Egypt’s National Oil Companies (NOCs) will repay all debts owed to international partners before the end of 2019, oil minister Tarek El Molla has said. He added that the debt has fallen to $1.2 billion, which is half of NOC debt owed to International Oil Companies (IOCs) in 2010. The Oxford Institute for Energy Studies wrote in
Transportation of crude oil under the Early Oil Pilot Scheme can now resume next week after area leaders allowed Tullow Oil to ferry the resource following a meeting between Turkana elected leaders led by Governor Josphat Nanok and a high powered government delegation led by Petroleum and Mining cabinet secretary John Munyes and Rift Valley
Brazil’s state-run oil company Petróleo Brasileiro SA (PETR4.SA) has lifted restrictions on doing business with certain units of the engineering firm Odebrecht SA [ODBES.UL], Petrobras said in a securities filing on Friday. Petrobras’ board of directors approved the measure at a board meeting on Thursday, the filing said. Odebrecht has been at the center of
Dutch marine engineer SBM Offshore has won a contract to supply a new production vessel for oil major Exxon Mobil in Guyana, setting its shares on track for their biggest gain in nearly two years. Under the terms of the deal, SBM will engineer and design a second floating production, storage and offloading vessel (FPSO)
Energy services company TechnipFMC said it would work alongside Total at a prospect the French supermajor said marked a new chapter offshore Angola. The French services company said it secured an engineering, procurement and construction contract in the deepwater Zinia field offshore Angola, a member of the Organization of Petroleum Exporting Countries. Total leads a
Libya’s National Oil Company said on Friday it expected to halt operations at two key export terminals this weekend, slashing crude output by a total of about 800,000 barrels per day (bpd). The announcement came after Libya’s unity government on Tuesday urged the UN to block any “illegal” oil exports from the chaos-hit country after
Brazil’s state-controlled oil company Petroleo Brasileiro may extend the deadline for potential bidders for a 60 percent stake in four refineries to sign non-disclosure agreements, a person with knowledge of the matter said. A ruling from Supreme Court Justice Ricardo Lewandowski this week requiring Congress to approve all sales programs of state-controlled companies threw up
The Angola National Society of Fuels (Sonangol) estimates today in 3.1 billion dollars the debts contracted in 2017 by the public and private sectors. Only the State owes US $ 747 million as a result of fuel price subsidies, reported Sonangol sources during the First Expanded Consultative Council of the Ministry of Mineral Resources and
Petrofac has secured a new award and a number of contract extensions, with a combined value of more than US$110 million, for construction management, engineering, commissioning and start-up services for international oil company clients in Iraq. Petrofac has been active in Iraq since 2010 and has developed a significant track record in delivering a range of
The oil ministry has started the project that aims to connect more houses to the national gas grid, Egypt Oil & Gas reports. The Egyptian Natural Gas Holding Company (EGAS) organized a workshop for the project’s team on June 25. The current phase of the project focuses on the technological aspect of the project including