Government and society: page 4

Moscow. The European Union is planning to switch payments to the euro for its oil purchases from Iran, eliminating US dollar transactions, a diplomatic source told. Brussels has been at odds with Washington over the US withdrawal from the Iran nuclear deal, which was reached during the ...

Abu Dhabi. The Abu Dhabi National Oil Company (ADNOC)and OCP Group of Morocco (OCP) have agreed to explore the phased creation of a new global fertilizers joint venture, in a move that will accelerate the execution of both ADNOC and OCP’s international strategies. The proposed joint ...

Baku. Azerbaijan’s state oil company SOCAR registered two companies established jointly with foreign partners for the development of two new fields in the Caspian Sea, Azerbaijan’s Taxes Ministry said in a message posted on its website. The Azerbaijani branches of SOCAR Absheron, ...

Abu Dhabi. The Abu Dhabi National Oil Company (ADNOC) monday unveiled plans to invest US $45 billion alongside partners, over the next five years, to become a leading global downstream player. The plans were unveiled at the ADNOC Downstream Investment Forum, which took place monday in Abu ...

Moscow. Russian oil giant Rosneft rejected media reports on Monday that its cooperation with Italy’s Eni on geological exploration on the Russian shelf has been suspended over the US sanctions. "Information on Eni’s withdrawal from JV with Rosneft does not correspond to ...

Moscow. Chief executive of the Center for Strategic Research (CSR) and ex-finance minister Alexei Kudrin consented to become a candidate to the office of the head of the Russian Chamber of Accountants from the United Russia`s (Edinaya Rossiya) party, a participant in the meeting of the fraction ...

Muscat. Total has signed a memorandum of understanding with the government of Oman to develop natural gas resources in Oman, covering both upstream and downstream businesses. Total and Shell as operator will develop several natural gas discoveries located in the Greater Barik area on onshore ...

Tehran. Iran seeks new oil swap opportunities with Caspian Sea littoral states, Seyed Pirouz Mousavi, managing director of National Iranian Oil Terminals Company (NIOTC), told Trend. Iran is currently swapping oil with Turkmenistan, Mousavi said, adding that Iran considers to attract ...

Washington. India’s oil minister on Saturday expressed concern about the rise in oil prices but said it was too early to predict the impact of US sanctions on his country’s imports of Iranian oil after Washington withdrew from the Iran nuclear deal. “This kind of ...

Berlin. Although Germany and Finland have already issued permits for the gas pipeline construction, US resistance to the project is growing. US Ambassador to Germany Richard Grenell has criticized the Nord Stream-2 project in an interview with the Funke Mediengruppe. "We ...

Moscow. Russia’s fedral budget may get a surplus of 0. 45% of GDP this year instead of previously expected deficit of 1. 3% of GDP, according to this year’s amended draft federal budget for 2018. The 2018 budget surplus may amount to 440. 6 billion rubles, instead of previously ...

Moscow. The US decision to introduce sanctions against Iran, which restrict oil export, will make OPEC + soften the oil production restrictions but they will not abandon them completely, industry experts told TASS. The volatility of prices will also grow - this year the price may exceed ...

Canberra. Off the coast of Western Australia, a battle between mega giants is unfolding. Combatants involve the world's biggest semi-submersible platform, the longest subsea pipeline in the southern hemisphere and the largest floating facility ever built. They are all there for the ...

Riyadh. Saudi Arabia’s Energy Minister Khalid Al-Falih said on Wednesday the Kingdom will work closely with major OPEC and non-OPEC producers as well as key oil consumers to lessen the impact of any supply shortages after US withdrawal from the Iran nuclear deal. “Following the US ...

Tehran. UK-based Dunlop Oil & Marine Ltd has signed a memorandum of understanding with Iran Oil Terminals Company, a subsidiary of the National Iranian Oil Company, to cooperate in oil and gas development projects. The MoU was signed on Wednesday by Kambiz Zandiyeh, general manager of ...

Tehran. While US President Donald Trump moves to withdraw his country from the Iran nuclear deal, Tehran is preparing to introduce its own brand of crude to the global market. Facing the prospects of new economic sanctions, Iran moves to begin the first commercial exports of its own ...

Munich. Siemens said on Monday weakness in the power generation market is forcing it to temporarily shut down its power and gas sites around the world. Large gas turbines are increasingly unloved as the world shifts to renewable energy, which is weighing on Siemens’ earnings and ...

Moscow. Crude oil transit over the Druzhba pipeline running across the territory of Ukraine declined in four months of this year because of complaints of consumers regarding oil quality, official spokesperson of the Russian oil pipeline operator Transneft Igor Dyomin told TASS on Monday. ...