power Provides Placing, Lifting of Suspension
United Kingdom >> 5/23/2017 - Andalas Energy and Power Plc, the AIM traded Indonesian focused energy company, has conditionally raised £600,000 via a placing (the Placing) of 600,000,000 ordinary shares of nil par value (the ‘Plac...
OPEC Set to Prolong Oil Cuts as Delegates Predict Smooth Meeting
Austria >> 5/23/2017 - OPEC will likely agree to extend production cuts for another nine months, delegates said as the oil producer group meets this week to debate how to tackle a global glut of crude. ...
Odebrecht Oil & Gas Signs Reorganization Plans
Brazil >> 5/23/2017 - Odebrecht Oleo e Gas S.A. (OOG) and certain subsidiaries have entered into an agreement with a group of creditors to restructure their financial debt. This process will occur by means of an extrajudic...
Balance of Supply and Demand in 2017 - May 2017
Balance of Supply and Demand in 2017 - May 2017 Austria >> 5/22/2017 - Demand for OPEC crude in 2017 was revised down by 0.3 mb/d from the previous month, mainly due to the upward revision in non-OPEC supply as world oil demand remained almost unchanged. Within the quart...
Review Strategic Options for Islandmagee Gas Storage Project
United Kingdom >> 5/22/2017 - InfraStrata (INFA) is launching a review of the strategic options open to the Company to maximise value for shareholders. Accordingly, the Company is undertaking a careful evaluation of its business p...
UKOG Placing Triggers Important Next Phase of Weald Basin Activities
United Kingdom >> 5/19/2017 - UK Oil & Gas Investments PLC (UKOG) has raised gross proceeds of £6.5 million through the placing of 12,500,000 new ordinary shares in the Company (New Shares) at 0.8 pence per New Share largely with ...
Dana Gas Receives Partial Payment of $50M from the Egyptian Government
United Arab Emirates >> 5/18/2017 - Dana Gas has received an initial payment of US$ 50 million (AED 184 million) from the Egyptian Government as partial payment of its outstanding receivables. ...
Riverstone Holdings & JOG Capital Lead C$305 Million Financing Round
Canada >> 5/17/2017 - Vesta Energy Corp. (Vesta) has entered into definitive agreements with respect to a C$295 million equity financing round (the "Transaction") priced at C$4.50/share, co-led by energy private equity fir...
Egypt Will Make $750m Debt Payment to Oil Companies on June 1
Egypt Will Make $750m Debt Payment to Oil Companies on June 1 Egypt >> 5/16/2017 - Egypt will make a debt payment of $750 million to international oil companies on June 1, Central Bank Governor Tarek Amer said on Tuesday. Egypt has outstanding dues of about $3.5 billion to internati...
EIA Projects Increase in OPEC Net Oil Export Revenues in 2017
United States >> 5/15/2017 - For 2016, the U.S. Energy Information Administration (EIA) estimates that members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 billion in net oil export revenues (...
Puerto La Cruz Refinery Conversion to Receive New Financing from Hyundai
Venezuela >> 5/15/2017 - The president of Petroleos de Venezuela, SA (PDVSA), Eulogio Del Pino, received a high-level delegation from Hyundai Engineering & Construction, the main contractor for the Deep Conversion Project at ...
French Co. Positive About Prospects in Iran
Iran >> 5/13/2017 - An official at the French industrial conglomerate Groupe NOX said Iran’s nuclear deal with world powers which took effect last year has improved the prospects for financial and trade ties between Iran...
Odebrecht O&G Nears $5B Debt Restructuring Deal
Brazil >> 5/12/2017 - Odebrecht Oleo & Gas SA, the offshore oil drilling firm owned by Brazil's Odebrecht SA, has obtained support from more than 60 percent of its creditors for a restructuring of about $5 billion in debt,...
Turkmenistan Expected to Join OPEC-Led Oil Supply Cut
Turkmenistan >> 5/11/2017 - Turkmenistan is likely to join an OPEC-led cut in oil supply aimed at supporting prices, sources in OPEC and the industry said, potentially enlarging the output reduction slightly. ...
Balance of Supply and Demand - May 2017
Austria >> 5/11/2017 - Demand for OPEC crude in 2016 stood at 31.8 mb/d, which is 2.0 mb/d higher than the 2015 level. In 2017, the demand for OPEC crude is projected at 31.9 mb/d, around 0.2 mb/d higher than last year. <...
Shell Calls for Wider Crude Slate to Set Brent Benchmark
Iran >> 5/11/2017 - Shell has urged oil pricing agency S&P Global Platts to consider including other regional grades, such as Russian Urals, to set the key crude benchmark dated Brent, its vice president for crude tradin...
EBRD Finances Environmental Upgrade Of Egypt’s Carbon Holdings Company
EBRD Finances Environmental Upgrade Of Egypt’s Carbon Holdings Company Egypt >> 5/11/2017 - As part of its drive to help the Egyptian economy move to more environmentally friendly ways of production, the EBRD is providing local petrochemicals producer Carbon Holdings with a US$ 11 million lo...
DNO Reports Payment for Tawke Deliveries
Iraq >> 5/10/2017 - DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 41.40 million from the Kurdistan Regional Government as payment towards February 2017 crude oil deliveries to the export mark...

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