Oil and gas: page 4

Baku, Azerbaijan. The Norwegian company DNV GL will help create a support system in Azerbaijan in the alternative energy sector, the company's Chief Consultant Ilka Lewington told reporters on Oct. 30. The creation of such a system is provided for as part of the development of a draft ...

Moscow. A number of European countries have recently signaled willingness to receive Russian natural gas through the Turkish Stream pipeline. Italy, Bulgaria, Serbia, and Hungary are seeking to boost purchases of Russian hydrocarbons. In light of this trend the future of the expected US LNG ...

Tokyo. Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the U. S. -China trade war kept pressure on the market. Brent crude futures had gained 52 cents, or 0. 7 percent, to $76. 43 a barrel by 0310 GMT. They ...

Ankara. Turkey is embarking on oil and gas exploration in the Mediterranean sea, the Turkish media reported Oct. 30. The report said that a new seismic survey vessel entitled as Fatih, was set afloat today in order to begin oil and gas exploration. It is expected that onshore oil and gas ...

Berlin. The aim of Berlin’s new financial initiative is to ensure that the plant, once operational, would supply the agreed amount of liquefied natural gas to the European market over a term of twenty years. The German federal government has announced its willingness to provide $1. 5 ...

Minsk. On 1 November 2018 Belarus will raise customs duties on oil and petroleum products, which are exported beyond the customs territory of the Eurasian Economic Union (EAEU). The decision is laid down by the Council of Ministers' resolution No. 768 of 25 October 2018, BelTA learned from ...

Moscow. Russian energy giant Gazprom will work with Russian Railways on the construction of a railroad which will run to the new Arctic port of Sabetta, on the western shore of the Ob river estuary, on the Yamal peninsula. The project is set to be transferred to federal ownership so ...

Baku, Azerbaijan. PETRONAS has urged all stakeholders in the liquefied natural gas (LNG) industry to take concrete actions to advocate natural gas, LNG and its role in the global energy mix, as a collective effort towards a sustainable market ecosystem, said a message from the company. ...

New York. Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that output will remain high and as concern over the global economy fueled worries about demand for crude. Brent crude LCOc1 futures fell 28 cents to ...

The organic theory of petroleum origin is recognized by the vast majority of geologists and petroleum engineers. Almost all forecasts and discoveries are made on its basis. However, the theory says that petroleum reserves are nonrenewable (or they take millions of years to generate, to be more ...

Tehran. Tehran expects that the US sanctions won’t reduce its oil exports to the level of less than 1 million barrels per day, First Vice-President Eshaq Jahangiri said on Sunday, according to the IRNAnews agency. Over the past months, Iran has been exporting 2. 5 million barrels of ...

Beijing. China’s LNG demand grew by a record 8 mt in 2017 and is set to expand by another record 12 mt this year, making up 50 percent of all global LNG demand growth, energy consultancy Wood Mackenzie said in a new report last week. The country’s spike in LNG usage comes as ...

Singapore. Oil prices were stable on Monday, supported by a bounce in Asian stocks, but analysts said sentiment remained cautious after a plunge in financial markets last week triggered worries that global growth may be slowing. Front-month Brent crude oil futures were at $77. 63 a barrel ...

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Moscow. Igor Safonov has been elected Director General of Gazprom UGS. He was born in 1973 in Batumi. He graduated from Bauman Moscow State Technical University, majoring in Turbine Construction. In addition, he completed a professional retraining course for underground gas storage (UGS) ...

Tokyo. Oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia’s OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand. Brent crude futures LCOc1 were down 51 cents, or 0. ...

Verona. British BP is considering entering several new projects of Rosneft, Rosneft CEO Igor Sechin said at the Eurasian Economic Forum rum. "Our major shareholder and long-term business partner BP has directly entered several Rosneft projects in Russia, such as Taas-Yuryakh and ...

Baku, Azerbaijan. Azerbaijan and Turkey have enough will and resources to implement more than one major project, the President of the Executive Committee of the Economic Research Foundation of Turkey, expert Ahmet Incekara told reporters Oct. 24. The expert recalled that recently the ...