Technical Focus

IITFC grants US$265 million loan to Egyptian oil firm

islamic development bank

The International Islamic Trade Finance Corporation (IITFC), a branch of the Islamic Development Bank, has provided funds worth US$265mn to Egyptian General Petroleum Corporation (EGPC)

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Syndicate of banks grant NNPC US$1.5bn loan to pay off debts

oil sxcNigerian state oil firm NNPC has been granted a loan of US$1.5bn by a syndicate of Nigerian and international banks to allow the company pay off its debts to international fuel traders

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Ghana to build US$10 million petroleum studies school

petroleum  zoniedude1Takoradi Polytechnic, located in Ghana's oil-rich western region, has revealed plans to begin the construction of a US$10mn School of Petroleum Studies in 2013

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Oil firms' decisions based on 'untrustworthy' data, claims Oracle study

Rumalia oil field IraqA survey undertaken by Oracle Corporation has revealed that close to 50 per cent of oil and gas executives have, in the past few years, been making decisions based on data they do not trust

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Subsea 7 wins US$150 million Lianzi topside contract

offshore oil rig congoChevron has awarded UK-based company Subsea 7 an Engineering, Procurement, Construction and Installation (EPCI) topside contract worth US$150mn for the development of the Lianzi field in an unitised offshore zone between Congo-Brazzaville and Angola

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