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The company plans to invest around 3 trillion won ($2.6 billion) in the global projects between now and 2025.

The U.S. has undertaken several initiatives to improve the regulatory process for approval of LNG exports.

Russian-Saudi-OPEC collusion reduced the slack in oil markets. and led to lower stockpiling of crude oil and petroleum products in 2017.

The project will be completed by 2020 and the Russian company will operate it for 25 years.

An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month.

Production from the nation’s major shale plays is expected to rise by almost 100.000 bpd month-on-month in November.

Top exporter Saudi Arabia pumped most of the extra oil. raising output by 524.000 bpd in September compared to May.

OPEC estimates India will account for about 40 per cent of the overall increase in global oil demand by 2040.

Russia and Iran are in permanent contact which will help reinforcing cooperation in all levels of trade ties especially in energy sector.

India. the world’s third-biggest oil consumer. meets more than 80 per cent of its oil needs through imports.