Oil major Chevron has entered into a definitive agreement with Noble Energy to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron’s closing price on 17 July 2020 and under the terms of the agreement, …
Read More »Azerbaijan Warns of Risks to Caspian Energy Exports from Conflict with Armenia
Elshad Nassirov, vice president of Azeri state energy company SOCAR, said on a conference call some of the energy infrastructure involved in shipping Caspian oil and gas to world markets is located in the vicinity of the current military operations. Fifteen servicemen from Azerbaijan and Armenia and one Azeri civilian …
Read More »Saudi Aramco Joins Global Oil Heavyweights in Emission Targets
Saudi Aramco has joined with European and US supermajors – representing a third of the world’s oil industry – to begin curbing emissions at their own operations as the clamor builds for the biggest polluters to act on climate impact. Members of the Oil & Gas Climate Initiative, a group …
Read More »Novak: Oil Market Is Balanced and Stable
Russian Energy Minister Alexander Novak said on Wednesday that the global oil market is now balanced and stable following a sudden decline in demand due to the coronavirus pandemic. Speaking after a meeting of the OPEC+ group’s Joint Ministerial Monitoring Committee (JMMC), which had recommended an easing of curbs on …
Read More »Oil Slips as Traders Expect OPEC+ to Ease Supply Cuts
Oil slipped nearly 1% on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices. Brent crude LCOc1 fell 29 cents, or 0.7%, to $42.95 a barrel by 0510 GMT while U.S. West …
Read More »Iranian Companies Sign Development Contract of Joint Oilfield with Iraq
Iranian companies on Saturday signed contract for development of Yaran joint oil field with Iraq. The National Oil Company and Persia Oil and Gas Industry Development Company signed the contract to develop Iranian share of Majnoon joint oilfield with Iraq. North Yaran oil field is located in Khuzestan Province, approximately …
Read More »Russia-led Nord Stream 2 Gas Pipeline Could Be Completed Soon
A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the last section of the controversial pipeline has yet to be completed. According to vessel-tracking data from Refinitiv Eikon cited by …
Read More »Iran Bracing to Enhance Oil Recovery at Azar Oilfield
The Central Processing Facility (CPF) of Azar Joint Field is now complete, marking a major step towards enhanced oil recovery at the field. The Central Processing Facility (CPF) of Azar Joint Field is now complete, marking a major step towards enhanced oil recovery at the field. Inauguration of the facility …
Read More »Kuwait most Dependent on Oil Revenues among World Countries
The Gulf state of Kuwait is the most dependent on revenues of fossil oil among the world countries, a recent report issued by the World Bank revealed, according to The New Khalij on Friday. The report, which was published by local Kuwaiti media, confirmed that Kuwait’s oil revenues make up …
Read More »Iran Envoy Hails China Stance against IAEA Anti-Iran Resolution
Iranian Ambassador to China Mohammad Keshavarzzadeh in a message commended China for objection to ant-Iran resolution passed by the International Atomic Energy Agency Board of Governors, saying Iran will never forget China’s firm position. Keshavarzzadeh made the remarks in a Twitter message reacting to China Foreign Ministry Spokesman Zhao Lijian’s …
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