Oil & Gas

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...

Norway’s Equinor and KazMunayGas ink joint research oilfield agreement

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Norwegian company Equinor and Kazakh national oil and gas company KazMunayGaz have signed an agreement on joint research for oil and gas in the territory of Kazakhstan on 23 September. Senior vice president for international...

MEDREG backs South Mediterranean energy regulatory reforms

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The future of energy cooperation in the Mediterranean was highlighted during a conference on MEDREG’s support to energy regulatory reforms in the Southern Mediterranean on 19 September 2019 in Brussels. The president of the Association...

Iran to release Stena Impero

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The British-flagged oil tanker Stena Impero is "free to leave," Iran's government spokesperson, Ali Rabiei, said on Monday. Islamic Revolutionary Guard (IRGC) forces captured the Stena Impero in the Strait of Hormuz on July 19. The...

Drone strikes on Saudi oil fields spike prices

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Geopolitical tensions and fears of longer-than-expected supply shortfalls led to Brent crude oil prices rising more than 1% on 19 September following the drone attacks on 14 September on the Abqaiq facility and the...

LUKOIL, KazMunayGaz sign joint research agreement

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Russia’s LUKOIL and KazMunayGaz (KMG) signed on 20 September an agreement on joint exploration of hydrocarbon sites in Kazakhstan. LUKOIL President Vagit Alekperov and KazMunayGas President Alik Aidarbayev signed the agreement during the LUKOIL president’s...

Russia, Ukraine OK with EU law for gas transit

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On 19 September in Brussels, Russia, Ukraine and the European Commission held trilateral gas talks at a political level on the long-term transit of Russian gas via Ukraine to Europe as of next year...

OPEC head to visit KazEnergy and Kashagan oil field

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OPEC Secretary-General Mohammed Barkindo will visit an international energy forum in Nur-Sultan and the giant oilfield Kashagan in Kazakhstan’s section of the Caspian Sea next week, KazEnergy Executive Director Talgat Karashev has said. “The head...

Houthi drone attack on Saudi energy infrastructure affects global oil prices

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Drone attacks on Saudi Arabia’s energy infrastructure on Saturday by Yemen’s Houthi rebels reduced oil production by 5,7m barrels a day which, according to analysts, is sufficient to trigger a hike in international prices...

EU wants progress in Russia-Ukraine gas talks

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The European Union will host a fresh round of Trilateral Gas Talks between Russia and Ukraine on 19 September in Brussels with European Commission Vice President Maroš Šefčovič stressing that a solution needs to...

New Commission needs to secure a zero-carbon target for 2050

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If the new European Commission is serious about decarbonising Europe's economy, it needs to take decisive action to secure a zero-carbon target for 2050, WindEurope said on 5 September. “Europe needs to start getting much...

Russia fuels global gas race with Arctic LNG-2 project

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Competing in the global liquefied natural gas (LNG) race, Russia’s largest independent gas producer, Novatek, France’s Total and the other project shareholders have approved the final investment decision (FID) for Arctic LNG 2, a...

Russia’s Novatek obtains the Soletsko-Khanaveyskoye gas field in Yamal

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As Russian tries to boost liquefied natural gas production, the country’s largest independent gas producer Novatek announced on 30 August that Arctic LNG 1, a wholly owned subsidiary, won the auction for geological survey,...

EU says Ukrainian pipeline still key conduit for Russian gas

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The European Union fully supports Ukraine as a stable and reliable transit route and will do its utmost to ensure that Ukraine remains an important transit route also after 2020, a EU energy spokeswoman...

Formerly detained Iranian tanker leaves Gibraltar for Greece

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An Iranian tanker captured by Royal Marines and detained by Gibraltarian authorities since July 4 was released late Sunday and sailed for Greece on Monday. The final destination is unknown. The Grace 1 tanker was carrying...

Kashagan, Tengiz, Karachaganak top Kazakh oil production

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NUR-SULTAN, Kazakhstan - The volume of oil production in Kazakhstan during the last seven months amounted to 52.23 million tonnes, meaning it has implemented the state’s plan by 101.2%, Kazakhstan’s Energy Minister Kanat Bozumbayev...

ENI inks exploration contract in Caspian

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Italian energy major ENI and Kazakhstan’s state oil and gas company KazMunayGas (KMG) have signed a contract for the exploration and production of hydrocarbons at the Abay block in the Caspian Sea. “According to the...

East Med Gas Forum wants worldwide upgrade

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Energy ministers of the East Med Gas Forum (EMGF) met in Egypt on 25 July, agreeing to access the possible upgrade of the forum to the level of an international organisation, the first of...

Total, KMG, Kazakh Energy Ministry sign MoU

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NUR-SULTAN, Kazakhstan – France energy giant Total has signed a Memorandum of Understanding in the field of digitalization in the oil and gas industry with Kazakhstan’s national oil and gas company KazMunayGas (KMG), and...

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...