Oil & Gas

Nord Stream-2 calls on EU court to annul ‘discriminatory measures’

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Nord Stream-2, the company building a controversial second pipeline from Russia to Germany under the Baltic Sea, brought an action on 25 July for annulment before the Court of Justice of the European Union. “Nord...

US invests $5.3 billion in Kazakhstan’s economy in 2018

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NUR-SULTAN, Kazakhstan – The influx of US investment in the Kazakh economy increased by 44.7% and set a new absolute record, reaching a level of $ 5.3 billion in 2018, the head of the...

Offshore hydrocarbon development in Greece is a window to the future

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ATHENS – The latest developments in the hydrocarbons research and development process in the wider Black Sea- Southeast Europe- Eastern Mediterranean area highlight significant natural gas discoveries in the Romanian sector of the Black...

Iran escalates tensions in the Persian Gulf after seizing UK tanker

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In the latest escalation in the Persian Gulf region, Iran’s Islamic Revolutionary Guard reportedly captured a British-flagged oil tanker in the Strait of Hormuz on 19 July, the same day that the Gibraltar government...

Turkey rebuffs calls to back off Cyprus gas hunt

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Turkey has denied claims it is acting illegally by drilling for gas in waters off Cyprus with Foreign Minister Mevlut Cavusoglu saying on 14 July his country would continue to drill off the island...

Russia’s Tatneft, KazMunayGaz ink MoU to develop oil and gas cooperation

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Kazakhstan’s state oil and has company and Russia’s Tatneft on 11 July signed a Memorandum of Understanding to boost oil and gas cooperation between the two companies. KazMunayGas Chairman Alik Aidarbayev and Samruk-Kazyna Chairman Akhmetzhan...

CPC pipeline modernisation to boost transfer of Kazakh oil via Russia

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The Caspian Pipeline Consortium (CPC) said the company plans a new modernisation project, which will increase the transportation of Kazakh oil from the current 61 million tonnes of oil per year to 72.5 million...

Russia floats nuke plant

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MURMANSK, Russia – Onboard the Akademik Lomonosov, Russia’s first Floating Nuclear Power Plant, there is already excited movement as preparations are being made for the long trip from Murmansk, in the far northwest of...

The Name Dispute after the July 7 Greek elections

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The June 2018 Prespes Agreement, which settled the so-called Name Dispute with newly-renamed North Macedonia, Greece’s northern neighbor, was an important but not the leading issue in the Greek parliamentary election campaign, except in...

Nord Stream-2 pulls plug on Danish route for Russian gas

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Nord Stream-2 has formally withdrawn its application for the route through Danish territorial waters south of Bornholm in Denmark. The pipeline company that plans to transport natural gas underneath the Baltic Sea from Russia to...

Kazakhstan backs renewal of OPEC+ oil production cut deal

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NUR-SULTAN, Kazakhstan - Saudi King Salman bin Abdulaziz Al Saud phoned Kazakh President Kasym-Zhomart Tokayev on 2 July with the latter noting Kazakhstan’s support for the extension of the OPEC+ oil production cut agreement, Akorda reported. “Kassym-Zhomart...

Greece’s Energean, Israel’s INGL ink infrastructure hand over deal

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Greece’s Energean Oil and Gas announced on 25 June that it has signed a Detailed Agreement with Israel Natural Gas Lines (INGL) for the hand over of the near shore and onshore part of...

KazTransOil and Transneft reach consensus for contaminated oil

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NUR-SULTAN, Kazakhstan – Kazakhstan’s KazTransOil and Russia’s Transneft have reached an agreement on compensation for damage to Kazakh consignors for the shipment of contaminated oil in the Russian port of Ust-Luga, the press service...

Rosneft to fuel Turkish Airlines planes in Russian airports

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Rosneft Aero, the operator of the jet-fuelling business of Russian oil giant Rosneft, has been awarded a tender for fuelling the aircraft fleet of the largest Turkish air carrier Turkish Airlines in Russian airports...

Gazprom develops gas corridor in Russia to feed Nord Stream-2

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Russian gas monopoly Gazprom said the company is developing the northern gas transmission corridor in Russian territory, which will feed gas into Nord Stream-2 pipeline. Nord Stream-2 is the construction project for a gas pipeline...

Kazakhstan abandons idea of building a fourth refinery

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NUR-SULTAN, Kazakhstan - Kazakhstan has abandoned a project to build a fourth refinery in the country, Kazakhstan's Energy Minister Kanat Bozumbayev told reporters on 24 June. The government of oil-producing Kazakhstan has long discussed building...

Kazakhstan to start exporting its gasoline to Central Asia

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NUR-SULTAN, Kazakhstan – Kazakhstan will for the first time begin to export high-octane gasoline of its own production to the countries of Central Asia and Europe, Kazakhstan's Minister of Energy Kanat Bozumbayev said at...

EU eyeing possible sanctions on Turkey over ‘illegal drilling’ in East Med

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EU leaders condemned late on 20 June “Turkey's continued illegal actions in the Eastern Mediterranean and the Aegean Sea,” saying the European Union would now consider what measures to take in response, a move...

