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Baku, Azerbaijan. In 2018, SOCAR, through its subsidiary SOCAR Georgia Gas, plans to supply 1. 8 billion cubic meters of gas to Georgia, which is 28. 57 percent more than in the previous year, the company's annual report reads. In 2017 SOCAR Georgia Gas imported 1. 4 billion cubic ...

Karaganda. An oil refinery will be built in Zhanaarka district, Karaganda region. It will be built in the territory of 100 ha, Kazinform reports referring to the regional administration's press service. It is also planned to build a small town there with its sports complex, ...

Moscow. The OPEC+ monitoring committee will analyze the forecast of the oil market situation for the next year to assess a necessary oil production level in the deal’s member nations, the Russian energy ministry said on Sunday after a ministerial meeting in Algiers earlier in the day. ...

Baku, Azerbaijan. Creation of the Azerbaijan-Iran-Georgia energy corridor is one of the priority issues, the Azerbaijani Energy Ministry told Trend. "The current capacity of import and export of electricity between the energy systems of Azerbaijan and Georgia is 650 megawatts, between ...

Singapore. Oil prices rose on Monday as U. S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran, with U. S. bank J. P. Morgan warning of price spikes above $90 per barrel in coming months. Brent crude futures LCOc1 were at $79. 71 per ...

Barselona. Only a small proportion of gas consumed in Europe comes from liquefied natural gas (LNG) terminals, which are used as a backup for a pipeline gas system, France's ENGIE Executive Vice President Pierre Chareyre said on Wednesday. "At the moment, the LNG is a very ...

Baku, Azerbaijan. The work is underway to design an exploration well at the Shafag-Asiman block of fields, BP Azerbaijan told Trend. The work is based on 3D seismic survey, the company said. "It will be possible to talk about further plans after drilling the first well, in case ...

Khanty-Mansiisk. In January 20. 495 mln tons of oil were produced in KhMAD in August, which is 0. 41 mln tons more than in July, according to the estimates by the Oil and Gas Information Agency. The average daily production increased by 7. 1 thous. t and amounted to 661. 1 thousand tons. ...

In 2018 Belarusian Oil Company intends to export as much oil products as it did last year – 11 million tonnes, BelTA learned from Deputy Director General of ZAO Belarusian Oil Company Sergei Grib during the international conference held on 20 September to discuss production, trade, and ...

Baku, Azerbaijan. On September 19, Uzbekistan’s Uzbekenergo JSC and South Korea’s KT Corporation signed an additional agreement to implement the “Automated System for Accounting and Control of Electricity Consumption” project, Uzbek media reported. The project is ...

Seoul. Oil prices dipped on Friday after falling in the previous session as U. S. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend. International benchmark Brent crude for November delivery LCOc1 was down 3 cents at $78. 67 a barrel by 0207 ...

Baku. Azerbaijan must use the experience gained in cooperation with foreign oil and gas companies to develop alternative energy, Azerbaijani Energy Minister Parviz Shahbazov said Sept. 20 during the 7th International Caspian Energy Forum Baku-2018. A legislative base is being created to use ...

Nnew DelhiI. Many Indians are switching off air conditioners in cars and going to gas pumps across state borders in a bid to save money, as petrol prices across the country hover at record-high levels. Protests against high petrol and diesel prices paralyzed many parts of India earlier ...

Bagdad. A new report on Iraq's oil production capability says a series of problems, including export bottlenecks caused by a lack of infrastructure, will continue to limit the country's oil output for years to come. The report, penned by the London-based consulting firm IHS ...

Baku. Initial engineering and design work as part of the SOCAR GPC Project, which envisages construction of a gas processing and petrochemical complex, has been completed, SOCAR President Rovnag Abdullayev said Sept. 19. He was speaking at an event dedicated to the Oilman’s Day in ...

Moscow. Russia plans to allocate over 40. 6 bln rubles ($607. 8 mln) worth of federal budget funds for the development of the Northern Sea Route in the next three years, according to the explanatory note to the draft federal budget for 2019 and the planned period of 2020 and 2021. "The ...

Tokyo. Oil rose for a third day on Thursday amid another drawdown in U. S. inventories and strong U. S. gasoline demand, while signs OPEC may not raise output to address shrinking supplies from Iran also supported prices. Global benchmark Brent crude LCOc1 was up by 20 cents, or 0. 3 ...

Warsaw. Polish President Andrzej Duda told the Polish TV on Tuesday that US President Donald Trump can make a decision that would bring the Nord Stream 2 gas pipeline project to a halt. "The decision is in the US president’s hands, " Duda said when asked whether an ...