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Moscow. While Nord Stream 2 has prompted considerable opposition in the US, Poland, Ukraine, and some other countries which have described the project as a political instrument, German Chancellor Angela Merkel agrees with Russian President Vladimir Putin’s view that the issue of Nord ...

Bagdad. Iraqi Oil Minister Thamir al-Ghadhban on Wednesday said that the ministry is planning to conduct oil and gas explorations in the desert in western Iraq within the next four years, Trend reported citing Xinhua. "The plans of the ministry in the next four years are aimed at ...

Moscow. A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ulf Heitmueller, Chairman of the Executive Board of Verbundnetz Gas (VNG), took place tin Moscow. The parties discussed their ongoing and future cooperation, in particular the interaction ...

Minsk. Belarusian pipeline operator Gomeltransneft Druzhba notified its Russian partners of stopping oil transit via the Druzhba oil pipeline following a similar decision by Poland. The chief engineer of the company Andrey Verigo reported on Wednesday. Verigo was quoted as saying by the ...

Singapore. Oil prices dipped on Thursday as record U. S. output and rising crude stockpiles dampened the impact on markets of tighter U. S. sanctions on Iran and producer club OPEC’s continued curbs on supply. Brent crude futures were at $74. 53 per barrel at 0241 GMT, down 4 cents from ...

Tehran. Iran's Supreme Leader Ali Khamenei said that Iran can export as much oil as it needs. Earlier, Washington announced its decision not to reissue waivers on Iranian oil sanctions after they expire in May. In addition, Washington announced that the US, Saudi Arabia, and the ...

Kiev. The Ukrainian government promises to take measures that will help reduce the country’s economy dependence on Russian oil products, Prime Minister Vladimir Groysman said. "The government is developing a series of measures to minimize the impact and further reduce dependence ...

Washington. More than 20 countries have lowered their oil trade with Iran to zero since last May, US Special Representative for Iran Brian Hook said in a press briefing on Tuesday. The official noted that Washington gave a choice to other countries to work with the United Sates or continue ...

Baku. In the next five years, oil production in the Caspian region will grow to 170 million tons per year, said Maksim Murashko, Director General of Transneft Service LLC. He made the remarks at 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, ...

Moscow. Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400, 000 barrels. To manage the field's production, ...

Singapore. Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington’s push for tighter sanctions against Iran. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in ...

Baku. Approximately by 2025 gas production in Azerbaijan can reach 50 billion cubic meters per year, Gulmira Rzayeva, Research Associate at the Oxford Institute for Energy Studies (OIES), director of Eurasia Analytics, said at the 4th SOCAR International Caspian and Central Asia Downstream ...

The Saudi government has announced plans to compensate countries for potential losses to keep the global crude market in balance after Washington’s decision to end waivers granted to buyers of Iranian oil. The oil-rich kingdom pledged to assess the impact of tightened US sanctions ...

Baku. The US won’t issue additional reduction exceptions to existing importers of Iranian oil, Trend reports citing the US State Department. “Today we are announcing the United States will not issue any additional Significant Reduction Exceptions to existing importers of Iranian ...

Moscow. Gazprom considers the possibility of acquiring a stake in one of the key producing assets of Argentina’s YPF, the company said. "Gazprom Group is considering the possibility of implementing projects in Argentina, including those related to the development of ...

Singapore. Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Brent crude futures were at $74. 40 per barrel at 0239 GMT, up 0. 5 percent from their last close and not far off a ...

Moscow. The CEO of energy major Total has announced plans to buy a share in projects aimed at constructing terminals for transferring liquefied natural gas (LNG), led by Russia’s biggest independent gas producer Novatek. According to Patrick Pouyanne, who also serves as chairman of ...

Baku. Turkey is interested in supplying energy resources of the Caspian basin to the world markets, Fatih Donmez, the Minister of Energy and Natural Resources of Turkey, said following a trilateral meeting with the Energy Ministers of Azerbaijan and Turkmenistan, Trend reports with reference ...