Istanbul / AFP Turkey has angrily reacted to the cancellation of a panel in Sweden about the failed July coup attempt seeking to oust the government from power, calling it a “blow” to the freedom of expression. The panel “July 15th—Behind the Scene of the Bloody Coup” had been planned to take place in Stockholm. The office of the ...
Read More »Modi, Putin sign defence deals ahead of BRICS summit
Benaulim /Â AFP Indian Prime Minister Narendra Modi and Russian President Vladimir Putin signed lucrative defence and energy pacts on Saturday following talks aimed at reinvigorating ties between the former Cold-War allies. Modi hailed Putin as an “old friend” after their meeting in the Indian state of Goa, where leaders of the other BRICS emerging nations were also gathering for ...
Read More »Orange Egypt signs 4G spectrum license deal for $484 million
Bloomberg Orange SA’s Egyptian unit is set to become the country’s second 4G mobile-phone operator after acquiring an airwaves license Thursday, joining the state-controlled landline monopoly Telecom Egypt. Orange Egypt will pay $484 million for 2 x 10 megahertz of 4G spectrum and $11.3 million for a virtual fixed-line license, Jean Marc Harion, chief executive officer of the unit, ...
Read More »IEA to lift solar, wind outlook after decade of underestimates
Bloomberg The world’s most prominent energy forecaster will raise its outlook for wind and solar installations following a decade of underestimating growth in the renewables industry. The International Energy Agency, which was established as a watchdog of the industry in the wake of the 1973 oil crisis, will “significantly†raise its estimates for renewables when it publishes its annual ...
Read More »Oil from Kashagan starts flowing to export
Bloomberg Kashagan, a vast oil field in the Caspian Sea, sent its first crude for export after about 16 years in development and more than $50 billion of investments. The venture loaded 26,500 metric tons of crude for export into the country’s pipelines, Kazakhstan’s Energy Ministry said in an e-mailed statement Friday. Of that, 7,700 tons was sent to ...
Read More »Egypt to hire Citigroup to weigh stake sale in Lender AAIB
Bloomberg Egypt has appointed Citigroup Inc. as financial adviser to help with a potential sale of its stake in Arab African International Bank, according to people familiar with the matter. Central bank authorities are still determining the size of the holding they want to sell and whether to pursue an initial public offering or a sale to a third party, ...
Read More »North Dakota oil production drops below 1mn barrels a day
AP North Dakota’s oil production dropped below 1 million barrels per day for the first time in more than two years, officials said Thursday — yet another reminder that the drilling boom is over in the country’s No. 2 oil state due to the slump in world oil prices. The state produced an average of 981,039 barrels of oil ...
Read More »Jordanians protest against gas deal with Israeli partners
Bloomberg Hundreds of Jordanians took to streets of Amman to protest a $10 billion gas deal recently reached between Natural Electric Power Co. of Jordan and partners in Israel’s Leviathan field. The demonstrators carried banners stating “Israeli gas is an occupation†and “To our government, you do not represent us,†while some wore red T-shirts with the slogan “Enemy ...
Read More »Newfield CEO sees cautious approach on ‘huge’ Oklahoma oil discovery
Bloomberg Don’t expect a major ramp-up of oil production in Oklahoma’s hot new shale plays any time soon, even as companies invest billions of dollars in the region, said Newfield Exploration Co.’s chief executive officer. Producers need more exploration time and a higher oil price before they can begin accelerating drilling in the Scoop and Stack oil formation, Lee ...
Read More »China mega-merger poses challenge to giant’s oil grip
Beijing / Bloomberg A merger of Sinochem Group and China National Chemical Corp. would create a new oil-refining challenger to established state-run behemoths that dominate the country’s fuel-making business. The prospective tie-up, combining two companies with assets of more than $100 billion, would create the largest oil refiner behind China Petrochemical Corp. and China National Petroleum Corp., according to ...
Read More »