Social and Events

The cost of reconstruction has been estimated at between $700 billion and $1 trillion (590 billion to 840 billion euros).

Royal Dutch Shell Plc said it was taking steps to secure its assets in the western Gulf of Mexico in preparation for severe weather.

Saudi Arabia'.s plan to sell 5 per cent of Saudi Aramco through an initial public offering that may reap the country $100 billion.

Rosneft is subject to Western economic sanctions originally imposed after Russia’s annexation of Crimea.

The project partners plan to begin the first tests at operational wells of one of Rosneft’s subsidiaries in September. according to the University of Tyumen.

According to Unit. the production expected from the unnamed Iranian gas field is 1.5 times the 50 billion cubic meters of gas imported each year by Turkey.

Experts from Saudi Arabian Chevron and Oil Spill Response Limited have joined the effort to clean up after the leak.

Tehran and Ankara hold similar views on regional issues.

Natural gas consumption will rise to 620 billion cubic meters in 2030. said CNPC. up from 510 billion in last year'.s report.

The steps come as China ramps up its exploration efforts as crude oil production from ageing wells drops.