Oil & Gas Industry News
SOCAR and BP will conduct joint geological exploration at the prospective block of D230 at the North Absheron field. The companies signed the corresponding memorandum of intent on May 24, 2016. The document was signed by heads of SOCAR R. Abdullayev and regional director of BP in Azerbaijan, Georgia and Turkey G. Birrell.
Azerbaijan state-run energy company SOCAR has signed a memorandum for cooperation and joint activity with its Uzbek counterpart Uzbekneftegaz, the national holding company. The two entities have agreed to join forces in oil and gas exploration and development as well as other opportunities in energy markets.
Bahrain’s oil export revenues will fall from 7,2 billion USD in 2015 г to 4,3 billion USD in 2016.
Till the end of 2016 China wants to import about 7 million barr/day with the help of its oil companies, as reported by Sinopec, April 18, 2016.
Ifax cites diplomatic source in the capital of Qatar.
Earlier Er-Riyard refused to join negotiations without Iran.
The Iranian ships are restricted from entering Saudi ports, and Bahrain, a Saudi ally, has issued similar restrictions.
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month’s sanctions relief.
Australia has become the largest LNG exporter in Asia in 2015.
Referring to Iraq’s request for the purchase of Iran’s LNG, deputy oil minister reported on creation of a 48-inch split from the 7th overall pipeline in order to export gas to Oman.
It grew up to 3,10 million barr/day for one month.
The United States and its allies have sharply increased their airstrikes against the sprawling oil fields that the Islamic State controls in eastern Syria in an effort to disrupt one of the terrorist group’s main sources of revenue, American officials said this week.
Within 9 months GTL plans to sign an agreement with South Oil Company for construction of APG processing plant in Iraq, said the company on October 20, 2015.
Sudan has formally submitted an application to join the Organization of Petroleum Exporting Countries (OPEC), its oil minister Mohamed Zayed Awad said this week.
Syrian Prime-Minister V. Al Halqi and Director Deputy of Stroitransgas I.Kazak have discussed potential return to cooperation, as informed by the Government of Syria September 16, 2015.
Construction of the sea port for Star oil refinery launched in Turkey. Under the project, construction of offshore trestles of refinery will be completed in May 2017.