Tag Archives: Africa

The LPG project is the largest project in the history of modern Yemen.

Uganda estimates overall crude reserves at 6.5 billion barrels. while recoverable reserves are seen at between 1.4billion and 1.7 billion barrels.

The total support from the Indian Government for the project. including the cost of the land. will be around Rs 400 crore ($47.9m).

Libya. along with Nigeria and Iran. was exempted from the original agreement.

Equatorial Guinea has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC).

Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp'.s South African assets and its subsidiary in Botswana .

Several countries. notably Russia and Saudi Arabia. saw the Algerian proposal as a good suggestion and found it interesting.

OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018.

The SPR sales would not start until October 2018 and would amount to just 95.000 bpd. or 1 percent of current U.S. output.

The price of OPEC’s basket of 13 crudes stood at $51.50 per barrel on May 22.