Oil & Gas

Kazakhstan steps up the construction of integrated gas-chemical complex

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NUR-SULTAN, Kazakhstan - Construction of the integrated gas-chemical complex Kazakhstan Petrochemical Industries in western Kazakhstan is half completed, the press service of the Samruk-Kazyna Foundation said on 25 November. “The project will be completed by...

LUKOIL and Russia’s Nizhny Novgorod region boost energy cooperation

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In Nizhny Novgorod, LUKOIL President Vagit Alekperov and the envoy of the Russian Federation President to the Volga Federal District, Igor Komarov, and Nizhny Novgorod Region Governor Gleb Nikitin discussed on 18  November the...

Gazprom fills both strings of TurkStream with gas

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Russian gas monopoly Gazprom said on 19 November that start-up and commissioning process is in its final stage at the TurkStream or Turkish Stream gas pipeline, which is going to be brought into operation...

Blaming foreigners, Iran’s Rouhani claims victory over petrol prices unrest

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Iranian President Hassan Rouhani on 20 November claimed victory after a deadly crackdown by security forces on protests over gasoline price rises, blaming Iran’s foreign enemies. “The Iranian people have again succeeded at an historic...

Gazprom sets rules for Ukraine passage of EU gas

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Russian gas monopoly Gazprom said on 18 November that the company submitted to Naftogaz of Ukraine an official proposal signed by Gazprom CEO Alexey Miller to extend the effective contract or sign a new...

Kazakhstan to revise the deal with Karachaganak consortium

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NUR-SULTAN, Kazakhstan – Kazakhstan’s Energy Ministry expects to receive more than a previously agreed deal with Karachaganak Petroleum Operating (KPO) international consortium, Kazakhstan’s Energy Vice Minister Murat Zhurebekov said on 20 November. “We want to...

New oil field discovered in South Kazakhstan

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NUR-SULTAN, Kazakhstan - A new oil field was discovered in southern Kazakhstan, the spokeswoman for the Kazakh Ministry of Ecology, Geology and Natural Resources, Samal Ibraeva, told New Europe on 19 November. According to Ibraeva,...

Oil mess in Texas, OPEC caution gush crude prices

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A surprise drop in US crude inventories and comments from Organization of the Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo about lower-than-expected US shale production growth in 2020 boosted crude oil prices on...

Kazakhstan begins exporting gasoline to European market

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NUR-SULTAN, Kazakhstan - The Atyrau Oil Refinery began shipping the first batch of unleaded gasoline Ai-92 of ecological class K5 to European markets, the press service Kazakhstan’s Energy Ministry said on 14 November. The...

Kazakhstan slightly increases gas production

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NUR-SULTAN, Kazakhstan - Gas ​​production over 10 months of this year amounted to 46.3 billion cubic metres with an increase of 1.5% compared to the same period in 2018, Kazakhstan’s Energy Ministry said on...

IEA warns clean energy insufficient to meet growing demand

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There is a gap between the ever-higher amounts of greenhouse gas emissions being produced and the insufficiency of stated policies to curb those emissions in line with international climate targets, the International Energy Agency...

EU agrees sanctions on Turkey over Cyprus drilling

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The European Union Council adopted on 11 November a framework for restrictive measures in response to Turkey's "unauthorized drilling activities in the Eastern Mediterranean". "The framework will make it possible to sanction individuals or entities...

France, UK, Germany, EU warn Iran over nuclear breaches

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The European Union, France, Germany and Britain have said on 11 November that they are "extremely concerned" by Iran's decision to re-start nuclear activities at one of its key sites, in breach of the...

Iran discovers major oil field but unlikely to be able to profit from it...

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Iranian President Hassan Rouhani announced on 10 November in a speech in the desert city of Yazd that his country has discovered a new oil field in the country’s south with over 50 billion...

Unstoppable Nord Stream-2

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The Nord Stream-2 pipeline, which late last month obtained a permit to construct its planned pipeline system in the Danish Exclusive Economic Zone (EEZ) southeast of Bornholm, is now ready to complete the final...

Brussels casts Zaev a thin lifeline

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Brussels cast a thin Italian-flavoured political lifeline to North Macedonia’s Prime Minister Zoran Zaev over the last ten days, something sorely needed after Zaev had badly managed his public reactions in the period immediately...

UK gets shakes over gas fracking, shuts it down

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The British government has announced that it is imposing a moratorium on fracking over earthquake risks, ending shale gas plans in the UK. The amount of actual production that was going to come out from...

Saudi Aramco prepares IPO on Tadawul

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Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia, announced on 3 November in a press release the company’s intention to proceed...

Kazakhstan says is too early to raise the budget for new Tengiz expansion

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NUR-SULTAN, Kazakhstan - Kazakhstan Energy Minister Kanat Bozumbayev said on 6 November he believes that the new budget of the Tengiz expansion project is too high and should be reviewed. He said it is too...

Greece’s Energean confirms higher than expected resources at Israeli field

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Greece’s Energean Oil and Gas announced on 4 November the successful appraisal of the Karish North Discovery, confirming best estimate recoverable resources of 25 billion cubic metres plus 34 million barrels of light oil...

