Oil and gas: page 21

Oslo. Norway's $1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world's largest sovereign wealth fund owns $37bn of shares in oil companies such as BP, Shell and France's Total. Selling the shares means it would not be as reliant on ...

Baku. Global upstream spend will recover to over $500 billion by 2020, informs Wood Mackenzie research and consulting company. "Global upstream spend is up from lows of $450 billion in 2016 and 2017, having collapsed from the 2014 peak of $750 billion. But not by much. We think spend ...

Moskow. The Board of Directors of LUKOIL (hereinafter the Company) approved today the lists of candidates for the election to the Board of Directors and the Audit Commission at the 2019 Annual General Shareholders Meeting. The lists of candidates were formed pursuant to the applicable legislation ...

Washington. The Trump administration’s revised five-year program to expand offshore drilling in most federal waters will be released “in the coming weeks”, an Interior Department official said on Wednesday, after months of opposition from coastal state lawmakers opposed to ...

New-Deli. The largest democratic exercise on Earth is set to give the oil market a shot in the arm. About 875 million Indians will go to polls over the next three months to elect their leader, dwarfing the 158 million Americans who registered to vote in the 2016 U. S. presidential ...

Baku. Austria expects to receive gas via the Southern Gas Corridor, Austrian Federal Ministry for Sustainability and Tourism. "We acknowledge the efforts of Azerbaijan to deliver secure, competitive and affordable energy to consumers in Europe. When the Southern Gas Corridor will be ...

Moskow. A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took place in Moscow. The parties reviewed current issues related to their cooperation, including the growth in gas exports to Austria. ...

Singapore. Oil edged up on Thursday amid ongoing OPEC-led supply cuts and U. S. sanctions against exporters Venezuela and Iran, although prices were prevented from rising further by record U. S. crude output and rising commercial fuel inventories. U. S. West Texas Intermediate (WTI) crude ...

Baku. Bulgaria recognizes Azerbaijan as the main driving force behind the implementation of the Southern Gas Corridor, Bulgarian ambassador to Azerbaijan Nikolay Yankov said. Yankov made the remarks in Baku at the official reception on the occasion of the Liberation Day of Bulgaria on March ...

Moskow. Chief Executive Officer of the Russian natural gas producer Novatek is ranked 32th in the Forbes World’s Billionaires List and at the same is the first in the list of the richest Russians. The rating was posted on the Forbes website on Tuesday. According to Forbes, the net ...

Washington. Oil slipped after an industry report showed a bigger-than-expected build in U. S. crude stockpiles. Futures fell from the settlement after the American Petroleum Institute was said to report that U. S. crude inventories rose by 7. 29 million barrels last week. If confirmed by ...

Moscow. PAO NOVATEK (“NOVATEK” and/or the “Company”) and TOTAL S. A. signed a Sales and Purchase Agreement (“Agreement”) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project (the “Project”), within the binding ...

Sydney. Oil prices fell nearly 1 percent on Wednesday as bullish output forecasts by two big U. S. producers and a build in U. S. crude stockpiles outweighed ongoing OPEC-led efforts to rein in crude production. International Brent futures <LCOc1 were down 55 cents, or 0. 8 percent, at ...

Baku. Azerbaijan’s fields such as Shafag-Asiman and Umid-Babek can be used to expand the Southern Gas Corridor (SGC), BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend. He said that the SGC can be expanded in two directions. "The first direction includes ...

Sofia. Gazprom does not plan to participate in the Balkan Gas Hub project, Chief Executive Officer of the Russian gas holding Alexei Miller told reporters on Monday. "Gazprom does not take part in this project. All our gas resources in this region are contracted on a long-term basis, ...

Pekin. China announced it will form a national oil and pipeline company, the first public acknowledgment of the massive energy industry overhaul planned since at least 2014. The creation of the pipeline company was mentioned in the National Development & Reform Commission’s work ...

Almetevsk. The enterprises of TATNEFT Croup of Companies produced 2, 281 thousand tonnes of crude oil in January 2019 (103. 4 percent versus February 2018), while the production volume for two months amounted to 4, 821 (103. 6% versus 2018), including PJSC TATNEFT production in February ...

Singapore. Oil prices fell on Tuesday as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support. U. S. West Texas Intermediate (WTI) crude oil futures were at $56. 30 per barrel at 0210 GMT, down 29 cents, or 0. 5 ...