The German newspaper Die Welt has published an article where it reveals that Moscow relies on international shipping companies to transport its oil and many of them fly the Greek flag. A business that Athens does not want to give up and which yields about a quarter of its budget to Russia, compared to about [...]
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Eni announces a new discovery in the Late Miocene sequences of the Yatzil exploration prospect, located in the medium-deep waters of Block 7 in the Sureste Basin, offshore Mexico. According to preliminary estimates, the find may hold about 200 million barrels of oil equivalent (MBoe) in place. Yatzil-1 EXP is the second well drilled in the Block [...]
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Although the prices of raw materials have been falling in recent months, the importation of these products could cost the country at least 80 billion euros more this year than in the pre-Covid period. To say it is the Research Office of the CGIA. The prices of metals and minerals (aluminum, iron ore, copper, lead, tin, […]
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The purchase of Indian and Chinese oil has offset most of the decline in Russian exports to Europe, thus raising questions about the impact of sanctions on Moscow which have instead led to a skyrocketing energy bills for European consumers. An analysis by the Financial Times on available data from Chinese and Indian customs statistics shows [...]
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The Afghan Taliban are said to be in talks with Russia to import 1 million tons of petroleum products, giving in exchange raw materials for medicines and mineral resources. A Taliban delegation is currently in Moscow for meetings with Russian officials and private companies to strengthen trade ties and encourage investment in the Asian nation […]
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The establishment of the joint venture, in which bp and Eni participated at 50:50, was completed. The JV combines the Angolan upstream, LNG and solar activities of the two companies bp and Eni are pleased to confirm that Azule Energy, the new independent 50/50 joint venture that unites the businesses [...]
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Russia is moving to "downsize" a natural gas joint venture, putting the investments of Shell and two Japanese energy companies at risk. A decree issued last Thursday by President Vladimir Putin concerns Sakhalin-2, a project in the Russian Far East that serves as an exporter of liquefied natural gas to Japan. The decision […]
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At the extraordinary European Council, the 27 must decide whether or not to apply the sixth package of sanctions to Russia. An arduous and much debated decision considering that there is no community of intent, each country looks to its own internal problems, especially as regards the issue of energy independence. "We cannot imagine that after the conflict the [...]
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Eni through Vår Energi, jointly controlled by Eni (69.85%) and HitecVision (30.15%), will participate in a total of 10 new exploration licenses as a result of the tender process called "2021 Awards in Predefined Areas" (APA) managed by the Ministry Norwegian Oil and Energy (MPE). Vår Energi was awarded 5 licenses as Operator and [...]
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"After years of investment not only in economic resources but in the commitment to sensitize public opinion, politics and local communities, today, thanks to the words of the ministers Giancarlo Giorgetti (MISE) and Roberto Cingolani (MITE), we are beginning to see a opening up to the immense possibilities of exploiting Italian energy resources and our appeals become concrete. We are well [...]
read more"If Iran returns to full capacity in crude oil exports, a new era for oil will begin." Michele Marsiglia, President of FederPetroli Italia, tells LaPresse. The oil market has come under further pressure, with the US preparing to re-enter Iran's nuclear deal. Brent has seen its largest [...]
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"With the Port of Beirut devastated, much of the Italian export derived from refining to Lebanon will be compromised with heavy losses" declared the president of FederPetroli Italia - Michele Marsiglia. He continues “Several Italian refineries set off oil tankers for Beirut. Lebanon is a country that has always represented a profitable market for Oil & [...]
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On the geophysical maps of most of the world's laboratories, we have represented deposits and areas of the earth with immense natural hydrocarbon reserves. We have oil, it does not end, for the simple fact that the earth reproduces it (by Michele Marsiglia) I am convinced that this article will cause some stomach pain to those analysts, scholars, [...]
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Michele Marsiglia, President FederPetroli Italia, explains why the price of oil has gone below zero and why today Eni is stronger with the confirmation of Descalzi and the entry into the Saudi shareholding, "a strengthening of the Oil & Gas business "……. Since last Monday, the Covid-19 coronavirus has given way to oil in the nightmares of [...]
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Iran's state-owned energy sector, one of the most profitable in the world, has become a major target of international espionage. It was therefore subjected to new sanctions by the United States this year. The purpose of the Washington sanctions is to limit the Islamic Republic's ability to export energy and, thereby, put an end to [...]
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Khalid al-Falih, Saudi oil minister, speaking of the next OPEC + meeting scheduled for next April, said that the United States and China will formulate a healthy global demand for oil later in the year but that it is still too early to change OPEC policy. According to the forecasts expressed by the minister, global demand [...]
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The ruler of the Emirate of Sharjah, Sultan bin Muhammad Al-Qasimi, and the CEO of Eni, Claudio Descalzi, participated today in the ceremony for the assignment to Eni of the exploration rights of Areas A, B and C, onshore of the country. The agreement is the result of the first competitive international tender for the assignment of exploration areas in the Emirate, launched in [...]
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Iraqi oil minister, Jabbar Ali Hussein Luaibi, met Eni's CEO Claudio Descalzi yesterday in Baghdad. During the meeting, Eni's CEO had the opportunity to outline Eni's activities in progress in the country, also in light of the recent results of the development of the Zubair field, where production is [...]
