Economy

Is trade war between EU and US on the horizon?

The European Union is ready to react if its industry was hit by US sanctions, European Commission spokesman Margaritis Schinas said. "We have made it clear to the US administration at the highest level that we …

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IMF mission sums up results of its visit to Georgia

Georgia’s economic activity performed better than expected, with the economic growth of 4.8% in 2017, according to the International Monetary Fund mission, which visited Georgia last week to discuss recent economic and financial …

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Turkish Stream offshore section laid at 48%

Already 884 kilometers of pipes for the Turkish Stream gas pipeline's offshore section (84%) have been laid,  the project's operator said. According to the operator, date, 884 km, or about 48% of the …

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OPEC oil output cut deal exceeded by 33%

OPEC Secretary-General Mohammad Barkindo said that the organization registered 133% compliance with agreed output reduction targets in January across all participating OPEC and non-OPEC countries. According to Barkindo, …

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Lavrov: Balkans need Turkish Stream

Russia's Foreign Minister Sergei Lavrov said that the Turkish Stream gas pipeline project is to improve opportunities for Balkan countries to receive Russian gas. "We and the Turks seek to improve …

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NOVATEK and Saudi Aramco agree on cooperation

Russia's NOVATEK signed a Memorandum of Understanding (MOU) with Saudi Aramco, the Saudi Arabian National Oil Company. According to the MOU, the parties agreed to collaborate internationally on natural gas projects, including LNG …

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American ExxonMobil becomes shareholder of BTC oil pipe

American oil company ExxonMobil became a shareholder of BTC Co., which manages the Baku-Tbilisi-Ceyhan oil pipeline, reads BP's report on the results of activities in Azerbaijan in 2017, AzerNews reports. ExxonMobil acquired 2.5 …

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Merkel sees no threat in new gas pipe to Russia

The planned Nord Stream 2 gas pipeline connecting Germany and Russia poses no threat to Europe’s energy security, Chancellor Angela Merkel said on Friday, publicly disagreeing with her Polish counterpart, Reuters …

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TANAP to become operational on June 30

BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones said that gas delivery from Azerbaijan’s Shah Deniz gas condensate field to Turkey via the Trans-Anatolian Natural Gas Pipeline (TANAP) will …

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