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The 10 Most Important Oil Market Trends For 2020


As a busy 2019 in the oil and gas industry ends, analysts are busy issuing predictions about next year and what they would mean for oil markets and prices. This year saw a mix of some of the more predictable events—such as OPEC and Russia extending their cooperation pact, twice—and a ‘black swan’ such as…

Gazprom for Pakistan gas pipeline feasibility study


Russian company Gazprom is set to initiate the feasibility study in the first quarter of 2020 for laying down undersea pipeline starting from Gulf to Pakistan, India and Bangladesh initially that will ultimately end to China after touching Myanmar and Thailand, a senior official of the Petroleum Division privy to the development said. The pipeline…

Refinery news roundup: Works continue in Europe


Some turnarounds are continuing in Northwest Europe and the Mediterranean, although most scheduled works have been drawing to a close. Greek refiner Hellenic said that its performance in the third quarter was “positively affected by improved refining environment, despite weaker benchmark refining margins compared to historical highs recorded in recent years, as well as the…

Ports & Terminals in Russia


Key ports Which are the key ports in your jurisdiction and what sort of facilities do they comprise? What is the primary purpose of the ports? Russia has the fourth-longest coastline in the world (37,650 kilo­metres). This coastline is divided between the coasts of the Atlantic Ocean, the Arctic Ocean and the Pacific Ocean. Russia…

Caspian Pipeline Consortium successfully ships its 6,000th marine tanker


Caspian Pipeline Consortium (CPC), that is a consortium to take oil from Tengiz oil field in West Kazakhstan to Russia’s Novorossiysk sea port, has shipped its 6,000th marine tanker to Russia since its commissioning in 2001. More than two thirds of Kazakhstan’s total export oil is transported via the Caspian Pipeline Consortium pipeline. The tanker…

Russia, Belarus closer to resolving oil, gas issues, says Moscow

Russia and Belarus have come closer to resolving their differences on oil and gas supplies, Russia’s economy minister said on Saturday after talks between the two countries. Russian President Vladimir Putin and his Belarusian counterpart Alexander Lukashenko were holding talks on Saturday on an integration road map in the southern Russian city of Sochi. A…

Russia’s Taymyr plan: Arctic coal for India risks pollution


Natural riches come in two conflicting types in Russia’s Arctic north: valuable minerals and spectacular wildlife. But sadly for many threatened species, the decline in Arctic sea ice has created a new economic opportunity for Russia in their remote habitat. In a decree last year President Vladimir Putin ordered Russian firms to boost cargo traffic…

Oil falls 1% as US inventory rises


Oil prices extended losses Wednesday after a steep U.S. crude inventory build added to worries about a possible delay in resolving the U.S.-China trade war, which has hurt global oil demand. According to the US Energy Information Administration, US crude inventories increased by 5.7 million barrels from the previous week. US inventories are now at…

Russia’s VEB may invest in Moroccan refinery, Congo pipeline projects

Sochi — Russian state development bank VEB has signed investment cooperation deals with African organizations including on financing a refinery in Morocco, and an oil products pipeline in the Republic of Congo. The deals were signed during the inaugural Russia-Africa Summit, set up to further Russia’s strategy of boosting its trade relationship with African countries….

Iran building oil pipeline to terminal outside Gulf


Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country’s oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil. Iran has been planning since at least 2012 to set…