Economy: page 3

Baku, Azerbaijan. The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, is over 72. 5 percent complete, TAP President Walter Peeraer said in an interview with Trend. "The Trans Adriatic Pipeline is on schedule. In terms of overall ...

Singapore. Oil prices inched down on Wednesday amid concerns that Saudi Arabia and Russia will pump more crude in the second half of the year in response to falling global crude inventories and rising consumer prices. Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil ...

London. Britain’s Royal Bank of Scotland (RBS. L) said on Tuesday it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies, joining other banks like HSBC (HSBA. L) in shoring up its climate policies. RBS said it would no ...

Moscow. The OPEC+ countries will try to keep the deal on limiting production until the end of the year, despite the stated intentions to ease the current restrictions. The market has already partially played up statements about the upcoming production growth, according to analysts. However, ...

Seoul. Oil prices were mixed in Asian trading on Tuesday, but remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply. Brent crude futures LCOc1 were up 31 cents, or 0. 41 percent, at $75. 61 a barrel at 02. 13 ...

St. Petersburg. A return to oil production levels that were in place in October 2016, the baseline for the current deal to cut output, is one of the options for easing curbs, Russia’s energy minister said on Saturday. Sources said this week that Saudi Arabia and Russia were discussing ...

St. Petersburg. Russia’s state-run gas giant Gazprom and Turkey signed a protocol on Saturday on a land-based part of the transit leg of the TurkStream gas pipeline, due to supply Russian gas to European customers, Gazprom said. In addition to the protocol, Gazprom and Botas inked an ...

Singapore. Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia. Brent crude futures LCOc1 were at $75. 34 per barrel at 01. 24 ...

Baku. The price of OPEC basket of fourteen crudes stood at $76. 62 a barrel on May 24, which is by $0. 19 more compared to May 23, the cartel told Trend May 25. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente ...

Washington D. C. The US is interested in force-feeding its liquefied natural gas on the European gas market so it seeks to stop Russia’s Nord Stream 2 pipeline, Thilo Wieland, a board member of German energy company Wintershall, said at SPIEF. “The United States is openly ...

St. Petersburg. Russia's energy giant Gazprom and Serbia agreed on long-term cooperation in expanding the country’s gas transit network, including from Bulgaria to Hungary, Minister of Energy and Mining Aleksandar Antic told TASS. "Serbia has made the decision on long-term ...

Baku. Azerbaijani state oil company SOCAR will sign two memorandums with foreign companies at the Caspian Oil & Gas conference in Baku, said Aynur Nazarli, the conference manager, at a press conference dedicated to the 25th International Caspian Oil & Gas Exhibition and Conference. ...

St. Petersburg. France’s Total agreed with the Russian gas producer Novatek at the St. Petersburg International Economic Forum (SPIEF) that it will have an opportunity of acquiring a 10-15% share in Novatek’s future projects in Yamal and Gydan, the company said in its press release ...

Singapore. Oil prices eased on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017. Brent crude futures LCOc1 were at $78. 69 per barrel at 0208 GMT, down 10 cents from their last close, and more than 2. 2 ...

St. Petersburg. A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tatsuo Yasunaga, President and CEO of Mitsui & Co. , Ltd. , took place today at the St. Petersburg International Economic Forum 2018. The meeting addressed the ongoing and ...

St. Petersburg. During the St. Petersburg International Economic Forum, Rosneft, Vnesheconombank and VEB Leasing signed a Strategic Cooperation Agreement on project financing and provision of property leasing, leaseback and rent services for carrying out Rosneft and its subsidiaries ...

Vienna. Austrian energy group OMV is continuing with planned Iranian energy projects despite the United States’ withdrawal from a nuclear pact with Tehran, but said on Tuesday it had made no investments there yet. European firms doing business in Iran face sanctions after the US ...

Baku. Azerbaijan is still greatly dependent on oil exports, Moody's international credit rating agency’s expert Christian Fang said at an annual summit on Azerbaijan in Baku May 24, reports Trend. “Despite the measures are being taken in the country to diversify the economy, ...