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The largest company in Saudi Arabia increases production capacity

Despite the agreement of Saudi Arabia to cut production, the largest oil company of the Kingdom Saudi Aramco signed a contract with American organizations for the construction of dozens of new rigs over the next decade. The state company reached an agreement with Nabors Industries Ltd. and Rowan Cos., those …

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Russian oil companies will hold off on Iran

Oil companies from Russia can’t start work in the Iranian fields due to gaps in legislation Russian oil companies do not intend to enter into contracts following the meeting of the Russian-Iranian Commission on trade-economic cooperation, which will be held from 11 to 13 December in Tehran, told “Izvestia” a …

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Reduce all. What will happen to oil prices?

Countries outside of OPEC, joined the agreement to reduce oil production and prices on “black gold” went up. What’s next? So, against all sorts of stuffing from the notorious media, countries outside OPEC was successful: the participants agreed to cut production to 558 thousand barrels. In total, the agreement was …

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Rosneft: Putin won big.

The surprise deal under which a consortium of Glencore and Qatar’s sovereign Fund has acquired 19,5% of Russian state oil company Rosneft, will have a serious impact on the geopolitics of the Middle East, domestic politics of Russia and the oil market. Russian President Vladimir Putin and his longtime associate, …

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Why is our economy depends on oil prices: stagnant 80s, take two?

“Countries with large endowments of natural resources often lag behind in economic development and the quality of governance from countries with fewer resources. The amount of funds coming from the oil and gas industry is extremely volatile. Because oil and gas resources are nonrenewable, any consumption of the profits from …

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Ukraine almost doubled the import of oil

Ukraine for 11 months of 2016 imported crude oil and gas condensate in monetary terms to 149,8 million dollars. This is 1.8 times more than in the same period last year. This is evidenced by the State fiscal service. The main supply of oil (96.8 per cent) was carried out …

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