Kazakhstan increases oil production since January

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NUR-SULTAN, Kazakhstan - For five months of this year, the volume of oil production amounted to 36.5 million tons, which is 1% higher than the operational plan, Kazakhstan’s Energy Minister Kanat Bozumbayev said on...

Gazprom to enhance scientific cooperation with OMV and Uniper

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Russian gas monopoly Gazprom and Austria’s OMV met in Vienna on 19 June where they reviewed issues related to the integrity of the gas transmission system, the outlook for the energy markets, environmental protection,...

The Hormuz Hullabaloo

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Tehran said on 14 July it was alarming and wrong of Washington to blame Iran for attacks on two oil tankers near the Straits of Hormuz, Reuters reported. Oil prices settled 2.2% higher on 13...

Don’t slow the flow: EU wants no snag in Russian gas via Ukraine

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As Nord Stream-2 builders are planning to finish the gas pipeline from Russia to Germany underneath the Baltic Sea by the end of the year, the European Commission wants Moscow to provide guarantees of...

Shell ships first LNG cargo from Prelude FLNG from Australia

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Targeting the Asian market, Royal Dutch Shell, along with its Joint Venture Partners Japan’s INPEX, South Korea’s KOGAS and US-based OPIC, announced on 11 June that the first shipment of Liquefied Natural Gas has...

Tokayev pledges to deepen cooperation with Kazakhstan’s neighbours

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NUR-SULTAN, Kazakhstan – Kazakhstan’s President Kassym-Zhomart Tokayev told a press conference at the Ak Orda Presidential Palace on 10 June that the elections were "open and fair" and vowed to fulfil “a mandate of...

Kazakhstan eyes gas exports to China as Trans-Caspian-Pipeline faces obstacles

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NUR-SULTAN, Kazakhstan – Although some significant legal obstructions have been removed after the Caspian Sea agreement was signed last year, it is close to impossible to see how the economics of exporting Turkmen gas...

Cyprus reworks Aphrodite gas deal with US, Dutch, Israeli partners

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Cyprus' Energy Minister Giorgos Lakkotrypis said the government concluded an agreement with US-based Noble Energy, Royal Dutch Shell and Israel’s Delek on the distribution of revenues from natural gas exploitation from the Aphrodite field...

EU probes support into Lithuanian state energy incumbent

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Concerned that Lithuanian support for Lietuvos Energija may have unduly favoured the company and distorted competition in the EU market, the European Commission opened an in-depth investigation to see the government’s decision to provide...

Cyprus, Noble Energy reach deal to expedite Aphrodite development

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Cyprus’ government has reached a deal to revise the contract with US-based company Noble Energy and its joint venture partners, Israel’s Delek Group and Royal Dutch Shell to develop the Aphrodite gas field, Cyprus...

Kazakhstan’s Kashagan oil production to reach 3 mln tonnes in 2019

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Nur-Sultan, Kazakhstan - In 2019, the giant Kashagan oil field in Kazakhstan’s section of the Caspian Sea reportedly plans to produce 12.9 million tonnes of oil and eight billion cubic metres of gas. Kazakhstan Prime...

Shell starts production Gulf of Mexico’s Appomattox system

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Royal Dutch Shell, through its subsidiary Shell Offshore has announced that production has started at the Shell-operated Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water US Gulf...

Argentina awards ENI high potential offshore block

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The Argentine authorities have officially awarded the exploration license of offshore block MLO 124 to a consortium led by Italian energy major ENI. The award is the outcome of the consortium’s successful bid in...

US sanctions may be too late to stop Nord Stream-2 construction

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US sanctions against the controversial Nord Stream-2 pipeline from Russia to Germany are unlikely stop the project’s construction but may prevent Russian gas monopoly Gazprom from using the pipeline at full capacity in the...

Russian oil: There may be gunk

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As Russia is in the process of removing contaminated oil from the Druzhba export pipeline, the real cost of damage to European refiners, time to remove tainted oil and restore exports as well as...

Borissov, Tsipras launch IGB pipeline in Bulgaria

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In the Bulgarian village Kirkovo on 22 May, Bulgaria's Prime Minister Boyko Borrisov hosted his Greek counterpart Alexis Tsipras at a ceremony to launch the 180-kilometre Interconnector Greece Bulgaria (IGB) pipeline, aiming to reduce...

Šefčovič and Zelensky discuss transit of Russian gas via Ukraine

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European Commission Vice President for Energy Union Maroš Šefčovič discussed with Ukraine's newly sworn-in president, Volodymyr Zelensky, the issue of transiting Russian gas to Europe via Ukraine. During his meeting with Zelensky while Šefčovič was in...

Russia’s Gazprom discovers 2 new fields in Yamal shelf

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Russian gas monopoly Gazprom has announced on the discovery of new hydrocarbon fields on the shelf of the Yamal Peninsula. The Federal Agency for Mineral Resources approved on 17 May the expert opinions of the...

Kazakhstan’s Kashagan field production resumes ahead of schedule

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NUR-SULTAN, Kazakhstan - Production at the Kashagan field has successfully ended before the scheduled date, Kazakhstan’s Energy Ministry said on 20 May. “On Sunday, May 19, 2019, after the successful completion of the first scheduled...