Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. Since 2017, Russia and OPEC have cut...
The well confirms a volume potential of 50-70 million recoverable barrels of oil. The discovery more than doubles the remaining oil reserves to be produced through the Norne field. Originally planned to be shut down in 2014, the productive life of Norne has already been extended to 2036, which will generate substantial...
Russia’s Nord Stream 2 gas pipeline project to Germany may launch in 2020, rather than the end of 2019, due to delays in obtaining permits from Denmark, Interfax news agency on Friday quoted Nord Stream 2 AG as saying. The Russian-led company has two pending route applications with Danish authorities,...
By Charles Meaby, General Manager, DP World Limassol With Cyprus standing at the crossroads between Europe, Africa and the Middle East, it already possesses the inherent advantages as a hub destination. The success of the DP World terminal at Limassol is testimony to this, as it currently provides stellar...
Wartsila renewables power plant contracts have been signed for projects to move the Caribbean and for Southeast Asia toward a 100 percent renewables future. The technology group Wärtsilä has won the contract to supply a 33 MW flexible power plant on a fast-track basis to the Barbados Light &...
Kazakh oil to China has been reduced along the Atasu-Alashankou pipeline this week after tests carried out earlier in January showed a high content of organic chloride, three trade sources familiar with the matter told Reuters on Tuesday. Organic chloride found in the oil varied between 70 and 120 ppm...
Exxonmobil is offering to build Israel a floating LNG gas-ship to export from the Leviathan gasfield and thus bypass Egypt's planned LNG export facility. An Exxonmobil representative told various financial media that the company is still considering its options. Other sources cautioned that it is entirely likely no agreement...
Sempra Energy and Saudi Aramco announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tons per annum (Mtpa) of LNG offtake...
Gazprom Neft has begun drilling wells at one of Russia’s largest oil and gas condensate fields — the Chayandinskoye, with proactive pilot development scheduled to start in Q4 2019. Gazprom Neft is developing the Chayandinskoye oil-rim deposit under an operatorship agreement with Gazprom Dobycha Noyabrsk LLC. A production well built...
(Sponsored Content) EOS founder and CEO Jean Januard explains how Russian manufacturers of oil and gas equipment and new technologies can find new business opportunity in the Middle East - if they have a guide like EOS to help navigate the market.