09262016Mon
Last update: Mon, 26 Sep 2016 01am

Middle East & Africa

Markets - Energy - Middle East & Africa

Petrobras to seek builders for six new platforms as of next year RIO DE JANEIRO: Petroleo Brasileiro SA, Brazil's state-run oil company, as of 2017 will begin seeking offers for the construction of six new offshore oil platforms envisioned in current investment plans, according to a newspaper interview published Sunday. In an interview with O Globo, the biggest daily in the company's home base of Rio de Janeiro, Petrobras' director of exploration and production said the six new platforms, together likely to cost as much as $6 billion, are among eight rigs planned to enter service by 2021, with bidding for the other two contracts already under way. The new platforms, Solange Guedes said, will come on the heels of another 11 platforms already under construction and expected to enter service through 2019. Petrobras is seeking to ramp up production as part of a five-year, $74.1 billion capital spending plan announced last week. It slashed investments from a prior plan by 25 ...

Markets - Energy - Middle East & Africa

Egypt's FIHC seeking soyoil, sunflower oil in tender - trade ABU DHABI: Egypt's Food Industries Holding Company is seeking 15,000 tonnes of sunflower oil and 30,000 tonnes of soyoil in a tender, Cairo-based traders said on Sunday. The oil is for arrival between Nov. 10-30, the traders said. The deadline for offers is Sept. 29. Copyright Reuters, 2016 ...

Markets - Energy - Middle East & Africa

Egypt petrol subsidy bill down 29 pct in 2015-2016 CAIRO: Egypt's spending on petroleum subsidies dropped by 28.7 percent in the 2015-16 financial year to compared to one year earlier, Petroleum Minister Tarek El Molla said on Sunday, a greater decline than previously announced. Egypt has been trying to wean itself off costly energy subsidies that eat up a large portion of the state budget. Tarek al-Hadidi, head of state oil company EGPC, told Reuters in August that the subsidies had fallen by 23 ...

Markets - Energy - Middle East & Africa

Saudi Arabia crude exports rise to 7.622mn bpd in July ABU DHABI: Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied. The world's largest oil exporter has been maintaining high output levels since mid-2014 despite a global supply glut, in line with a strategy of defending market share against rival producers. Saudi Arabia's crude oil exports in July rose to 7.622 million barrels per day from 7.456 million bpd in June, official ...

Markets - Energy - Middle East & Africa

Libya's NOC calls for end to blockade of western oil pipelines TRIPOLI: Libya's National Oil Corporation (NOC) called on Monday for the reopening of pipelines from major oil fields in the south west of the country. Last week the NOC said it would restart exports from the eastern "Oil Crescent" ports of Es Sider, Ras Lanuf and Zueitina, which were seized on Sept. 11-12 by forces loyal to eastern commander Khalifa Haftar. NOC Chairman Mustafa Sanalla has said he hopes developments at the Oil Crescent ports ...

Markets - Energy - Middle East & Africa

OPEC sec-gen says may call extra meeting if consensus at Algiers ALGIERS: OPEC members may call an extraordinary meeting to discuss oil prices if they reach consensus at an informal gathering in Algiers this month, OPEC Secretary-General Mohammed Barkindo said during a visit to Algeria, the country's state news agency APS reported on Sunday. Barkindo said he was optimistic about the meeting in Algeria on Sept. 26-28. He has previously said discussions in Algiers will be consultations and no major decisions will be made during talks ...

Markets - Energy - Middle East & Africa

Kurdish oil exports fall to 411,727 bpd in August BAGHDAD: Oil exports from Iraq's Kurdish region via Turkey fell to a five-month low in August, averaging 411,727 barrels per day (bpd), the Kurdistan Regional Government's ministry of natural resources said on Monday. Flows through a pipeline carrying crude from fields in the autonomous northern region to the Mediterranean port of Ceyhan were down from 457,314 bpd the previous month and the lowest since March's 327,371 bpd.A ministry statement gave no explanation for the decline, ...