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News // Oil and gas worldwide

Norway slowly recovers from oil price slump

Norway’s economy has started to recover from the blow dealt by the oil price slump, but things are improving slowly.

10 February 2017 , 16:10Irina SlavNeftegaz.RU9440

Qatar Petroleum boss says Donald Trump «very positive» for crude oil

The head of Qatar Petroleum has shrugged off fears that any potential protectionist policies pursued by US President Trump would impact on global oil and gas markets.

08 February 2017 , 14:10Neftegaz.RU10140

Oil prices increase amid new US sanctions on Iran

Oil prices edged up on news that Donald Trump could be set to impose new sanctions on multiple Iranian entities, raising geopolitical tensions between the 2 nations.

07 February 2017 , 14:11Neftegaz.RU10000

South Korea starts generating from US shale gas

US shale gas is being used for the 1st time to generate power just a few miles from the border with hardline communist North Korea.

03 February 2017 , 14:10Neftegaz.RU22020

United Arab Emirates to invite Indian firms for upstream oil and gas investments

UAE will invite Indian firms for upstream oil and gas investments, giving the energy-deficient country a rare chance to be involved in the hydrocarbon sector of the oil-rich region that accounts for most of its energy imports.

31 January 2017 , 10:08Neftegaz.RU9430

Azerbaijan to produce more gas, less oil in 2017

Resource-rich Azerbaijan plans to produce more gas and less oil in 2017.

26 January 2017 , 10:06Nigar AbbasovaNeftegaz.RU10740

Iran-Iraq gas pipeline goes into operation on Jan. 24

Iran will begin on Tuesday the operation of a pipeline supplying natural gas to Iraq, Iran’s oil minister said Saturday.

23 January 2017 , 13:00Neftegaz.RU9670

Chinese CNOOC expects 2nd consecutive output decline, slashes 2018 target

CNOOC is aiming to cut production by 3.4 to 5.5 % this year, the 2nd annual decline in a row after 15 years of impressive growth, despite planning a rebound in project spending.

20 January 2017 , 12:11Neftegaz.RU9250

Chinese Sinosure goes big on Iranian refinery

Chinese export credit agency Sinosure has opened a $1.3 billion line of credit for the upgrade of an Iranian oil refinery.

19 January 2017 , 14:03Neftegaz.RU9310

Exxon Mobill will pay up to $6.6 bln to double its holdings in the Permian Basin

Exxon Mobil is buying about 275,000 acres in the booming Permian Basin oil fields from the Bass family for $5.6 billion in stock and $1 billion in contingent cash payouts.

18 January 2017 , 12:06Neftegaz.RU9490

India's oil demand growth rate to eclipse China's

Oil consumption in India is expected to 7-8 % this year, outpacing China's demand growth for the 3rd consecutive year, as impact of demonetisation is likely to be short-lived.

16 January 2017 , 17:37Neftegaz.RU10300

Milestone reached for Kashagan oil field

More than 7 million barrels of crude oil have been produced safely from the Kashagan oil field in Kazakhstan since September 2016, the operator said.

16 January 2017 , 10:37Neftegaz.RU10970

Azerbaijan's Socar supplies Malta's 1st LNG

Malta’s first LNG cargo, supplied by Azerbaijan's state Socar, was delivered January 11 aboard the tanker Galea.

13 January 2017 , 12:13Neftegaz.RU10790

Argentina reaches deal to tap into massive Vaca Muerta oil and gas

Argentina has clinched a deal with labour unions and energy companies aimed at luring investors to the Vaca Muerta formation in Patagonia, one of the largest shale reserves in the world.

11 January 2017 , 14:17Neftegaz.RU10120

Wood Group secures multi-million dollar Saudi Aramco contract

Wood Group has secured a 5-year multi-million dollar framework agreement with Saudi Aramco to continue providing engineering and project management services to its onshore capital programmes in the Kingdom of Saudi Arabia.

11 January 2017 , 10:11Neftegaz.RU9150

Petrofac wins $600 mln Oman deal

Petrofac has been awarded a $600 mдт (€569 mдт) contract for an extraction project in southern Oman.

09 January 2017 , 13:00Neftegaz.RU10300

Venezuelan oil minister Del Pino has been removed from his post by President Maduro

Venezuelan President Nicolas Maduro replaced Eulogio del Pino as head of the Oil Ministry in the latest attempt to get the long-suffering country back on its feet.

06 January 2017 , 10:05Neftegaz.RU9030

Belarus reduces oil export duties

Belarus reduced export duties on oil and oil products exported outside the customs territory of the Eurasian Economic Union (EEU) on 1 January 2017.

04 January 2017 , 10:12Neftegaz.RU11080

Venezuela vows to slash production, create 10 years of market stability

Venezuela, the OPEC member, whose economy has all but collapsed under the cartel's pre-cutback production frenzy that decimated crude prices, says it will reduce output by 95,000 barrels per day (bpd) in the New Year.

29 December 2016 , 18:09Neftegaz.RU10820

Iran's gas destined to Europe via Georgia and Black Sea

Head of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholam-Hossein Shafeie says Iran's gas can be exported to Europe via Georgia and the Black Sea in the near future.

26 December 2016 , 15:00Neftegaz.RU13260