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Oil prices rose on Friday as the U. S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico, Reuters reported. The storm has rapidly intensified since Thursday, spinning into ...

Moscow. Russia will produce about 106 mln tonnes in its Arctic area in 2017. Deputy Energy Minister Kirill Molodtsov said at a press conference in TASS on Thursday. "We have an increment of 23% in offshore oil production in six months; we expect adding at least 10% in the Arctic area. ...

Moscow. Global oil major Shell will double the number of its retail sites in Russia in midterm. Chief executive of Shell Neft, its Russian affiliate, Sergey Starodubtsev said on Wednesday. "We plan to double the number of retail sites in Russia in midterm, " Starodubtsev ...

Baku. World oil prices are volatile on Aug. 24 ahead of the expected closure of platforms in the Gulf of Mexico due to the tropical storm. The price for October futures of Brent oil has decreased by 0. 02 percent to $52. 56 per barrel as of 06:47 (UTC + 4). The price for September futures of ...

Baku. Azerbaijani state oil company SOCAR has commissioned a fixed offshore platform #1183 after major overhaul at the Palchig Pilpilasi offshore field, SOCAR said in message. “Major overhaul was carried out at an area of 1, 619 square meters and anti-corrosion measures were ...

Paris. France’s oil and gas giant Total is set to join Russia’s Arctic LNG-2 project on the Gydan Peninsula, the country’s business paper, La Gazette de l’Eco Economie, reported on Wednesday. "France’s biggest corporation Total is set to join the Arctic ...

Baku. Iran’s petrochemical products export volume is expected to reach 11. 5 million tons in the first half of current fiscal year (started on March 21), while the revenues will reach $5. 25 billion, show the statistics of the Iran’s National Petrochemical Company’s official ...

Moscow. Gazprom plans to build 1, 300 km of the Power of Siberia gas pipeline for deliveries of Russian gas to China by 2017 year-end. The Russian gas holding said in its press release on Tuesday. Construction work is ahead of schedule, the company said. About 979 kilometers of the gas ...

London. Oil prices fell on Wednesday, weighed down by concerns of oversupply as Libyan output improves and as U. S. gasoline inventories rose despite the peak summer driving season. Brent crude futures LCOc1, the international benchmark for oil prices, were at $51. 75 per barrel at 0415 ...

Oxford. The number of countries buying liquefied natural gas (LNG) from the US can increase, Professor Jonathan Stern, distinguished research fellow at Oxford Institute for Energy Studies, told Trend. “Poland, the Baltic countries and Ukraine buy US LNG because they regard ...

St. Petersburg. A working meeting between Alexey Miller, chairman of the Gazprom management committee, and Rovnag Abdullayev, president of the State oil company of the Azerbaijan Republic (SOCAR), took place in St. Petersburg today. The parties discussed issues related to natural gas ...

Moscow. The compliance level of OPEC and participating non-OPEC countries has dropped from 98 percent in June to 94 percent in July, according to the estimations of OPEC Joint Ministerial Monitoring Committee. The meeting of the OPEC/non-OPEC Joint Technical Committee kicked off on Aug. 21 in ...

Singapore. Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. Brent crude futures, LCOc1 the international benchmark for oil prices, were at $51. 91 per barrel at 0607 GMT, up 25 cents, or 0. 5 percent, from their last ...

Moscow. Rosneft successfully closed strategic transaction for the acquisition of 49. 13% of shares of Essar Oil Limited (EOL) from Essar Energy Holdings Limited (EOL) and its affiliates. An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a ...

Baku, Lima. Peru can benefit from Azerbaijan’s experience in the oil and gas sector, Charge d'Affaires e. p. of Peruvian embassy in Baku Luis Chang Boldrini said in an interview with Trend. "Peru is willing to consolidate its oil and gas industry and there are great ...

Baku. The meeting between the representatives of the Administration of the Government of Georgia, the Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Georgia and the delegation of the Caspian European Club and Caspian Energy International Media Group has focused on establishing of ...

The Russian Energy Ministry will shortly draw up a proposal on binding use of domestic transport infrastructure by Belarusian refineries during shipment of goods. Minister Alexander Novak said on Friday. "We have received such an assignment and started working on details now, " ...

Singapore. Ten sailors are missing after a U. S. warship collided with an oil tanker east of Singapore on Monday, the U. S. Navy said. The second accident involving U. S. Navy destroyers in Asian waters in little more than two months. The guided-missile destroyer USS John S. McCain ...