All news: page 7

Atyrau. 1, 5 million tons of sulfur has been extracted from the oil produced at Kashagan field, Atyrau region, Kazinform reports. "In October 2017, we started exporting Kashagan sulphur by railway. Production of granulated sulfur has increased. By the end of the year export of ...

Riyadh. Saudi Aramco finalized a deal on Wednesday with Malaysian state energy company Petroliam Nasional Berhad (Petronas) to invest in a refinery project off Malaysia. The Saudi oil giant agreed in February last year to buy a $7 billion stake in Petronas’ Petrochemical Integrated ...

Moscow. PAO NOVATEK signed an additional agreement to the Agreement on Cooperation with the Government of the Yamalo-Nenets Autonomous District (YNAO). The additional agreement provides the financial support of indigenous people, as well as implementation of social, educational and ...

Singapore. Oil prices rose on Thursday as the producer cartel OPEC and other suppliers look set to continue withholding output for the rest of the year and potentially into 2019. U. S. WTI crude futures CLc1 were at $64. 57 a barrel at 0242 GMT, up 19 cents, or 0. 2 percent, from their ...

Vienna. Investment in the oil industry is increasing as oil prices recover but has not yet reached the level prior to the market’s 2014 downturn, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC) told reporters on Wednesday, Reuters reports. ...

Baku. In the next few years, Azerbaijan will solve the export diversification issue in order to switch from the economy that receives more revenues from the oil and gas industry to economy oriented to non-primary sectors, Alexander Karavaev, Russian political expert, Deputy Director of the ...

Moscow. China is the world's biggest crude consumer and buys most of its oil from Russia. However, most settlements are still in US dollars. The launch of the petro-yuan now allows Moscow and Beijing to use national currencies instead. China and Russia are actively reducing dependence ...

Moscow. Gazprom and Naftogaz of Ukraine started talks on termination of gas supply and transit contracts, Deputy CEO of the Russian holding Alexander Medvedev told reporters on Tuesday. "Indeed, the meeting between Gazprom and Naftogaz of Ukraine took place last week. The negotiation ...

Moscow. NOVATEK announced tuesday that NOVATEK Gas and Power Asia Pte. Ltd. , a wholly owned subsidiary, has shipped to the Indian market its first cargo with LNG produced by the Yamal LNG project. NOVATEK’s First Deputy Chairman of the Management Board Lev Feodosyev noted: ...

Moscow. A consortium of the Russian oil producer Lukoil and Italy’s Eni won Oil and Gas Block 28 located in the Gulf of Mexico during an auction held by Mexico’s national hydrocarbons commission. Lukoil and Eni offered the highest royalty of 65%. A consortium of Dea and Premier ...

Singapore. Oil prices fell on Wednesday, with Brent dropping back below $70 per barrel and U. S. West Texas Intermediate crudes dipping below $65, pulled down by a report of increasing U. S. crude inventories that surprised many traders. U. S. WTI crude futures CLc1 were at $64. 71 a ...

Baku. Iranian President Hassan Rouhani has said that he plans to ink a document on cooperation with Baku regarding the oil and gas fields of the Caspian Sea during his upcoming visit on Wednesday. Speaking to reporters at Tehran’s Mehrabad airport, the president called for deepening ...

New York. China’s launch on Monday of its crude futures exchange will improve the clout of the yuan in financial markets and could threaten the international primacy of the dollar, argues a new report by Hayden Briscoe, APAC head of fixed income at UBS Asset Management. “This is ...

New-York. Appalachia is about to turn into the largest gas-producing region in America, accounting for 37 percent of the total by 2040, a study by IHS Markit commissioned by a lobby group has suggested. The group, dubbed Shale Crescent USA, is on a mission to promote the attractive business ...

Doha. Qatar Foundation for Education, Science and Community Development and Russia's energy giant Rosneft will create a joint center for research in the energy sphere, a spokesperson for the Qatari Foreign Ministry told Sputnik on Sunday. Earlier in the day, Qatari Emir Tamim bin ...

Abu Dhabi. Abu Dhabi National Oil Company said Monday it has awarded two contracts worth $3. 5 billion to South Korea's Samsung Engineering to boost output at the largest refinery in the United Arab Emirates. ADNOC's announcement came as South Korea's President Moon Jae-in was ...

Baku. Trans Adriatic Pipeline (TAP), envisaging transportation of Azerbaijani gas to Europe, is a very important project for Albania and the entire region, said Albanian Minister of Infrastructure and Energy Damian Gjiknuri. He made the remarks during presentation of Albania's national ...

Moscow. The Shanghai International Energy Exchange (INE) has started trading in yuan-denominated oil futures earlier today. If the instrument turns out to be a liquid one, price pegging of the Russian ESPO export blend to the China contract will favorable influence on the Russian oil blend ...