OIL AND GAS

March 21, 2019

Nigeria to sell stakes in joint oil assets with multinational oil companies

In the bid to boost revenue to grow an economy recovering from recession, Nigeria’s budget minister, Udoma Udo Udoma said the country plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year.

Oil"...

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March 21, 2019

ADNOC wins MEED 'Oil and Gas Project of the Year' award

ABU DHABI, 20th March, 2019 (WAM) -- The Abu Dhabi National Oil Company, ADNOC, has won the 'Oil and Gas Project of the Year' accolade at the 2019 MEED Projects Awards.

The award was presented to ADNOC"...

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March 20, 2019

NOC head: Refunctioning of Sharara field boosts Libyan oil production by third

The head of the National Oil Corporation (NOC), Mustafa Sanallah said that Libya has boosted its oil outputs by one third after resuming production at Sharara oilfield, clarifying that production operations currently amount to one million and 200 thousand barrels per day.

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March 20, 2019

GECOL to connect Ubari Gas Station to the electrical grid in coming days

An official at Ubari Gas Station confirmed Tuesday, that the operational tests carried out by the engineers of the General Electricity Company of Libya (GECOL) have been conducted successfully, noting that the station will probably be ready to go into service in the next few days.

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March 20, 2019

UAE inaugurates three major projects under US$50 million Caribbean Renewable Energy Fund

ABU DHABI, 19th March, 2019 (WAM) -- Three climate-resilient solar power projects in the Bahamas, Barbados, and Saint Vincent and the Grenadines are being inaugurated this week under the US$50 million UAE-Caribbean Renewable Energy Fund, UAE-CREF.

The"...

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March 20, 2019

ExxonMobil Provides $300,000 to Support Relief Efforts in Mozambique Following Cyclone Idai

(AETOS Wire)-- ExxonMobil said today that it is providing $300,000 to aid agencies to support disaster relief and recovery efforts in Mozambique following Cyclone Idai, which made landfall on March 14. Of this amount, $250,000 will be contributed to the American Red Cross for ongoing rescue efforts and for food, shelter and comfort for the storm’s victims. ExxonMobil’s affiliate ExxonMobil Moçambique Limitada will contribute another $50,000 to organizations operating in Mozambique that are assisting the government with disaster relief efforts. “We are deeply saddened by the impact of Cyclone Idai on Mozambique and surrounding......

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March 19, 2019

Middle East Oil and Gas Show and Exhibition opens

Manama, Mar. 18(BNA): H.R.H. Prince Khalifa bin Salman Al Khalifa, Prime Minister nominated H.E. Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister to inaugurate the 21st Middle East Oil & Gas Show and Conference (MEOS 2019) in the Bahrain International Exhibition and Convention"...

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March 18, 2019

South Africa hit by more power cuts as electricity imports from Mozambique face disruption

South African state utility Eskom stepped up blackouts on Saturday as it lost 900 megawatts of electricity imports from neighbouring Mozambique, which was hit this week by a cyclone.

Eskom, which generates nearly"...

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March 13, 2019

Sharara oilfield production set to increase in two weeks time

A source from the Sharara oilfield said that production in the field is expected to reach 300 thousand barrels per day in two weeks, according to Reuters. The production rate currently, stands at 183 thousand barrels per day, an increase of 3,000 barrels per day from the beginning of the week, the source added, pointing out that maintenance work in the field is still ongoing, following the lifting of the status of force majeure, which was imposed by the National Oil Corporation last December. libyaobserver ...

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March 13, 2019

Kuwait backs efforts to stabilize oil market

Kuwait supports international efforts aimed at restoring balance and stability to the global oil market in a manner that serves common interests of crude exporting and importing countries, a senior official has affirmed.

It"...

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