Economy: page 3

Singapore. Oil prices were steady on hopes that increased Chinese spending would stem an economic slowdown that is showing signs of spreading and has been weighing on financial markets. International Brent crude oil futures were at $61. 49 per barrel at 0314 GMT, virtually unchanged from ...

London. The majority of senior energy industry executives expect to maintain or increase spending this year to meet demand for oil and gas after years of austerity, a survey by DNV GL shows. DNV, a technical adviser to the energy industry, surveyed 791 senior professionals from firms with ...

Ohio. An explosion of an Enbridge Inc natural gas pipeline in Ohio created a fireball of flame and damaged homes, prompting the evacuation of nearby residents. The explosion occurred on Enbridge’s Texas Eastern pipeline system and appeared to have destroyed two homes, said Chasity ...

Sydney. Oil prices edged lower as concerns over global economic growth stoked fears over future demand. International Brent crude oil futures were down 10 cents, or 0. 2 percent, at $62. 64 by 0106 GMT. They closed down 0. 1 percent. U. S. West Texas Intermediate (WTI) crude futures ...

Nigeria. Nigeria’s state-owned oil company said it’s in talks with financiers to raise as much as $4. 1 billion and will seek to sign service deals to increase production from three leases. The Nigerian National Petroleum Corp. , or NNPC, is in discussions with Lagos-based ...

Beijing. Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximized operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603. 57 million tonnes of crude ...

Khanty-Mansiisk. 20. 337 mln tons of oil were produced in KhMAD in December, which is 0. 782 mln tons less than in November, according to the estimates by the Oil and Gas Information Agency. Drilling footage increased and reached 1 mln 376. 019 thousand meters. Producers drilled 20. 743 ...

Moscow. The delegation of JSC "Uzkimyosanoat" consisting of managers and professionals of the holding company, which unites chemical enterprises of the Republic of Uzbekistan, has arrived to TATNEFT Company on a four-day working visit. As part of the program, the delegation from ...

United States. U. S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further reduce imports of the country’s oil. Trump administration officials in recent ...

Berlin. US threats to impose sanctions on companies taking part in the Nord Stream 2 pipeline project to deliver Russian gas to Europe bypassing transit nations are inadmissible and have nothing to do with free trade, Russia’s Ambassador to Germany Sergei Nechayev has told the DPA news ...

Sydney. Oil prices rose on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply. A report by the Wall Street Journal on Thursday saying that Washington was considering ...

Moscow. July 12 witnessed putting two hydrotreating units for kerosene and diesel fuel at the TANECO Oil Refining Complex of TATNEFT Company into operation in the mode of comprehensive testing. July 12 witnessed putting two hydrotreating units for kerosene and diesel fuel at the TANECO Oil ...

Moscow. PAO NOVATEK reported today preliminary operating data for the twelve months ended 31 December 2018. In 2018, NOVATEK’s hydrocarbon production totaled 548. 4 million barrels of oil equivalent (boe), including 68. 81 billion cubic meters (bcm) of natural gas and 11, 800 thousand ...

Sydney. Oil prices dipped as U. S. crude production quickly approached an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge. U. S. West Texas Intermediate (WTI) crude futures CLc1 were at $52 per barrel at 0140 GMT, down 31 cents, or 0. 6 ...

Baku. Italy’s Eni company has spent around $2 billion for operations in Burun Field, Nebit Dag Area in Turkmenistan. Main activity has been focusing on production optimization, with a massive number of wells drilled and worked over, according to the company. The Italian company said ...

Singapore. Oil prices dipped on Wednesday on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel. International Brent crude oil futures LCOc1 were at $60. 53 per barrel at 0403 GMT, down 11 cents, or 0. 2 percent, ...

Houston. Three cargoes of U. S. crude are heading to China from the U. S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries’ trade war that began last month. The vessels left Galveston, Texas, last month and ...

Anchorage. Regulators in the U. S. state of Alaska will investigate all of the oil and natural gas wells operated by BP Plc at its Prudhoe Bay oil field after the release of a small amount of crude oil and gas from a well that had earlier been shut. The Alaska Oil and Gas Conservation ...