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Tokyo. Oil rose for a second day on Friday, extending sharp gains following attacks on two oil tankers in the Gulf of Oman that stoked concerns of reduced crude flows through one of the world’s key shipping routes. The attacks near Iran and the Strait of Hormuz pushed oil prices up as ...

Moscow. China’s national energy companies are set to channel more of their overseas investment to Africa than to any other continent as they hunt for new pockets of oil and gas. Africa will account for more than $15 billion of their upstream capital expenditure over the next five years, ...

Teheran. Iran is revising its economic policies in order to make its economy independent from oil and fend off the consequences of US sanctions against the Islamic Republic, Foreign Minister Mohammad Javad Zarif has announced. The top Iranian diplomat met his Japanese counterpart Taro Kono ...

Moscow. The loading of the Druzhba pipeline may be restored to the level prior to the incident with contamination and subsequent transit suspension within the next 2-3 months, Vice President of Russia’s pipeline operator Transneft Rashid Sharipov told a telephone conference, informs TASS. ...

Baku. In January-May 2019, Azerbaijani gas supplies from the Shah Deniz field to Turkey via the Trans-Anatolian Natural Gas Pipeline (TANAP) amounted to 790 million cubic meters, Trend reports referring to Azerbaijan’s state oil company SOCAR. June 12, 2019, marks a year after the ...

Tokyo. Oil prices fell for a second day on Thursday, extending declines of as much as 4% in the previous session, on continued increases in U. S. crude stockpiles and concerns about lower demand growth. Brent crude futures were down 6 cents, or 0. 1%, at $59. 91 a barrel by 0336 GMT ...

Baku. Azerbaijan obtained revenues worth $10. 69 million (18. 1 million manats) from the transit of oil and gas in 2018, Trend reports referring to the report of the Azerbaijani Chamber of Accounts. According to the report, the amount of the revenues is by 188, 200 manats more than the ...

Moscow. In10 days, the Indian government held three internal meetings to figure out ways to resume importing Iranian crude oil. A few shipments arrived in India from Iran after the deadline for the US' oil sanctions waivers, on 2 May. New Delhi (Sputnik): In a significant development, ...

Moscow. Russian Energy Minister Alexander Novak did not rule out that oil prices could fall to $30 per barrel due to overproduction, the Minister told reporters after the meeting of the Russian-Saudi intergovernmental commission on trade, economic and scientific and technical cooperation. ...

Baku. Azerbaijan exported 222, 900 tons of crude oil to Turkey in January-March 2019, Trend informs with reference to a report posted on the website of Turkish Energy Market Regulatory Authority (EPDK). The volume of crude oil exported from Azerbaijan to Turkey in March 2019 amounted to 15, ...

Singapore. Oil prices stabilized on Tuesday on expectations that producer group OPEC and its allies will keep withholding supply to prevent prices from tumbling amid a broad economic slowdown which has started eating away at fuel demand growth. U. S. West Texas Intermediate (WTI) crude ...

Moscow. At the 23rd St. Petersburg International Economic Forum, President of LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGaz Alik Aidarbayev have signed Heads of Agreement on the I-P-2 block located in the Kazakh Sector of the Caspian Sea. The Heads of ...

Moscow. Oil bulls thought 2020 would be their year. After half a decade of lower spending on new projects, oil production growth was supposed to slow to a trickle just as demand was supercharged by a once-in-a-generation shake up in the shipping fuel market. Many market commentators predicted ...

Moscow. OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June, said Khalid al-Falih, the energy minister of OPEC’s largest producer and de facto leader, Saudi Arabia. “On the OPEC side, a rollover is almost ...

St. Petersburg. The Danish section of the Nord Stream-2 gas pipeline can be built in a maximum of five weeks, regardless of the route, the deadline for issuing a permit and observing the construction schedule has not yet come, Gazprom Chairman Alexey Miller told reporters at the St. Petersburg ...

Singapore. Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief as the United States withdrew its threat to impose import tariffs on Mexico, removing one cloud over the global economy. Front-month Brent crude ...

Moscow. President of LUKOIL Vagit Alekperov has met with Thamir Abbas Ghadhban Al Ghadhban, Deputy Prime Minister and Minister of Oil of the Republic of Iraq, at the St. Petersburg International Economic Forum. The parties discussed the progress of West Qurna-2 project and agreed to ...

St. Petersburg. Russian Energy Minister Alexander Novak held a bilateral meeting with his Saudi counterpart Khalid al-Falih on the sidelines of the St. Petersburg International Economic Forum (SPIEF) on Thursday evening. The Russian minister told journalists after the meeting no decisions ...