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Moscow. "Gazprom Neft" (the “Company”) today announces its IFRS consolidated financial statements for the 12 months ended 31 December 2018 (FY2018). - Net profit for FY2018 of RUB376. 7 billion, a 48. 7 % increase year-on-year - Adjusted EBITDA* of RUB800 billion, ...

Singapore. Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets. International Brent crude futures were at $66. ...

Baku. Bulgaria-Romania-Hungary-Austria (BRUA) pipeline is an essential link for Azerbaijani gas supply to Europe, Secretary of State with Romanian Ministry of Energy Iulian-Robert Tudorache said in an exclusive interview with Trend. He pointed out that along with the Interconnector between ...

Astana. Uzbekistan is ready to buy up to 2mn tonnes of Kazakh oil every year, according to Minister of Energy Kanat Bozumbayev. "Kazakhstan supplied more than 260, 000 tonnes of oil to Uzbekistan in 2018, " said Bozumbayev while presenting the draft law "On ratification of the ...

Moscow. PAO NOVATEK released its audited consolidated financial statements for the year ended 31 December 2018 prepared in accordance with International Financial Reporting Standards (“IFRS”). In 2018, total revenues amounted to RR 831. 8 billion and Normalized EBITDA, ...

Washington. Austria to continue developing the Nord Stream 2 gas pipeline project and will buy gas from Russia because it is cheaper than American gas, Austrian Chancellor Sebastian Kurz told after talks with US President Donald Trump in Washington. Kurz noted that at the meeting, Trump ...

Singapore. Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U. S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy. U. S. West Texas Intermediate (WTI) crude oil futures were at $57. 33 ...

Baku. The delegation, which included State Secretary of the Romanian Ministry of Energy Iulian-Robert Tudorache, representatives of the Romanian companies Transgaz and Romgaz, visited Azerbaijan’s Energy Ministry, Trend reports with reference to the ministry. Tudorache said that he ...

Moscow. The 60-million tonne per year refinery-cum-petrochemical complex had been facing stiff resistance from farmers on India's west coast as they fear that the refinery, conceived as the largest such facility in the world, would damage farm produce. The Indian government has decided ...

Moscow. Rosneft Chairman of the Board of Directors Gerhard Schroeder had a meeting with the management of Rosneft Deutschland GmbH in the company’s office in Berlin and got acquainted with business strategy of Rosneft Deutschland for 2019. During the meeting, representatives of Rosneft ...

Baku. BP plans to ramp up production at Azerbaijan’s Shah Deniz gas field, Bakhtiyar Aslanbayli, BP’s vice president for Azerbaijan, Georgia and Turkey, said. “We expect flat oil production from Azeri-Chirag-Guneshli (ACG) and a rise in gas production at Shah Deniz in ...

Singapore. Oil prices were around 2019 highs on Wednesday, propped up by supply cuts led by producer club OPEC and by U. S. sanctions on Iran and Venezuela. But soaring U. S. production and expectations of an economic slowdown look set to cap prices, analysts said. U. S. West Texas ...

Moscow. LUKOIL announces the results of the reserves assessment and independent audit as of December 31, 2018. ​According to the SEC classification, the Company's proved hydrocarbon reserves totaled 15. 9 billion barrels of oil equivalent, 76% of which stood for liquids. The ...

Baku. The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, is 85. 2 percent complete as of January 2019, Trend reports citing the website of TAP AG consortium. “TAP is currently moving further into the project construction phase. ...

More than 45, 000 Kazakhstanis are engaged in Tengiz project expansion. This is reported by Kazinform. "All the Kazakh employees are engaged in the Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP). This is 91% of the total number of project personnel in Kazakhstan. ...

Caracas. The Venezuelan state-owned oil company PDVSA (Petroleos de Venezuela) has denied Sunday reports that the Russian Gazprombank had decided to freeze its accounts. This is according to the statement the company published on its Twitter account. "PDVSA categorically denies a new ...

St. Petersburg. A pilot “Digital Substation” IT suite has gone into operation at Gazprom Neft’s Omsk Refinery, with this new facility set to become a vital element in moving its energy control system to an entirely digital format, delivering significant improvements in ...

Singapore. Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by producer cartel OPEC still meant markets were relatively tight. International Brent crude oil futures were at $66. 08 per ...