Economy

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OPEC to review several options of oil output cuts in Vienna

OPEC to review several options of oil output cuts in Vienna

OPEC will review several options of the future of the oil output cut deal between OPEC and other producing countries on at the meeting on May 15, United Arab Emirates Energy Minister Suhail al-Mazrouei said.  He …

Do Russian people start to trust banks?

Do Russian people start to trust banks?

The All-Russian Public Opinion Research Center (VCIOM) has conducted a public opinion poll, according to which results, the majority of Russians (52%) believe that now it is better to deposit available funds into a bank account (41% of Russians …

Difference between output and exports bedevils OPEC oil goals

Difference between output and exports bedevils OPEC oil goals

The fact stands behind the recent slump in crude oil prices

Large franchises exhibition to be held in Tbilisi

Large franchises exhibition to be held in Tbilisi

The capital of Georgia is going to host BUYBRAND international franchises exhibition. The exhibition will become largest event for small and medium business in the South Caucasus. More than 100 brands will participate in the event. They …

Russia continues oil output cuts

Russia continues oil output cuts

Russia believes joint efforts of OPEC and non-OPEC counties aimed at rebalancing the global oil market have been very effective, the Russian Energy Minister Alexander Novak said. Novak backed extending oil output curbs …

Novak: Riussia supports oil output cut deal extension

Novak: Riussia supports oil output cut deal extension

Russia considers that prolongation of agreement between OPEC and non-OPEC countries on extraction reduction will speed up oil market recovery, the Russian Energy Minister Alexander Novak said. "We are …

Gazprom starts construction of Turkish Steam#039s offshore section

Gazprom starts construction of Turkish Steam's offshore section

Switzerland's Allseas Group S.A. has begun constructing the first stage of the Turkish Stream pipeline, Gazprom said. Gazprom added Allseas' vessel Audacia had started laying pipes on the Russian shore of Black …

Iran will go along with whatever OPEC decides on crude cutbacks

Iran will go along with whatever OPEC decides on crude cutbacks

OPEC meets on May 25 in Vienna to discuss the output cuts

Turkmenistan, Germany to hold business talks

Turkmenistan, Germany to hold business talks

The next meeting of the joint Turkmenistan-Germany working group will be held May 11 in Ashgabat, the Turkmen government said in a message, AzerNews reported. This issue was considered at a meeting of the Cabinet of Ministers of …

Liana Dzhervalidze: Georgia is looking forward for launch of the Southern Gas Corridor’’

Liana Dzhervalidze: "Georgia is looking forward for launch of the Southern Gas Corridor’’

One of the leading Georgian experts in the energy sphere speaks about the importance of the upcoming launch of the Southern Gas Corridor for Georgia

Azerbaijan: racing to develop natural gas potential

Azerbaijan: racing to develop natural gas potential

Azerbaijan will be focused on the Shah Deniz field and the Southern Gas Corridor initiative

Six things to know about the economic outlook for the Caucasus and Central Asia

Six things to know about the economic outlook for the Caucasus and Central Asia

Growth in these regions is expected to pick up this year as the external environment improves

Germany’s Thyssenkrupp to supply 25 modern escalators for Baku Metro

Germany’s Thyssenkrupp to supply 25 modern escalators for Baku Metro

German company Thyssenkrupp Elevator has won a tender procedure of the Baku Metro, abc.az reports. The Company reports that in accord with the concluded deal the tender winner will deliver 25 escalators to the Baku Metro. …

EU to allocate 32 million euro for Georgia#039s integration

EU to allocate 32 million euro for Georgia's integration

The EU Commissioner for European Neighborhood Policy and Enlargement Negotiations, Johannes Hahn, and the EU Commissioner and Georgia’s State Minister for European and Euro-Atlantic Integration Viktor …

Kazakhstan ready for talks on extending oil output cuts

Kazakhstan ready for talks on extending oil output cuts

Kazakhstan is ready to hold talks with OPEC on extending global oil output cuts into the second half of this year, Kazakh Oil Minister Kanat Bozumbayev said. He noted Kazakhstan aimed to cut crude output further in May …

Oil wipes out OPEC-inspired gains with break below $50/bbl

Oil wipes out OPEC-inspired gains with break below $50/bbl

OPEC isn't the most important player in the market any more

OPEC deal does not save oil - oil prices hit bottom

OPEC deal does not save oil - oil prices hit bottom

The cost of the July futures of Brent crude oil on London's ICE trading decreased by 2.8% to $46.63 per barrel, breaking the minimum of November 29, 2016. For the first time since November 30, 2016 the oil price declined below the …

Construction work on Turkey#039s first nuclear plant to start next month, minister says

Construction work on Turkey's first nuclear plant to start next month, minister says

Construction work at Turkey's first nuclear power plant is due to start in a month, Economy Minister Nihat Zeybekci said on Thursday, Reuters reported. Zeybekci made the comment in an interview with broadcaster NTV. …

Azerbaijan Central Bank at least halves investment in US Treasuries

Azerbaijan Central Bank at least halves investment in US Treasuries

The Central Bank of Azerbaijan has at least halved its investments in US Treasuries, and taking into account the devaluation of the Azerbaijani currency, the reduction of such investments was even larger, abc.az reports. According to …

WTI, Brent down 4%

WTI, Brent down 4%

The selling in crude oil accelerated in afternoon US trading, with the US and international benchmarks both down 4 per cent on the day, and trading at levels last seen in November, Financial Times reported. West Texas Intermediate fell …