Petrobas

Petrobras signs agreement to sell Petrobras Oil & Gas B.V.

Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement – “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to Petrovida Holding B.V., a company formed by the partners Vitol Investment

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Tullow oil

What Kenya needs to do to better protect those working in the oil sector

After decades of failed attempts, Kenya finally struck oil six years ago. Commercially viable reserves were discovered in Turkana, the northwest of the country, by British oil company, Tullow Oil. The basin is estimated to contain about 560 million barrels of oil. While commercial production is a few years away, there’s growing concern that Kenya isn’t ready for the environmental,

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The World Bank

World Bank bans oil funding

The World Bank has announced it will not fund upstream oil and gas projects from 2019 onwards, as a mean to save the world from disasters of climate change An estimated 1.1 billion people making 14% of the global population do not have access to electricity according to the International Energy Agency. Speaking at the

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Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME)

Iraq resumes sale of Basra Oil on DME

Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME) for the first time since January, Reuters reported. SOMO sold 2 million barrels of Basra Light crude for loading on November 16-17 at 20 cents above its official listing price, the DME said. Trade sources told Reuters that China’s Unipec

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El-Molla in Jordan

Enppi and Petrojet Complete 60% of Gas Expansion Project in Jordan

Egyptian engineering, construction, and procurement (EPC) company Enppi and Egyptian Petroleum company Petrojet have completed 60% of their natural gas network expansion project in Jordan, says reports. The project will be finished next October, Egyptian Minister of Petroleum Tarek El-Molla said in a press statement during a visit to Jordan. During the trip, Egypt and

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Over 200 dies in Nigeria oil pipeline explosion

The number of casualties after an oil product pipeline explosion in Nigeria has reached 200 as people from local communities have gathered to protest the negligence of the Nigerian National Petroleum Corporation which, they allege to be the reason for the explosion. The pipeline exploded after it caught fire near the Aba Depot last week.

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NOBLE ENERGY

Noble Energy Stakes sold in Tamar field

Noble Energy has sold its 43.5% stake in Israel’s Tamar natural gas field, a week after announcing that it will fund a natural gas export deal with Egypt, according to reports. The Texas-based firm has sold all of its 40 million shares in the Tamar field for $4.26 each through the Tel Aviv Stock Exchange. The announcement

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