Tag Archives: Economy

China. the world’s biggest oil consumer after the U.S.. has sought a foothold in crude production everywhere from Africa to Canada.

Qatar. OPEC’s fourth-smallest producer. pumped 610.000 barrels of crude a day in August compared with more than 700.000 barrels daily in 2014.

Project has potential to meet Egypt’s growing gas demand and save the country billions of dollars.

Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year.

Maduro said his country was going to trade in oil. gas and gold using currencies other than the US dollar.

SOFAZ was established in Azerbaijan in 1999 and the Fund’s main source is revenues from the sale of oil and gas that account for the state share.

The country is a minor player in the global hydrocarbons industry. extracting the equivalent of about 815.000 tonnes of oil per year.

There is intense competition across the world to attract foreign investment. but the assets are limited while competition for absorbing them is high.

In July. NIOC signed an MoU with Japan’s engineering group Toyo to revamp facilities and upgrade recovery at the Salman gas field in the Persian Gulf.

The financial sanctions did not mention cutting off U.S. imports of Venezuelan oil. which could be critical to Venezuela'.s economy as well as U.S. oil refiners.