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OMV does not expect a cash call from Nord Stream 2 until the end of the year

OMV is confident that Gazprom-owned Nord Stream 2 won’t be making any more cash calls until the end of the current year. OMV has already settled the first €200 million portion of its funding obligation for the construction of the 55 bcm/year pipeline from Russia to Germany.

read more... 15/08/2017

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Egypt: LNG imports will be reduced to 80 cargoes in 2017-18 year

Egypt intends to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that started in July, as stated by Petroleum Minister Tarek El Molla on Sunday, or down from the 118 cargoes imported in 2016.

read more... 14/08/2017

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OPEC fails to reduce oil production, registers highest output of the year

OPEC oil output for July skyrocketed by 173,000 barrels a day to almost 32.9 million barrels, which once again proves that major oil producers can’t keep up with their plan to pump less oil.

read more... 11/08/2017

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Libyan Sharara oil field shuts down gradually after closure of a control room in Zawiya

Sharara oil field in Lybia, which had a production of 270,000 barrels a day (bpd), is gradually closing after the closure of a control room in the northern city of Zawiya, as stated by an engineer at the field late on Sunday.

read more... 07/08/2017

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Shell puts forward plans for the development of South Azadegan and Yadavaran oil fields

Succeeding the signing of the Memorandum of Understanding in December last year, Shell advanced its plans for the construction of the South Azadegan and Yadavaran oilfields.

read more... 03/08/2017

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