All news: page 8

Beijing. The first Chinese-manufactured and operated offshore drilling platform has started operations in the South China Sea in recent days, according to the China National Offshore Oil Corporation (CNOOC). The deepwater rig, drilling down to 4, 660 meters, will be used to supply ...

Washington. U. S. sanctions on Iran are also hitting some of the Islamic Republic’s closest allies. Drivers in Damascus are queuing up for miles to get just a few gallons of gasoline after Iranian oil shipments to the war-ravaged country ended. Syria consumes 100, 000 barrels of ...

Washington. Oil prices continue to rally, but not all is well in the US shale patch as drillers are facing both operational issues and have laid off hundreds of people. US shale drillers have run into a series of problems that have resulted in increased scrutiny on their operations. The ...

Baku. Around 98 % of pipes of the Trans Adriatic Pipeline (TAP) are back-filled in Albania, Trend reports citing TAP AG consortium. “In April 2016, the first TAP pipes arrived in Albania shipments of steel pipes, equipment and machinery were being offloaded in the port of ...

Tokyo. Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies kept prices well supported. Brent crude oil futures were at $71. 46 a barrel at 0233 GMT, down 9 cents, or 0. 1 percent, from ...

Baku. UK EXPRO international oilfield service company is looking at expanding its core services within three key areas in Azerbaijan, the company told Trend. These are the well test and appraisal services, subsea, completion and intervention services and production services, said EXPRO. ...

Moscow. President of LUKOIL Vagit Alekperov and the Head of Astrakhan Region, Sergey Morozov, signed a protocol to the cooperation agreement between the company and the region for 2019, in Astrakhan today. According to the document, LUKOIL will finance renovation of school buildings in ...

Moscow. Turkish President Recep Tayyip Erdogan may have adopted a tough stance on the issue of Russian gas prices at Moscow talks with Russian President Vladimir Putin to show Washington that Ankara remains an independent player despite purchasing S-400 missile defense systems from Moscow, ...

Singapore. Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U. S. sanctions on petroleum exporters Iran and Venezuela. International Brent crude oil futures were at $71. 01 per barrel at 0042 GMT, up 18 cents, or 0. 3 percent, from their ...

Ottawa. Canada’s oil and gas industry could shed another 12, 500 and more jobs this year, which would bring the total job losses over the past five years to 23 percent of the 2014 total, which stood at 226, 500. These are among the findings of a report by PetroLMI, the labor market ...

Moscow. Zvezda Shipbuilding Complex and Sovkomflot PJSC have signed a contract to make a pilot gas carrier vessel for the Arctic LNG 2 project. The contract states that the vessel shall be delivered in Q1 2023. Zvezda Shipbuilding Complex has unique equipment for Russian shipyards, as well ...

St. Petersburg. A number of Swedish companies, including those participating in the fifth International Arctic Forum in St. Petersburg, are interested in joint projects with their Russian colleagues, Bjorn Lyrvall, Senior Arctic Official for Sweden told TASS in an interview on the sidelines ...

Moscow. PAO NOVATEK reported today preliminary operating data for the first quarter 2019. In the first quarter 2019, NOVATEK’s hydrocarbon production totaled 147. 1 million barrels of oil equivalent (boe), including 18. 66 billion cubic meters (bcm) of natural gas and 2, 987 thousand ...

Singapore. Oil prices fell on Thursday after U. S. crude stockpiles surged to their highest levels in almost 17 months amid record production. International benchmark Brent futures were at $71. 57 per barrel at 0056 GMT, down 16 cents, or 0. 2 percent, from their last close. U. S. ...

Moscow. The Program for standardization of developing technologies and equipment in oil refining, petrochemistry, and natural gas processing and liquefaction, particularly for projects on gravity-based structures with LNG production trains and for gas carriers transporting LNG, was signed today ...

Moscow. The Arctic region accounts for more than 10 percent of all investments in the Russian economy, according to President Vladimir Putin. The country is working on a new strategy for the region’s development, he added. Speaking at the 5th International Arctic Forum in St. ...

St. Petersburg. Russia will continue its cooperation with OPEC, President Vladimir Putin said speaking at the International Arctic Forum on Tuesday. When asked whether the crises in Venezuela, Iran, Libya may lead to the situation when there will be no need to restrain oil prices, the ...

Baku. Greece and Bulgaria have agreed to work on the updated schedule of the Interconnector Greece-Bulgaria (IGB), which envisages transportation of Azerbaijani gas, Trend reports. The remarks were made during a meeting between Bulgaria’s Energy Minister Temenuzhka Petkova and Greek ...