Oil and Gas service

Moscow. PJSC "LUKOIL" took the final investment decision on the Rakushechnoye field development project in the Caspian Sea. The commercial production is scheduled to start in 2023. The field infrastructure under the taken decision includes a fixed offshore ice-resistant platform, ...

Tripoli. Libya’s Abu Attifel oil field has restarted operations after a two-week halt due to the closure of oil ports—a closure that ended on Wednesday after Libya’s National Oil Corporation (NOC) lifted the force majeure on four ports in the eastern part of the country after the ...

Berlin. US threats to impose sanctions against European companies involved in construction of a gas pipeline link between Russia and Germany have enraged a large German business group. "Threats of US sanctions against European companies invested in Nord Stream 2 encroach on European ...

Dubai. Mubadala Investment Co is holding talks with potential bidders for its Spanish oil company Cepsa Trading as it weighs alternatives to an initial public offering planned for later this year, according to people familiar with the matter. Investment firms including CVC Capital Partners ...

Beijing. China’s crude oil imports fell for a second month in a row in June to the lowest since December, as shrinking margins and volatile oil prices led some independent refiners, known as “teapots”, to scale back purchases. June shipments came in at 34. 35 million ...

Baku. US sanctions limit the access of Iranian banks to operations with dollars, remaining one of the main obstacles to the export of oil products of Kazakhstan’s Onisgroup to the Islamic Republic, general director of Onisgroup, Chingis Nugumarov, told Trend. "Considering the ...

Moscow. The operator of the Nord Stream 2 natural gas pipeline construction hopes that the project will not be subject to political sentiment. "The project’s implementation is not exposed to political attitudes, but presents a comprehensive structure of licensing procedures in ...

Brussels. US President Donald Trump has strongly criticized NATO counties for approving the construction of the Nord Stream 2 gas pipeline. While talking to reporters ahead of a meeting with the NATO secretary general in Brussels, he bashed Germany, calling it "a captive of Russia. ...

Port-au-Prince. Protests entered a fourth day in Haiti on Monday as the government’s decision to back down on raising fuel prices failed to ease tensions. Various sectors also called for Prime Minister Jack Guy Lafontant’s resignation over the crisis. Protestors marched on ...

Baku. Implementation of Terms of Reference for the Ionian-Adriatic Pipeline (IAP) project has started, Economy Minister of Montenegro Dragica Sekulic said in an interview with Trend. "During the previous period, the Ministry of Economy intensified communication with the Ministry of ...

St. Petersburg. A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Alisher Sultanov, Deputy Prime Minister of the Republic of Uzbekistan, Chairman of the Board of Directors of Uzbekneftegaz, took place in St. Petersburg. The parties discussed the ...

Rome. Italy-based multinational energy company Eni announced a second light oil discovery on Monday on the B1-X exploration prospect located on the South West Meleiha license in the Egyptian Western Desert, 130 kilometers north of the oasis of Siwa. The well is the second drilled by Eni to ...

London. France’s Total is set to sell a third of its stake in Laggan Tormore gas field along with other oil and gas assets in Britain’s North Sea that could fetch a total of $1. 5 billion, four banking and industry sources said. The divestment will include stakes in a number of ...

Astana. Pavlodar Oil Chemistry Refinery LLP resumes mass production of aviation fuel and from the second decade of July begins its shipment to consumers, BNewws. kz reports with a reference to a press service of the enterprise. The first shipment will include 5 000 tons of aviation fuel, ...

Moscow. Sanctions against the Russian oil industry will affect oil production in 2020, according to the report from the Analytical Credit Rating Agency (ACRA). According to the report, after the introduction of sanctions in 2014-2015, a number of long-term projects on developing new oil ...

Austin. Texas oil drillers are dimming the lights on the shale explosion - for astronomy’s sake. Crude explorers in North America’s busiest field have agreed to temper light pollution from the 150-foot (46-meter) tall rigs they’re using to strike oil in remote West Texas, ...

Tripoli. Libya’s oil output will keep dropping day by day if major ports remain closed after clashes last month led to a political deadlock, the head of the country’s state energy producer said. “Today, production is 527, 000 barrels a day, tomorrow it will be lower, and ...

Mexico. The Mexican oil hedge, or the Hacienda Hedge, is considered the biggest hedging bet on Wall Street as well as perhaps the most secretive. It has earned Mexico—and a few large investment banks—billions of U. S. dollars. Mexico buys put options from investment banks ...