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Transit of gas through Ukraine falls

In January 2018 Ukraine reduced transit of natural gas through its gas transportation system (GTS) by 32.1% (by 2,857.5 mcm) compared to the same period…

Makhachkala Port reduced oil transshipment by 2.8 times in 2017

The Makhachkala Sea Commercial Port reduced cargo handling by 2.5 times in 2017 compared to 2016, up to 1.3 million tons. This was reported by…

Ukraine reduced gas consumption by 36.6%

In 2017, the consumption of natural gas in Ukraine in comparison with 2016 decreased by 4% or 1.3 bcm, amounting to 31.9 bcm. This is…

Oil production in US exceeds 10 mln b/d for first time since 1970

In November 2017, the US increased oil production to more than 10 million barrels per day (b / d) for the first time since 1970,…

Brent and WTI price spread narrowing

The Brent and WTI spread decreased to $ 3.8 in world market.  Report informs, in December the price spread was $ 7. Notably, there were…

Caspian Shipyard Company Liquidated

Singapore Shipbuilding Corporation Keppel on its website announced the voluntary liquidation of Caspian Shipyard Company (CSC) LLC in Azerbaijan. “Keppel Corporation Limited announces that its…

Why does oil hit $71?

Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U.S….

Brent price exceeds $71 for first time since 2014

Price of March futures for the North Sea petroleum mix of mark Brent crude increased by 1,5% and exceeded $ 71,01/barrel. Report informs citing the…

US energy minister: Shale oil production growth will not endanger market

Department of Energy Secretary Rick Perry said Wednesday that the US is “blessed” to provide fossil fuel to the rest of the world.  Speaking at a panel…

IEA Expects “Explosive Growth” of Oil Production in US in 2018

Oil production in the US in 2018 can demonstrate “explosive growth” against the background of rising oil prices, the International Energy Agency (IEA) believes. In…

Iraq, BP sign deal to boost Kirkuk crude output

Iraq signed a memorandum of understanding with BP on Thursday to boost production capacity from its northern Kirkuk oilfields, the country’s oil ministry said. The…

Saudi Arabia to build first Nuclear Power Plant

Saudi Arabia counts on the fact that nuclear energy will help diversify the country’s energy sector. At the moment, Saudi Arabia is looking for foreign…

Georgia not to be able to meet its electricity needs in 2018

The Ministry of Economy and Sustainable Development of Georgia has approved the balance of the country’s electricity market for 2018. According to the document, electricity…

Caspian countries change principle of controlling ships

 The Caspian littoral states have made a decision to establish a unified regime for the state control of ships in ports by analogy with the…

Iraq bans Kurdish firm Kar Group from operating Kirkuk oilfields

Iraq’s parliament voted on Monday to ban Kurdish engineering firm Kar Group from operating Kirkuk’s oilfields, following Iraq’s recapture of the Kurdish-held oil region in…

Iraq agrees with U.S. firm Orion to invest in gas production

Iraq has reached an initial agreement with U.S. energy company Orion to invest in the production of gas from the Nahr Bin Omar southern oilfield,…

BP takes $1.5B hit over US tax changes, joining Shell

BP expects a positive impact on future post-tax earnings from the United States after the changes to US corporate taxes. Oil giant BP will take…

Historically least amount of oil found worldwide in 2017

The total reserves of all new oil and gas fields discovered in 2017 amounted to the lowest index in the history of the calculation –…

Eni to collect used vegetable oil from employees for biofuel

Eni has signed an agreement with Utilitalia and CONOE to boost the collection of used vegetable oil produced in the homes of its employees. The…

Iraq announces tender for construction of Kirkuk-Ceyhan oil pipeline

The Ministry of Oil of Iraq extended an official invitation to foreign companies to take part in the construction of a new branch of the…

IMF сalls Ukraine to increase gas price

The Ukrainian authorities should adjust the gas price in the domestic market to the level of imported parity, as this will promote the development of…

OPEC sees balanced oil market by late 2018 as cuts erode glut

OPEC expects the world oil market to be balanced by late 2018 as its deal with other producers to cut output further reduces excess oil…

After Europe’s Gas Market Disasters, LNG May Come to the Rescue

After all the craziness in Europe’s gas markets this week, some relief supplies may already be on their way from deep in the Russian Arctic….

Austria resumes gas transit to Europe

One of Europe’s biggest gas distribution hubs owned by the OMV company has fully resumed operations after an explosion took place at Baumgarten, Austria. Report informs…

In Italy declared an emergency situation

After the explosion in a gas hub in Austria, Italy remained without Russian gas The Ministry of Economic Development of Italy announced an emergency regime…

Brent Reaches Highest Since 2015 After Forties Pipeline Shutdown

Brent crude jumped to its highest since June 2015 as a key North Sea pipeline shut down. The Forties Pipeline System, one of the most…

Fuel prises rise in Georgia again

Growth of retail prices for some types of fuel by 1-2% is recorded in Georgia. According to local media reports, Nano Super gasoline went up…

Global Oil Sector Will Shift to Upcycle in 2018

The global oil and gas sector will shift from downcycle to upcycle in 2018, according to a new report from BMI Research. “Oil prices reached their…

BP: 2017 ‘Massive’ Year for Global Upstream Projects

Senior leaders from BP’s Global Projects Organization say the company’s project performance was positive for 2017 and have high expectations for the future. Coming off…

New gas plant commissioned at Gazprom Neft’s Badra field

Gazprom Neft subsidiary Gazprom Neft Badra has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq. Alexander Novak, Minister of Energy…

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