Economy

Putin and Miller give start to Turkish Stream pipeline segments jointing

Putin and Miller give start to Turkish Stream pipeline segments jointing

Russian President Vladimir Putin and Chief Executive Officer of Gazprom Alexei Miller took part in jointing of shallow and deepwater segments of the Turkish Stream gas pipeline in Friday. The head of state …

Putin: Russia ready to deliver gas to Europe through Turkey

Putin: Russia ready to deliver gas to Europe through Turkey

Russia is ready to supply gas to South and Southeast Europe via Turkey, the country's President Vladimir Putin said during the telephone conversation with the Turkish President Recep Tayyip Erdogan. …

Russia, UAE trade ties on upswing

Russia, UAE trade ties on upswing

The two countries mull joint investments in energy sector

Iran starts gas exports to Iraq

Iran starts gas exports to Iraq

Iran started a project to export natural gas to its western neighbor – Iraq.  Exports of around 7 million cubic meters per day (bcm/d) to Iraq’s capital Baghdad had started from the late hours of Wednesday, June 21, the …

Turkish exports to Qatar triple

Turkish exports to Qatar triple

Turkish exports to Qatar have tripled to $32.5 million since four Arab countries began boycotting the Gulf state on June 5, Turkey's Customs and Trade Minister Bulent Tufenkci said. Saudi Arabia, the UAE, Egypt and …

 Oil edges up, but set for worst H1 performance in 20 years

Oil edges up, but set for worst H1 performance in 20 years

Oil prices edged up on Friday, recovering some of the steep falls earlier in the week, but crude is still set for the worst first-half decline in two decades despite ongoing production cuts. As of 07:59am (MSK) Brent crude futures were …

Putin to watch joining of Turkish Stream’s shallow water and deep-sea sections

Putin to watch joining of Turkish Stream’s shallow water and deep-sea sections

Russian President Vladimir Putin will watch in the Black Sea resort city of Anapa on June 23 the ceremony of joining the Turkish Stream gas pipeline’s shallow water and deep-sea sections, the Kremlin press office said. …

Iran plan to buy 73 Airbus jets

Iran plan to buy 73 Airbus jets

Airbus said that two Iranian airlines had committed to buying 73 planes in a last-minute flurry of deals for the European planemaker at the Paris Airshow. Iranian domestic carrier Zagros Airlines signed a memorandum of understanding …

Over 20,000 business ideas registered for ‘Produce in Georgia’

Over 20,000 business ideas registered for ‘Produce in Georgia’

Over 20,000 new business ideas have been registered for the Micro and Small Business Promotion program of the state program ‘Produce in Georgia’. During the first stage of the business registration process which was …

 Gazprom to build Turkish Stream at its own expense

Gazprom to build Turkish Stream at its own expense

Investment in the Turkish Stream gas pipeline project are estimated at $6 bln, the project can be implemented only at the expense of Gazprom, Deputy Chairman of Gazprom Management Committee Andrey Kruglov said at a press …

 Oil Prices Flat Set For Worst First Half Since 1997

Oil Prices Flat; Set For Worst First Half Since 1997

So far this year, oil has lost 20% in value

Azerbaijan#039s Central bank to discuss cutting discount rate on August 1

Azerbaijan's Central bank to discuss cutting discount rate on August 1

Central Bank of Azerbaijan will view the issue of reducing the discount rate at its next meeting on August 1. CBA said that the management, which held a meeting recently, noted the potential to reduce the discount rate from the 2H2017, …

Lukoil CEO blames market speculators for oil price decline

Lukoil CEO blames market speculators for oil price decline

President of Russian oil major Lukoil Vagit Alekperov believes that the temporary decline in oil prices was caused by speculators on the market and fears its sharp growth. "We all, including analysts and …

SOCAR drilling new well at Oil Rocks field

SOCAR drilling new well at Oil Rocks field

Azerbaijan’s state oil company SOCAR will additionally produce around 3.65 thousand tons of oil and 365 thousand cubic meters of gas annually through commissioning of a new well which is being drilled on the Oil Rocks offshore …

France#039s Total to Go Ahead With Major Iran Gas Project

France's Total to Go Ahead With Major Iran Gas Project

The French group sees the downturn in the global energy market as an opportunity to clinch deals for cheap resources

Investors welcome push to prise open Kazakhstan

Investors welcome push to prise open Kazakhstan

A sluggish economy adds impetus to President Nazarbayev’s aim to begin privatisation and reforms

Dollar exceeds 60 rubles again

Dollar exceeds 60 rubles again

Today the US currency during the trading process at the Moscow Stock Exchange has crossed its psychological barrier of 60 rubles for the first time since February 2017. The cost of the euro has crossed the barrier of 67 rubles for the first …

 Russian companies interested in development of Iran#039s oilfield

Russian companies interested in development of Iran's oilfield

The state-run National Iranian Oil Company (NIOC) said it had certified five more companies from Russia and Azerbaijan to bid for Iranian upstream energy projects. "NIOC has added Russia's Gazprom Neft, Rosneft, Tatneft and …

BRICS Countries Cooperate on Energy Efficiency

BRICS Countries Cooperate on Energy Efficiency

Energy efficiency has been high on the agenda of the BRICS group

ADB to fund Georgian secondary roads project

ADB to fund Georgian secondary roads project

The Asian Development Bank (ADB) will allocate $80 million to help improve the conditions of secondary roads in Georgia. An agreement aims at rehabilitating around 50km of road connecting Dzirula-Kharagauli-Moliti-Phona-Chumateleti, as …