Oil and gas: page 4

Moscow. The conditional Russian oil has reached the delivery point in Hungary via the Druzhba pipeline, the Transneft spokesperson Igor Demin told reporters on Wednesday. "Today, at 16:45 Moscow time, a little earlier than the estimated time, the conditional oil reached the delivery ...

Baku. Kanat Bozumbaev, the Minister of Energy of Kazakhstan stated, that the reports, which claim that French company Total is selling their share in Kazakhstan’s Kashagan oil field are false, Trend reports via Interfax-Azerbaijan. “This is the first time I’m hearing ...

Tokyo. Oil prices rose on Thursday after an industry report showed a decline in U. S. crude inventories that exceeded analyst expectations. U. S. West Texas Intermediate (WTI) crude futures were up 26 cents, or 0. 4%, at $59. 07 a barrel by 0258 GMT. They closed down 0. 6% on Wednesday ...

Washington. Exxon Mobil Corp. and Chevron Corp. ’s unwillingness to venture beyond their core oil and gas business will face a test Wednesday when shareholders vote on climate change proposals at both oil companies’ annual meetings. The U. S. oil majors have typically enjoyed an ...

New Delhi. India and Iran will begin figuring out a fresh payment channel to resume oil trade, according to a New Delhi official. The US had conveyed to New Delhi that India's "escrow account" used for Rupee-Rial trade cannot be operated after 2 May. Earlier, India had an option ...

St. Petersburg. Gazprom is not showing interest in participation in the project on construction of a gas pipeline from Iran to Oman, while the evaluation of potential participation in projects in Iran is still underway, Deputy Chief Executive Officer of Russia’s top gas producer Vitaly ...

Baku. In January-April 2019, production of oil products in Azerbaijan in total amounted to 1. 02 billion manats, which is 3. 9 percent more compared to the same period of 2018, Trend reports referring to State Statistical Committee of Azerbaijan. SOCAR, which is the sole producer of oil ...

Singapore. Oil prices fell on Wednesday on concerns the Sino-U. S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support. Front-month Brent crude futures, the international ...

Brisbane. ConocoPhillips expects current weak global liquefied natural gas (LNG) prices to improve as growing demand soaks up the excess supply in the market, the company’s chief executive said on Tuesday. “LNG prices are pretty weak right now, but we believe it’s a short ...

Moscow. China has stopped buying oil from Iran after Washington announced a decision not to extend exemptions from its sanctions for certain countries, the Wall Street Journal reported, citing sources in the Iranian oil industry. According to Rahim Zare, who is a member of the economic ...

Baku. Azerbaijan’s electricity producer Azerenergy has laid a new high-voltage power line to enhance the reliability and sustainability of the power supply of Baku, Trend reports referring to Azerenergy. A new 220-kilovolt transmission line was laid from the Janub power station in the ...

Minsk. The Belarusian government on Tuesday announced its tariffs for reverse deliveries of contaminated oil to Russia via its pipeline system. According to a decree by the Ministry of Antimonopoly Regulation and Trade, published by the national legal information database early on Tuesday, ...

Singapore. Brent crude oil prices consolidated above $70 per barrel on Tuesday as supply cuts led by producer club OPEC and U. S. sanctions on Iran’s and Venezuela’s fuel exports outweighed concerns about an economic slowdown. Front-month Brent crude futures, the international ...

The Nord Stream 2 project is being implemented in accordance with the approved schedule, despite the US plans to impose sanctions on the gas pipeline, Russian Minister of Energy Alexander Novak said on Monday. "We have already heard a long time ago that such bills are being drafted. ...

Moscow. PAO NOVATEK announced obtaining five new licenses on the Krasnoyarsk Territory located in close proximity to the Company’s existing licenses located on the Gydan Peninsula. OOO NOVATEK-Yurkharovneftegas obtained the right for geological survey licenses for the Khalmeryahskiy, ...

Baku. The US Department of State positively assesses the signing of the Convention on the Status of the Caspian Sea last year and urges Turkmenistan to take advantage of the agreements reached by the Caspian states to join the Southern Gas Corridor (SGC), which will give this country positive ...

Moscow. ​President of LUKOIL Vagit Alekperov discussed prospects for bilateral cooperation with Denic Sassou Nguesso, President of the Republic of the Congo. Earlier on, LUKOIL and the National Petroleum Company of Congo (SNPC) concluded a Memorandum of Agreement. According to the ...

Moscow. Oleg Vakhovsky has been appointed Director General of Gazprom Transgaz Surgut. Oleg Vakhovsky was born in 1971 in Artyomovsk, Donetsk Region. He graduated from the Gubkin State Academy of Oil and Gas, majoring in Oil and Gas Field Development and Operation, and received an MBA in ...