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OPEC Exceeds Its Obligations to Reduce Oil Production

The volume of OPEC oil production in November decreased by 0.3 million barrels per day, to 32.48 million barrels per day. This follows from the…

Top Exporters of Crude Oil

One Map Shows the World’s Biggest Oil Exporters Despite investment into alternative energies, oil is still the world’s most traded commodity. Want to know where…

Robotics and Automation: The Oil, Gas Skillsets of the Future

Robotics, by definition, encompasses several different types of engineering that work to develop robots, which are then used to substitute for humans in a myriad…

OPEC, Russia Agree Oil Cut Extension To End Of 2018

OPEC agrees to extend oil production cuts until the end of 2018, Rigzone reports. OPEC and non-OPEC producers led by Russia agreed on Thursday to…

Iraq Wants to Build New Section of Kirkuk-Ceyhan Oil Pipeline

Iraq intends to build a new section of the pipeline from the town of Baiji to the Fish-Habur checkpoint near the borders with Turkey and…

Oil Prices Fall More Because of IEA Forecasts

The prices of reference brands of oil significantly accelerated the decline in trading on Tuesday after the International Energy Agency (IEA) lowered forecasts of world…

U.S. to Exit Global Anti-Corruption Effort Aimed at Oil Cash

 → Oil, mining companies pledged to disclose overseas payments  → U.S. joins Azerbaijan in rejecting anti-corruption initiative            The Trump administration said…

OPEC + Countries Fulfilled Agreement by 120% in September

OPEC and non-OPEC countries participating in the agreement on oil production limitation reached a record 120% in September, the cartel’s press release said, following the…

Oil Price Set at $45 in State Budget of Azerbaijan

In the draft state budget of Azerbaijan for 2018, the base price for one barrel of oil is indicated at $45. The draft state budget…

TAP pipe deliveries complete to Albania, Greece, Italy

The last shipment of steel line-pipes for the construction of the Trans Adriatic Pipeline (TAP) arrived in Thessaloniki, Greece on October 10, marking the completion…

Historical Artifacts Discovered during Construction of TANAP Pipeline

During the construction of the TANAP pipeline in the province of Kutahya in the west of Turkey, historical values ​​as well as ancient tombs dating…

Australia Closing In On Qatar as World’s Top LNG Exporter

Australia expects to increase exports of liquefied natural gas (LNG) by 16 percent from mid-2018 as $180 billion in new projects hit their stride, nearly…

IEA increases forecast for world oil demand in 2017

The International Energy Agency expects that world demand for oil in 2017 will increase by 1.6 mln barrels per day year-on-year The International Energy Agency…

Uzbekistan in 2017 will increase gas production

Uzbekistan in 2017 for the first time in many years will increase gas production, the growth will be 1.5 billion cubic meters. TASS learned from…

Rosneft to join KPG gas pipe project

Russian state-run oil giant Rosneft said September 18 it has negotiated “an opportunity” to participate in a gas infrastructure project with the Kurdistan Regional Government…

Lukoil Reduced Oil Production by 6.8% in H1 of 2017

Lukoil reduced oil production by 6.8% in the first half of 2017 compared to the same period last year, to 43.59 million tons. According to…

Revenues of SOCAR Trading Increased by 14% in 2016

The revenues of SOCAR Trading SA (the “daughter” of SOCAR) in 2016 amounted to $ 25.9 billion, which is 14.1% higher than in 2015, the…

Work on Building TAP in Sea to Start in 2018

The work on the construction of the Trans Adriatic Pipeline (TAP) in the sea is scheduled to begin in 2018 and will continue for few…

Transportation of Goods through Georgia Decreases in 2017

Sea ports and terminals of Georgia processed 8.3 million tons of cargo in January-June of 2017, which is 1.2% less than in the first half…

SOCAR Invests $12.6 Bn in Turkish Projects So Far

The main goal of the State Oil Company of Azerbaijan by the 100th anniversary of the Turkish Republic is to transform these territories into one…

World Gas Production and Demand will Go Shoulder to Shoulder

In the next five years, gas demand will grow by 1.6% per year – faster than other hydrocarbons. The production will grow at the same…

Uzbekneftegaz to Sack 12,000 Employees

By the decision of the President of Uzbekistan Shavkat Mirziyoyev, a set of measures to improve the management system of the oil and gas industry…

Societe Generale Reduces Forecast of Oil Prices for Second Time

Analysts predict a decline in oil prices in the second half of 2017 Analysts of Societe Generale for the second time since the beginning of…

Gas Prices in Uzbekistan Increase by 7%

In Uzbekistan, since July 15, the tariffs on natural gas for the population will increase by 7%. In particular, the cost of 10 cubic meters…

TAP Announces New Management Team

Trans Adriatic Pipeline AG (TAP) announced the appointment of Luca Schieppati as Managing Director and Walter Peeraer as President, both starting on 27th June 2017….

TurkStream gas pipeline laying in deep water commenced

Russian Gazprom announced that it started laying the TurkStream gas pipeline in the deep-water area off the coast of Anapa. TurkStream is the project for a…

Bulgaria Wants to Receive 3 Bcm of Gas from Shah Deniz-2

The Bulgarian company Bulgartransgas starts negotiations with SOCAR on deliveries of Azerbaijani gas to Bulgaria for the gas hub Balkans, Bulgarian media reported with reference…

USA Delivered First Batch of LNG to Poland

The United States delivered the first consignment of liquefied natural gas (LNG) to Poland and expects that this will have a positive impact on ensuring…

Export Earnings of OPEC Fell by 13.2% in 2016

Revenues from oil exports by OPEC countries in the past year fell by 13.2% compared to 2015, amounting to $ 445.7 billion, the organization’s document…

Gazprom and OMV to Revive South Stream

The Austrian company OMV and Russian Gazprom are discussing the possibility of reviving the South Stream project, which envisaged the construction of a pipeline from…

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