Industry News


Russian Deputy Prime Minister Alexander Novak believes that the range of oil prices in 2021 will be $45-60 per barrel

According to him, the quotes have stabilized and the current prices are in line with the market situation.


Belorusneft’s northern asset in Russia reveals ambitious plans to increase gas extraction

Specialists describe Oil Company Yangpur as the driver of growth of Belorusneft’s daughter enterprises in Western Siberia.


Iranian Energy Minister: Iraq to open euro bank account to pay Iran’s energy debts

Iraq relies heavily on Iranian gas to feed several power plants across the country, while Iranian electricity exports also account for a major part of the country’s power supply.


Kazakhstan to create oil & gas engineering development international centre

An International Center for the Development of Oil and Gas Engineering will be created in Kazakhstan, the office of the Kazakh prime minister said on December 1.


Priorities of Turkmengas: from export of pipeline gas to its deep processing

Chairman of the Turkmen State Concern “Turkmengas” Batyr Amanov at the International Conference “Sustainable cooperation in the energy sector is an important condition for universal development” said that one of the main components of the country’s diplomacy is creating favorable conditions for international cooperation.


Turkmenistan considers opportunities to attract investment to Caspian Sea

Turkmenistan has considered the possibility of attracting investment in the marine blocks of the Turkmen sector of the Caspian Sea, Trend reports with reference to Nebit-Gaz newspaper.


Canada’s Cenovus to buy Husky for $2.9 billion as pandemic drives oil mergers

Cenovus Energy Inc (TO:CVE) has agreed to buy rival Husky Energy Inc (TO:HSE) in an all-stock deal valued at C$3.8 billion ($2.9 billion) to create Canada’s No. 3 oil and gas producer, as a pandemic-driven collapse in demand forces the industry to consolidate.


Maduro: Oil revenue down 99% due to US sanctions, but Iran helping

Venezuelan President Nicolas Maduro has said that US financial sanctions have caused Venezuela’s oil revenue to plunge 99% over the last 6 years.


Russia calls for a global response to the oil demand crisis

All players on the global energy market need to act together to tackle the effects of the pandemic on oil demand.


Azerbaijan´s SOCAR imports 812 mln cubic meters of gas to Georgia in 1H 2020

SOCAR Georgia Gas, the Georgian branch of Azerbaijan State Oil Company, imported about 812 million m3 of natural gas to Georgia during the first 6 months of 2020, Ibrahim Ahmadov, Deputy Head of SOCAR’s Public Relations department has told Azerbaijan’s Trend.


Kazakhstan explores ways to strengthen Kazakh and German cooperation in subsoil use and geology

According to the Kazakh Prime Minister’s press service, the online meeting was attended by managers and representatives of more than 100 leading German companies, including Siemens, Linde, Knauf, Lufthansa etc.