Economy: page 114

Washington. In southern Iran, workers are putting the finishing touches to the latest extension to South Pars, the world’s largest gasfield. This work on Section 19 of the field is notable because it has been carried out by Iranian companies rather than western groups. “This ...

Tehran. The shipment of heavier gas products, consisting of 51, 000 barrels of propane and 20, 000 barrels of butane, was loaded from Siri refinery terminal on the Persian Gulf. Iran has been boosting energy exports since international sanctions were lifted in early 2016. Siri refinery ...

Moscow. Goldman Sachs has raised its forecast for Russia’s oil production in 2017 from 11. 4 mln barrels to 11. 7 mln barrels a day. According to the experts of Goldman Sachs, Russia is building up production faster than they expected. The consolidated output by Russia and OPEC ...

Moscow. Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation. Final binding agreements for the new joint venture were signed at the XX St. ...

Tehran. Iran’s crude oil and gas condensate exports will increase to three million barrels per day (bpd) by the end of current Iranian calendar year (March 20, 2017). According to Ali Kardor, the managing director of National Iranian Oil Company (NIOC), the country’s exports of ...

At least 117 people were arrested as a result of the police break-up of the activists’ camp set up in protest against the construction of Dakota Access Pipeline. Associated Press reported that about 200 policemen and soldiers broke up the camp set up on the developer’s plot, where ...

Tehran. Iran’s ministry of petroleum released a report, in which announced that its oil export to the world countries has increased to a great extent after the Joint Comprehensive Plan of Action. The export of crude oil to Asian states reached roughly 1. 7 million barrels per day in ...

Moscow. The Board of Directors of LUKOIL approved today a new Regulation on Dividend Policy and, on its basis, recommended to the Extraordinary General Meeting of Shareholders to resolve on payment of interim dividends on LUKOIL’s ordinary shares, based on the results of the ...

Moscow. Rosneft Oil Company and ONGC Videsh Limited closed the transaction for the purchase of 11% of Vankorneft JSC to the Indian company. The base price of the transaction is с. USD 930 mln. The closed transaction finalizes the creation of an international energy hub, based on Vankorneft ...

Nizhnevartovsk. Hydraulic fracturing operation conducted by JSC «Samotlorneftegas» was highly estimated at the second specialized conference organized by OJSC «NK «Rosneft» - «Petroleum Exploration and Production Technologies 2016». The Subsidiary’s ...

Washington. Texas—Wall Street investors have fallen in love with properties in the Permian Basin, and that is making some West Texas oil men nervous. Even though a barrel of oil commands half what it did two years ago, the price being paid by companies for drillable acres in the ...

Stavanger. Statoil ASA, the first of the major oil producers to report third-quarter earnings, posted an unexpected loss for a second quarter in a row as maintenance and exploration expenses compounded the impact of lower crude and gas prices. The company also deepened spending cuts. The ...

Brussels. The European Commission (EC) and Gazprom reached progress in settlement of the antimonopoly probe opened by the EC against the Russian gas holding. Competition Commissioner Margrethe Vestager said on Wednesday after consultations with Gazprom in Brussels. "We have made progress ...

Moscow. Russia’s investments in oil sector will grow by $3. 2 bln in 2016 in comparison with 2015. This was stated First Deputy Energy Minister Alexei Teksler. "This year the growth in comparison with the last year will be about three billion dollars. And as for the next year we ...

Moscow. A working meeting between Vladimir Putin, President of the Russian Federation, and Alexey Miller, Chairman of the Gazprom Management Committee, took place. Alexey Miller briefed Vladimir Putin on the readiness of Russia’s Unified Gas Supply System for operation in the ...

Tehran. Parliament member, representing the city of Shiraz, Farajollah Rajabi says as far as oil production is concerned, Iranian oil industry has been witnessing positive event. Rajabi told Shana, “As for revival of Iranian share in the world oil market, good events are taking ...

At the end of June Statistical Review of World Energy for 2015 by British Petroleum company came out. I have been using this famous company’s statistics for nearly 15 years, seeing with pleasure how carefully and thoughtfully its specialists approach complicated problems of the energy ...