Total initiated arbitration proceedings against Sonatrach in May. (Sonatrach) Companies

IOCs may struggle following Algerian tax ruling

The announcement that a tax dispute in Algeria has ended with a major victory for Sonatrach may be bad news for other IOCs challenging the state-run company.

EC President Jean-Claude Juncker with the Estonian and Finnish PMs at the Balticconnector signature ceremony. (EC) Project Finance

Balticconnector forms part of EU’s import strategy

Brussels hopes the Balticconnector pipeline will safeguard against supply disruptions and give more bargaining power in contract negotiations.

Cairn India plans $100 mln investment on upstream projects

Cairn India plans to invest $100 million in its Indian upstream gas projects, focusing on the Rajasthan gas fields.

27 October 2016

EGPC takes 15% stake in Iraqi gas field

State-owned Egyptian General Petroleum Corp. has acquired a 15% stake in the Siba gas field in southern Iraq, according to Egypt’s oil ministry.

27 October 2016

Dos Santos faces nepotism claims over Sonangol

Angola’s president, José Eduardo dos Santos, faces a court battle over the appointment of his daughter Isabel as chairwoman of the state-owned oil company Sonangol.

26 October 2016

Sierra Leone gets power financing from World Bank

The International Finance Corp., a subsidiary of the World Bank, has given Sierra Leone $27 million in debt financing for its power sector.

26 October 2016

Saipem to cut another 800 jobs

Italian oil and gas contractor Saipem will cut 800 more jobs across Europe in the next four years.

26 October 2016

Gazprom lowers 2016 production estimate

Gazprom has lowered its official gas production estimate for 2016 to 409.4 billion cubic metres, several sources at the Russian gas giant have told Interfax.

25 October 2016

Petronas approves independent committee to review leases

Petrobras’ board has approved the creation of an independent committee to allow minority shareholders to review planned changes to some of its biggest oil and gas leases.

25 October 2016

IMF delivers warning to African commodity exporters

African economies risk spiralling out of control if they cannot adapt to the new era of lower commodity prices.

25 October 2016

South Caucasus Pipeline upgrades to cost $2 bln

Investment needed to upgrade the South Caucasus Pipeline under Stage 2 of Azerbaijan’s Shah Deniz project will amount to $2 billion, it was revealed during a meeting on Monday.

25 October 2016

Maersk Drilling cuts staff at headquarters

Copenhagen-based Maersk Drilling is reducing the number of workers at its headquarters by 70, of which around 20 will be permanently lost.

25 October 2016

Petrobras and Total sign MOU

Petrobras and Total have signed a memorandum of understanding to create a strategic alliance covering upstream and downstream activities in Brazil.

24 October 2016

Santos sells offshore Australian assets to Cooper Energy

Santos has announced the sale of its assets off the coast of the Australian state of Victoria to Cooper Energy for A$82 million.

24 October 2016

Saudi Aramco denies resignation rumours

A number of Saudi Aramco employees are reported to have tendered their resignation or asked to be considered for early retirement, local media has reported.

24 October 2016

Macquarie Group closes London oil and gas office

Australian investment bank Macquarie Group has closed its London oil and gas consultancy following a drop in global energy deals.

24 October 2016

Shell sells Canadian assets to Tourmaline Oil

Shell is selling 83,300 hectares of non-core oil and gas properties in western Canada to Tourmaline Oil in a cash-and-stock deal valued at $1.03 billion.

21 October 2016

Enbridge cuts 5% of its staff

Calgary-based oil and gas pipeline company Enbridge has cut 5% of its workforce.

21 October 2016

Japanese bank to loan up to $3.7 bln to Indoensia

The Japan Bank for International Cooperation will give Indonesia up to $3.7 billion in loans this year.

21 October 2016

Zimbabwe told to clear up its debts

Zimbabwe has been given a stern warning by South Africa’s Eskom and Mozambique’s Hydro Cahora Bassa to clear up unpaid arrears from power imports.

21 October 2016

Investment of €187 mln signed for Balticconnector

European Commission President Jean-Claude Juncker witnessed the signing of a €187 million investment for the Balticconnector pipeline on Friday.

21 October 2016
Alexei Miller (left) inspects pipe. Pipelines are helping Gazprom in its fight for market share. (Gazprom)

Gazprom seeks Hollywood ending

Gazprom faces a fight for market superiority both at home and abroad, and may need to mutate to survive.

21 October 2016

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