All news: page 7

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 ...

Moscow. A train derailment has resulted in a crude oil spill in the central Canadian province of Manitoba, the Winnipeg Free Press reported. According to the Winnipeg Free Press newspaper, 37 crude oil cars derailed at 3:30 a. m. local time on Saturday (09:30 GMT) near the town of St. ...

Trend's exclusive interview with Romanian Secretary of State Iulian-Robert Tudorache ahead of the 5th meeting of the Southern Gas Corridor Advisory Council in Baku Question: Romania will be able to receive Azerbaijani gas via BRUA pipeline. How much Azerbaijani gas do you expect to receive ...

Nairobi. Kenya summoned its ambassador to Somalia after the Horn of Africa neighbor decided to auction offshore oil and gas blocks the nation considers to be in its territory. The East African nations have been embroiled in a maritime dispute, which Somalia in 2015 presented to the ...

Baku. The main equipment for the project to expand the production capacity of the Tengiz oil and gas field in Kazakhstan is being manufactured in Kazakhstan, South Korea and Italy, Trend reports via Kazakh media. "After pre-assembly of the equipment into modules, they will be sent to ...

Singapore. Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U. S. sanctions on Iran and Venezuela. U. S. West Texas Intermediate (WTI) crude oil futures pushed through $56 per barrel for the first time this year, hitting $56. ...

Milan. Italian oil company Eni beat expectations with a 55 percent jump in fourth quarter profit as higher prices, mainly gas, offset a dip in production. Adjusted net profit was 1. 459 billion euros ($1. 65 billion), above an analyst consensus forecast provided by the company of 1. 19 ...

Moscow. Russia will remain the world's largest exporter of energy resources by 2040, satisfying 5 percent of global demand, and will also retain its position as one of the largest producers of fossil fuels, UK petroleum giant BP said in its annual report out. "Russia remains the ...