All news: page 5

Baku. Currently, there are two main trends affecting the global oil market, Spencer Welch, director of the oil markets and downstream team in the London-based IHS Markit told Trend. He pointed out that the oil prices currently stand at $77-78 per barrel. "Our expectation is that ...

Moscow. Production capacity of Zohr project, developed by the consortium of Eni, Rosneft, BP and Mubadala together with the Egyptian oil and gas companies, has been increased by more than 25% to more than 56. 6 mcm of gas per day (2 bcf per day). The increase has been achieved due to the ...

Moscow. Russia and Armenia agreed to review pricing for supplies of Russian gas. About this TASS said the Prime Minister of Armenia Nikol Pashinian. "Gas is actually supplied from Russia to Armenia at a rather low price. However, the problem is that consumers receive such gas at a ...

Kogalym. His Holiness Patriarch Kirill of Moscow and All Russia held a service to dedicate the Church of the Holy Martyr Tatiana in Kogalym, Khanty-Mansi Autonomous District – Yugra, today. The construction of the new church was funded by the LUKOIL Charitable Foundation, while the ...

Baku, Azerbaijan. Integration of liquefied petroleum gas (LPG) filling station and bitumen unit into the general infrastructure of the Heydar Aliyev Baku Oil Refinery has been completed, Azerbaijan’s state oil company SOCAR, which owns the refinery, told Trend. SOCAR noted that the ...

Tehran, Iran. The Iranian ambassador to Islamabad said Tehran was ready to implement a long-awaited gas pipeline project between Iran and Pakistan and help meet Pakistan’s energy needs. “Tehran is ready to meet Pakistan’s energy needs”, Mehdi Honardoost said, ...

Singapor. Oil prices rose on Monday as U. S. drilling for new production stalled and as the market eyed tighter conditions once Washington’s sanctions against Iran’s crude exports kick in from November. U. S. West Texas Intermediate (WTI) crude futures were at $67. 96 per barrel ...

Oslo. Norwegian oil company Okea plans an initial public offering (IPO) in Oslo within the next 12 months, the firm backed by Seacrest Capital said on Friday. A number of private-equity-backed firms, including Chrysaor, Neptune and Siccar Point, have entered the North Sea oil and gas sector ...

Moscow. The Nord Stream 2 gas pipeline to Europe will double Russian natural gas supplies to Germany via the Baltic Sea and reduce transit across Ukraine. With the first deep water pipes for the Nord Stream 2 project already being laid, this is a clear signal that the new natural gas ...

Baku, Azerbaijan. More than 91 percent of pipes for construction of the Trans Adriatic Pipeline (TAP) have been lowered into the ground in Greece and Albania. This is stated in the message of the consortium TAP AG. “Construction work continues in full swing. Around 700km pipes now ...

Moscow. The Gazprom Management Committee reviewed the current status of the TurkStream project. It was noted that the project was going according to schedule. Specifically, the deep-water pipelaying for the offshore part of the gas pipeline’s first string had been completed in the ...

Moscow. Russia managed to return the economy to growth despite sanctions and crises. This was stated on Thursday by Russian Prime Minister Dmitry Medvedev. "In previous years, we created a fairly good base for further development. Despite economic pressure, despite sanctions, ...

Moscow. The Gazprom Management Committee took note of the information about the progress of major investment projects. The Company continues to implement the extensive Eastern Gas Program and to build facilities associated with supplying gas to domestic consumers and to China. In ...

Vein. As OPEC has been easing the production cuts, the cartel’s crude oil production hit a 10-month high in August, as Iraq including Kurdistan pumped at record levels and Libya recovered from weeks of port blockades. Data according to the monthly survey of S & P Global Platts. ...

Singapore. Oil prices were stable on Friday, as the market balanced a fall in U. S. crude inventories to the lowest levels since 2015, with Sino-American trade tensions and economic weakness from emerging markets. U. S. West Texas Intermediate (WTI) crude futures CLc1 were at $67. 79 per ...

Bahrain. Expectations for a drop-off in Beijing's demand for foreign oil has led some market watchers to conclude that India will overtake China in the years to come in driving global oil demand. The oil and gas ministers of Bahrain and Oman have voiced concerns that China's demand for ...

Tehran. The managing director of Pars Oil and Gas Company (POGC) said China's state-owned CNPC would assume Total’s share of around 80 percent in the development of Phase 11 of South Pars. “CNPC would shoulder 80 percent of the cost of the project and Iran’s Petropars ...

Moscow. Russia – following the approval of the Rosneft open market share buyback program (the «Program») by the Board of Directors, Rosneft appointed UBS as an independent agent to conduct the open market share buyback on behalf of the Company. The Program approved by the ...