Economy: page 3

Manama. Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated to contain more than 80 billion barrels, making the once-marginal oil producer potentially a major player in the market. The amount of recoverable oil - or oil that can be extracted - is still under ...

Astana. Vagit Alekperov, PJSC LUKOIL President and CEO, and Vladimir Kim, President of ТОО Kazakhmys Holding, signed a Memorandum of Cooperation to develop green energy projects in Kazakhstan. ​During the first stage the parties will analyse the promising sites to locate renewable ...

Moscow. A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Marco Alvera, Chief Executive Officer of Snam, took place in Moscow wednesday. The meeting participants noted that European countries needed new and reliable routes for gas imports amid ...

Dubai. The global deal to rein in oil output has removed “85% of the problem” of oversupply, and OPEC and allied producers are seeking ways to cooperate after the agreement ends, UAE's Energy Minister Suhail Al Mazrouei said. The world economy is benefiting from the cuts, ...

Tokyo. Oil prices rose on Thursday, holding onto a late-session rally the previous day, buoyed by the U. S. government data showing a surprise drawdown in crude stockpiles. U. S. West Texas Intermediate crude for May delivery CLc1 was up 19 cents, or 0. 3 percent, at $63. 56 a barrel by ...

Moscow. Today in Moscow, PJSC LUKOIL representatives participated in a conference titled "Environmental modernization of the Russian industrial sector" following the Year of Ecology results. The speakers included Vladimir Burmatov, Chairman of the State Duma Ecology and Environmental ...

Moscow. In January-March 2018, CPC Marine Terminal in Novorossiysk (Krasnodar Territory) loaded 14. 94 million tons of crude oil, up 14. 8% Y-o-Y, says CPC statistics. In March 2018, the CPC Marine Terminal hit a new record of monthly loading. It loaded 5, 506, 294 tons or 43, 609, 021 ...

Ankara. Russia expects that the EU authorities will make decisions on the laying route of the Nord Stream-2 gas pipeline in the interests of European consumers, Russian Energy Minister Alexander Novak told reporters. "We expect that decisions will be aimed at satisfying the interests of ...

Baku. Two new solar power plants are planned to be commissioned in Azerbaijan in the near future, Nizami Asgarov, chief technologist of Azerbaijan’s Azguntex company, told Trend. The power plants will operate on solar panels manufactured by the company, he added. “The ...

Moscow. Transit of Russian gas via Ukraine may go down to 10-15 billion cubic meters a year after the Turkish Stream and Nord Stream-2 gas pipelines are commissioned, CEO of Russia’s gas giant Gazprom Alexei Miller said on Tuesday. "We are not saying we will stop entire transit ...

Moscow. Russian oil and gas companies have started work on restoring and developing Syria's energy infrastructure, according to Energy Minister Aleksandr Novak. “A number of projects there are already underway, and there are negotiations with the Syrian government about new ...

Moscow. PJSC LUKOIL reached the 15 million tonnes mark in terms of oil produced at the Yu. Korchagin and V. Filanovsky fields located in the North Caspian Sea. Both fields are in their second construction stage. Construction and commissioning of a production and an injection wells was ...

New-York. Oil edged up on Tuesday, supported by a recovery in the equities market and on a technical bounce for crude after the biggest daily percentage drop in almost a year, but Brent futures stayed well below $70 a barrel. Brent crude futures gained 48 cents, or 0. 7 percent, to settle ...

Moscow. Russian oil output rose slightly in March to an 11-month high of 10. 97 million barrels per day, above a quota agreed under a global pact to curb production, energy ministry data showed on Monday. This was the first increase in Russian output since December and the highest level ...

Houston. Latin America this year will host the most licensing rounds in its history, opening about 1, 100 oil and gas blocks for foreign capital. Mexico started the calendar in January with a round that attracted $93 billion in investment pledges and followed with another securing over $8 ...

Baku. The Azerbaijani Energy Ministry has prepared a report on reliability and sustainability of the power supply of Baku in 2017, the ministry said on April 3. According to the report, high indicators of reliability and stability of the power supply of Baku were achieved in 2017 compared ...

Houston. ConocoPhillips provided several updates on disposition activity and early life-cycle acreage acquisition activities. In the first quarter of 2018, the company closed or entered definitive agreements for approximately $250 million of proceeds from the sale of non-core assets. ...

Baku. Iran’s oil exports to Japan (including gas condensates) in February reached 5. 04 million barrels, according to the official data. Compared to the preceding month, the figure indicates a fall by 20 percent, Japan’s ministry of economy, trade and industry said in a ...