Economy: page 3

No sooner has the summer finished than news items appeared in abundance. Commentators, managers, ministers and hurricanes have become active. More than anything, Hurricane Harvey came out of hand severely flooding Houston, the US oil capital. It’s hard to believe that in just a ...

Vladivostok. The Russian Energy Ministry predicts that the oil market will be stabilized by April 1, 2018, if that is not the case, the option of extending the OPEC + agreement will be used, said Russian Energy Minister Alexander Novak at the 2017 Eastern Economic Forum on Wednesday, Informs ...

Vladivostok. Brent oil price in 2018 will be in the range of $45-55 per barrel, Russian Energy Minister Alexander Novak told reporters on the sidelines of the Eastern Economic Forum. "The range will be $45-55 per barrel, " he said, talking about Brent crude oil. The Russian ...

Moscow. PJSC LUKOIL tested a new technique of thermal-gas-chemical formation treatment at one of the Usinskoye field wells. During the tests, special chemical compounds were injected into the oil-saturated layer through separate channels: a solution of ammonium nitrate and sodium nitrite ...

Moscow. Rosneft and CEFC China Energy Company Limited signed a Strategic Cooperation Agreement and a contract for the supply of Russian crude oil at the 9th BRICS summit. The documents were signed by Igor Sechin, Rosneft Chief Executive Officer, and Chan Chauto, CEFC China President. The ...

Rome - Tehran. Italy’s Eni company is currently preparing the feasibility study for the development of oil and gas fields in Iran. "We signed two agreements to carry out feasibility studies on the development of oil and gas fields in the country. We have six months to present the ...

Moscow. Russia’s oil major Rosneft said on Sunday it has signed a strategic cooperation agreement and a long-term oil supplies contract with China’s energy company Huaxin. "On the margins of the 9th BRICS summit, Rosneft and China’s energy company Huaxin signed an ...

Moscow. Russia plans to spend about 160 billion rubles ($2. 7 billion) on the Arctic by 2025. Prime Minister Dmitry Medvedev told the government that later today a new version of the state program for the social and economic development of the Arctic zone would be adopted. The ...

London. U. S. crude futures fell in Asian trading on Friday, partly reversing sharp gains from the previous session, amid ongoing turmoil in the oil industry with nearly a quarter of U. S. refining capacity offline. U. S. West Texas Intermediate (WTI) Clc1 was down 27 cents, or 0. 6 ...

Baku. The profitability of of the existing/ongoing projects comprising Southern Gas Corridor is independent from any third party gas suppliers. This was stated from Azerbaijan’s Southern Gas Corridor CJSC. "Southern Gas Corridor is chain of interlinked projects comprising one ...

London. Tropical Storm Harvey’s effect on the energy industry has spread beyond flooding U. S. refiners as fuel pipelines also shut, threatening a supply squeeze across the nation and stirring up world markets as U. S. retail fuel prices rose further. The storm, which lashed Louisiana ...

Moscow. Gazprom intends to supply only its own gas to China via Power of Siberia pipeline, not from third-party producers. The representative of the Russian gas holding said during a conference call. "We are confident that by the contractual date the pipeline will be commissioned and ...

Tehran. Following the signature of a $4. 8 billion contract for the development of Phase 11 of South Pars gas field with a consortium of France's Total, China's CNPCI and Iran's Petropars, National Iranian Oil Company (NIOC) announced its obligation to finalize 10 more contracts for ...

Moscow. Russian gas giant Gazprom will maintain dividends at least flat on the year in rubles. It said on Wednesday after a meeting of its board of directors, which discussed dividend policies for 2018-2020. “Gazprom tries to ensure the level of dividend payouts in rubles at least ...

Tehran. The US-Iran harsh rhetoric and constant frictions will continue as US seeks to prevent a flux of Iranian oil on the market, an expert believes. Iran’s missile program is just one of the multiple cards on the table, which Tehran is using, as its right to pressure the ...

Moscow. Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline construction project, received funds from five European companies totaling 324 mln euro in July 2017, Gazprom said in its IFRS report on Tuesday. "Subsidiary Nord Stream 2 AG borrowed funds from Wintershall, ...

Motor fuel prices rose 2. 7 percent and oil in New York slipped 2. 7 percent. Harvey, the strongest storm to hit the U. S. since 2004, has flooded cities and caused plants to shut, leading to about 2. 26 million barrels a day of crude and condensate capacity in Texas offline. Several key ...

London. It is unlikely that the oil market balance will be achieved by March 2018, William Arthurs, chairman of the London-based Transatlantic Institute, told Trend. "OPEC and the other producers, who have agreed to cut production up to March 2018, may attempt to stabilize or ...