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As was to be expected, Donald Trump's response to the words spoken by Iranian President Rouhani who had declared that the hostile policies conducted against Tehran could lead to the "mother of all wars" was not long in coming. Trump warned the Iranian president not to threaten the United States. In a message [...]
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The tough financial confrontation between the US and China now turns to black gold. In fact, as of November 4th, the United States plans to ban the purchase of Iranian oil and all transactions with the Central Bank of Tehran and financial institutions that violate these sanctions will lose access to payment systems based [...]
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The UAE and China have signed two deals for the Chinese national oil company to acquire stakes in two UAE offshore concessions in an effort to strengthen bilateral economic cooperation. The agreements were signed by Sultan Ahmed Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC) and [...]
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Iraq has signed an agreement with the US energy company Orion for the extraction of gas in the oil fields of Basra, in the south of the country. This was announced in a statement by the Iraqi Oil Ministry. The agreement concerns the development of the Nahr Bin Omar field, which currently produces around 40 barrels of oil per [...]
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A consortium of Chinese companies has been awarded an important project to build an oil refinery with a capacity of 300 barrels of oil per day and a petrochemical complex overlooking the southern Iraqi province of Basra. The oil ministry of the Arab country announced today through a statement. The project will be carried out [...]
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Iraqi Prime Minister Haidar al Abadi and Kurdistan Prime Minister Nichervan Barzani had some dissent on the oil issue at the Davos International Forum. Among the issues at the center of the discussion is the delivery of all the oil produced in Kurdistan to the central authorities in exchange for the assignment to Erbil of 17% [...]
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The US Department of the Interior has given the green light to a record five-year concession plan for offshore oil and gas exploration and extraction. The move will affect the Pacific and Atlantic oceans and the Arctic Ocean. Between 2019 and 2024, approximately 90% of the area will be offered [...]
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Russian oil tankers have supplied North Korea with fuel on at least three occasions in recent months, transferring cargo overboard, according to two major Western European security sources, providing an economic lifeline to the Communist state. Sales of petroleum products from Russia, the second largest oil exporter in the world and [...]
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Eni announces that it has successfully completed the production trial of the Tecoalli 2 well in the Bay of Campeche, offshore Mexico. The results of the production test on the Tecoalli 2 well, located in the Contractual Area 1 (Eni's interest 100%), 200 km west of Ciudad del Carmen and in 33 meters of water depth, confirm [...]
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According to data from the Joint Organizations Data Initiative (Jodi), an international association that monitors data on oil and gas production, Saudi Arabia, in terms of oil production, was overtaken by Russia in September. The latter produced 10.249 barrels per day, clearly ahead of Saudi Arabia's 9.973, reaching 10 billion [...]
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The federal government of Iraq will consider "illegal and non-binding" all oil contracts signed without Baghdad's consent, and reserves the right to take "legal action in national and international courts" against foreign companies acting "against the national interests ". Through a press release, the Iraqi Oil Ministry warns [...]
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In application of the new sanctions established by the United Nations against the Kim Jong-Un regime, China has announced that it will limit exports of refined oil to North Korea starting from 4 October. According to what emerges from the US UN mission, Beijing provided North Korea with XNUMX million [...]
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Russia produced 10,18 million barrels per day in June, maintaining its place at the top of the world oil output rankings for the fourth consecutive month. Data from the Rosstat federal state service highlighted this. With a total production of 9,95 million barrels, Saudi Arabia was ranked second in the same [...]
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Iraqi Oil Minister Jabbar Ali al Luabi met with Saudi Foreign Minister Adel Al Jubeir in Jeddah. According to a press release from the Riyadh Foreign Ministry, bilateral relations and ways to strengthen them are at the center of talks between Al Luaibi and Jubeir. The Iraqi oil minister undertook a visit on 8 August [...]
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The Libyan National Oil Corporation (NOC) said that all the pipelines connecting Al Zawiya to Tripoli, including those that draw from the southern Sharara oil field, have been reopened after a few hours of closure. Pipeline number 16, which connected the field in southern Libya, is operational after "a group of demonstrators" had closed it, explained Noc, [...]
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Saudi Arabia plans to cut oil production until 2018. The agreement is with the Organization of Petroleum Exporting Countries (OPEC) and some non-member states. Saudi Energy Minister Khalid al Falih said this today in St. Petersburg. Also in the Saudi Ministry of Energy he also said that after 2017, a gradual withdrawal will be worked on [...]
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Saudi Arabia is preparing to experience “close to zero” economic growth this year. This is the forecast of the International Monetary Fund which, in the wake of the fall in oil prices, the cut in production and the consequent contraction in revenues for an economy strictly dependent on crude oil, has cut the estimates on the country's GDP, bringing them by [ ...]
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Oil, Russia: Libya and Nigeria participation in the decision to invite Libya and Nigeria to a meeting of the OPEC-Non-OPEC Technical Committee (JTC) to monitor the implementation of the oil output cut agreement will be taken within two weeks . This was announced by the Russian energy minister Alexander Novak. "We have already spoken with the OPEC Secretary General, [...]
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