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
The Association of Oil Marketing Companies, has stressed that it will push for full employment for its members under the cylinder recirculation module to protect the interest of LPG distributers. The assertion comes after the LPG Marketers raised concerns that the new cylinder recirculation policy will render them jobless if implemented. Already, the CEO of
The Angolan National Society of Fuels (Sonangol) chose the French company Total as a supplier of one million 200 thousand tons of gasoline until March next year, stated the news here today. This selection arose from a public contest launched last January, to which about twenty European, Asian and US companies were presented.The contract was
There are indications that international oil market is haunted by low demand as unsold Nigerian stocks have been estimated at between 20 and 34 million barrels. A market survey by Platt showed that bidders for the country’s July-loading heavy and light sweet crudes were not present at the market. A trader, who preferred not to
Tarek El Molla was sworn in on Thursday 14 June by President Abdel Fattah El Sisi as the Minister of Petroleum and Mineral Resources, Egypt Oil & Gas reports. El Molla will be serving under the new Prime Minister Mostafa Madbouly who replaced Sherif Ismail last week. The Ismail cabinet resigned on June 5 in
Angola recorded export earnings amounting to 253.3 billion Kwanzas (about 1.06 billion US dollars) from the sale of 49.8 million barrels of crude oil in May this year, according to the latest statistics issued by the Ministry of Finance. During the month, the oil exports, which account for the large bulk of the country’s export