Oil & Gas Industry News
SOCAR Turkey Energy, a subsidiary of Azerbaijan’s state energy giant SOCAR, and Rosneft, the leader of Russia’s petroleum industry, signed an agreement on the supplies of oil and oil products.
ExxonMobil was ordered to pay a record $74 billion fine in Chad for underpaying royalties in the central African nation where the company has been drilling for 15 years, according to a court document.
«Mongolia Gladwill Uvs Petroleum LLC» had to stop oil exploration near the Lake Uvs-Nuur in the western part of Mongolia. Local environmental organization put spokes in the wheel of business.
Austria’s OMV said on Friday it received 1 million barrels of crude oil from Iran in a spot delivery at the Italian port of Trieste which the energy group will send to its two refineries in Austria and Romania.
With the Centre focusing more on developing alternative fuel economy, India will soon stop importing petroleum products, Union Minister Nitin Gadkari said today.
Far Ltd., an oil and gas company with a stake in the SNE oil field offshore Senegal has said that the commercial viability of the field has been confirmed.
A joint expedition by India and the U.S. discovered a major deposit of natural gas in the Indian Ocean, offering the potential to significantly expand energy production in a region that’s currently a big importer.
The Republic of Congo is in default on its international debts after missing an interest payment on $478m of bonds due at the end of June, as the oil price collapse claimed another victim.
Iran’s oil exports have grown threefold as compared to export volumes during the period of international sanction, after the country has signed short-term contracts with a number of several European oil companies, according to the Iranian Mehr News Agency.
Iranian President Hassan Rouhani says Iran and South Korea must make use of their great potential to expand their strategic relations in all sectors.
According to the Kazakhstan’s Energy Minister Bozumbayev, Tengizchevroil, Karachaganak Petroleum and Kashagan oilfield will step up oil production.
According to Petrol World Tunisia, which shale gas reserves amount according to preliminary estimates to 650 billion m3, intends to use these resources provided it adopts an appropriate legislative framework in Tunisia said the Director General of Energy at the Ministry of Energy and Mining Ridha Bouzouada.
Complex Drilling Works Trust of the State Oil Company of Azerbaijan started drilling a new well at Neft Dashlari field (Oil Rocks), Caspian Energy News (www.caspianenergy.net) reports with reference to SOCAR.
Bahrain’s King Hamad bin Isa Al Khalifa has replaced the oil minister in a minor cabinet reshuffle on Friday that affected two cabinet portfolios.
Turkey is willing to cooperate with Iran, namely with its province of Kermanshah, in petrochemical industries, Deputy Head of the Turkish Chamber of Commerce Cuneyt Golet said Wednesday.