Nord Stream-2 gets go-ahead for Denmark build

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The fact that Nord Stream-2 could be operational in early 2020 puts additional pressure to reach a successful conclusion of EU-Ukraine-Russia gas talks, Oxford expert tells NE   The Nord Stream-2 pipeline obtained on 30 October...

EU disappointed with gas talks, urges Russia, Ukraine to show political will in November

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The European Union is disappointed that there was no “positive progress” during the trilateral meeting on Russian gas transit via Ukraine to Europe on 28 October, European Vice President for Energy Union Maroš Šefčovič...

Resumption of peace talks may pause Turkish drilling in Cyprus EEZ

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Incoming new EU Commission may be keener on negotiations to resolve regional East Med problems LIMASSOL, Cyprus – The possible resumption of the dormant peace talks when Cypriot President Nicos Anastasiades and Turkish Cypriot leader...

Belarus intends to buy Kazakh oil

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NUR-SULTAN, Kazakhstan - Belarus and Russia will discuss conditions for transporting Kazakh oil to Belarus through Russian territory in the near future, Belarus President Alexander Lukashenko told reporters on 25 October after talks with...

Kazakhstan to increase oil production to 100 million tonnes over next 5 years

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NUR-SULTAN, Kazakhstan - Kazakhstan will increase oil production from 90 million tonnes in 2020 to 100 million tonnes in 2024, Kazakh Minister of National Economy Ruslan Dalenov said on 23 October. According to him, an...

Canada’s Trudeau wins minority government

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Canada's incumbent Prime Minister Justin Trudeau won a closely fought election on 21 October and will now have to form a minority government after his Liberal party secured 157 seats in the 338-seat parliament. Trudeau...

Kazakhstan discusses oil export to Kyrgyzstan without customs duties

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NUR-SULTAN, Kazakhstan - Negotiations between Kazakhstan and Kyrgyzstan on the possible export of Kazakh gasoline and oil are still ongoing, Kazakhstan's Energy Minister Kanat Bozumbayev said on 22 October. “We have not yet got consensus...

NCOC and Shell drop Kalamkas-Sea and Khazar projects in Kazakhstan

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NUR-SULTAN, Kazakhstan - The North Caspian Operating Company (NCOC) consortium, whose shareholders are Kazakhstan’s Kazmunaygas (16.88%), Royal Dutch Shell, US’ ExxonMobil, France’s Total and Italy’s ENI (16.81% each), as well as Chinese CNPC (8.33%)...

EU countries stall EIB plans to phase out funding for fossil fuels

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The European Investment Bank (EIB) on 15 October postponed taking a decision to next month on whether to phase out lending to fossil fuels, following objections from the European Commission and some EU Member...

ARAMCO towards the world’s most anticipated IPO

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Saudi Arabia is expected to greenlight a small initial public offering of Aramco, a company that is valued by the Kingdom at $2 trillion but experts believe it is closer to $1,5 trillion. The listing...

Russia, Germany discuss gas transit across Ukraine

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Russia and Germany discussed in Moscow on 9 October issues related to supplies of Russian natural gas to Europe in the period from 1 January 2020, during a meeting of Gazprom CEO Alexey Miller...

Novatek launches East-Urengoyskoye+North-Esetinskoye field

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Russia’s largest independent gas producer announced on 10 October that Arcticgas, a joint venture between Novatek and PAO Gazprom Neft, commenced commercial production at the East-Urengoyskoye+North-Esetinskoye field within the Samburgskiy license area, with estimated...

LUKOIL and Komi republic enhance cooperation

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LUKOIL President Vagit Alekperov and Komi Republic head Sergey Gaplikov signed Agreement on Cooperation for 2020 – 2024 in the city of Usinsk, on 7 October, the Russian oil company said. According to the agreement,...

At Cairo summit, Turkey slammed for drilling in Cyprus’ EEZ

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At a trilateral summit between Egypt, Cyprus and Greece in Cairo on 8 October, the leaders of the three countries slammed Turkey's drilling in Cyprus' Exclusive Economic Zone (EEZ). AP quoted Egypt’s President Abdel-Fattah el-Sissi,...

Kazakhstan to ink deal with Austria’s Borealis before year-end

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NUR-SULTAN, Kazakhstan - The project for the construction of a polyethylene production plant should be completed in 2021, Kazakhstan’s Energy First Vice Minister Makhambet Dosmukhambetov said on 3 October. “The construction of the polypropylene plant...

Meeting Erdogan at UN, Mitsotakis eyes calmer waters

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The meeting between Greece's newly elected Prime Minister Kyriakos Mitsotakis and Turkey’s President Recep Tayyip Erdogan on the sidelines of the United Nations General Assembly in New York on 25 September at a time...

OPEC: Oil and gas will keep a dominant position in energy market until 2040

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NUR-SULTAN, Kazakhstan - Hydrocarbons will keep a dominant position in the energy market until 2040, OPEC Secretary General Mohammed Barkindo said in the capital of Kazakhstan on 26 September. “On November 5 this year, OPEC...