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Oman to accept advance payment for its oil


Oman could be accepting advance payment for its oil in order to curb its budget deficit and debt as the government is challenged by a significant budget deficit gap expected to continue increasing due to the low oil prices. Sources familiar with the dossier hinted that payments could be made for up to two years […]

February 16th, 2017 | Posted in Energy,Headlines | Read More »

Libya: UNDP Funds Solar Power Panels in Hospitals


The United Nations Development Program is funding the installation of solar power panels on the roofs of hospitals in several cities across Libya to ensure a steady supply of electricity. Power outages are a frequent occurrence in the North African nation’s towns and hospitals always bear the brunt of these recurring blackouts. Solar panels have […]

February 1st, 2017 | Posted in Energy,Headlines | Read More »

Iran Warns Trump against Suspending P5+1 Nuclear Agreement


Iran’s President Hassan Rouhani has warned U.S. President-elect Donald Trump against sidelining the nuclear agreement that was reached between the so-called P5+1 because it is a “finished” deal that has been “approved by the UN Security Council and has become an international document.” Rouhani vowed that there would be “no (new) negotiations” with regards to […]

January 18th, 2017 | Posted in Energy,Headlines | Read More »

Oil Production Output Cut Target Missed, OPEC SG Optimistic


The target of the Organization of Petroleum Exporting Countries (OPEC) to reduce the total output by 1.2 million barrels per day is expected to be missed as a source within the oil cartel revealed that “compliance (regarding the agreement to cut output) won’t be 100%, it never is.” Oil producing countries are hoping that reducing […]

January 16th, 2017 | Posted in Energy,Headlines | Read More »

BP Signs 1bln Deal to Drill for Gas Offshore Mauritania, Senegal

BP, oil and gas giant multinational, announced that it has signed a $916 billion joint agreement with US explorer Kosmos Energy to drill for gas offshore Mauritania and Senegal. Under this agreement, BP will acquire 62% interest in Kosmos explorations offshore Mauritania and 32.49% interest in Senegal’s exploration blocks. In a press release issued on […]

December 19th, 2016 | Posted in Energy,Headlines,World News | Read More »

First Meeting on Morocco-Nigeria Gas Pipeline in Casablanca

King Mohammed VI of Morocco chaired Tuesday at the Royal Palace in Casablanca, the first meeting on the giant gas pipeline project that will go up from Nigeria to Morocco via several West African countries. This landmark project, the biggest in West Africa, was announced during the latest visit of the Moroccan Sovereign to Abuja […]

December 14th, 2016 | Posted in Energy,Headlines,World News | Read More »

KSA: Saudi Arabia and Kuwait to begin operations at Neutral Zone oilfields

Operations at the Khafji and Wafra oilfields that lie in the neutral zone between Saudi Arabia and Kuwait are expected to begin before the end of the year as sources claim that an agreement has been reached by officials from the two countries. The sites are jointly operated by the two countries but production was […]

December 7th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Oil Prices to Further Drop if OPEC Fails to Reach Output Cut

The failure by OPEC members to reach a production freeze deal amid disagreements over sharing output cuts risks further drop in oil prices, several analysts warned. As the de facto Saudi-led cartel prepares to meet on Wednesday in Virginia, a failure to agree on a production cut will send prices down to below 40 dollars […]

November 29th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

Morocco To Build $ 2.5 Bln Fertilizer Plant in Ethiopia

The historic visit paid this weekend to Addis Ababa by King Mohammed VI was crowned with the signing of a 2.5 billion deal to build a giant plant to produce fertilizers in Ethiopia. The deal was inked by Morocco’s Office des Phosphates (OCP), the world’s largest phosphate exporter and Ethiopia’s state-run firm Chemical Industries Corporation […]

November 19th, 2016 | Posted in Energy,Headlines,World News | Read More »

Iran Signs Multibillion Dollar Deal with Total

The National Iranian Oil Co. (NIOC) reached a preliminary agreement worth $4.8 billion with Total, a French energy company, for the development of the South Pars offshore gas field; one of the largest in the world. Total’s Chairman and CEO Patrick Pouyanne said the agreement engulfs “an attractive commercial framework” and gave assurances that the […]

November 9th, 2016 | Posted in Energy,Gulf News,Headlines | Read More »

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