Output has more than tripled in the past three months and hit a three-year high this week as militias make deals to reopen facilities. The country was exempted from cuts agreed to by major oil producers. Source: WSJ
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Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Source Reuters
Five companies default in Jan-Feb brings total bankrupt E&Ps to 119. Five oil and gas companies have gone bankrupt in the first two months of this year, according to the most recent edition of Haynes and Boone’s Oil Patch Bankruptcy Monitor. Currently 119 E&P companies have entered bankruptcy since the beginning of 2015. Source Oil & Gas 360
European Commissioner for Migration Dimitris Avramopoulos on Thursday underlined the need to safeguard a deal between Brussels and Ankara to curb human smuggling in the Aegean, noting that some 3 million refugees were in Turkey waiting to cross into Greece in a bid to reach Western and Northern Europe. Source Ekathimerini