Statoil

Statoil admits anti-Russian sanctions hurt its business

Norwegian oil and gas company Statoil admitted that anti-Russian sanctions seriously damaged its business in Russia. It doubts that it will be able to implement the projects launched in the country, company's annual report says. …

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Statoil to sell its TAP share for 208 million euros

Norway's Statoil will sell its interest in the Trans-Adriatic Pipeline (TAP) project to the Italian Snam company for 208 million euros, Statoil stated in its report. This amount is for 20% of Statoil’s share in TAP and its …

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Total sells its 25% to Gazprom

French company Total withdrew from the Shtokman project by selling its 25% in Shtokman Development AG to Gazprom. Now the Russian gas corporation owns all 100% shares. The corresponding transaction was carried out on July 7. …

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Ankara buys shares of TAP

Turkey intends to acquire a share in the Trans-Adriatic Pipeline (TAP), a source in the Turkish government said. The source said the acquisition of a share in the TAP is a historic chance for Turkey, and Ankara is not going to miss it, …

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Statoil to sell its stake in TAP project

Norway's Statoil will sell its 20% stake in the Trans Adriatic Gas Pipeline (TAP) project, the President of SOCAR Rovnag Abdullayev said. According to him, there is a company which is ready to buy its stake. "Several companies …

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SOCAR to increase oil extraction

Khoshbkht Yusifzadeh, the first vice president of the State Oil Company of the Azerbaijan Republic (SOCAR), said at the presidium of the Azerbaijan National Academy of Sciences that the company will increase oil extraction by optimizing the process. He explained that most extraction was conducted at a depth of 6,000-7,000 meters, where finding oil was unlikely. There are gas condensate wells with 240 million tons of condensate reserves.

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Eldar Saetre becomes Statoil's new president

The Board of Directors of Statoil has appointed Eldar Saetre as the president and CEO of the Norwegian oil and gas group, the press service of the company reported.  Statoil is one of the most important European partners of "Rosneft". In particular, the companies have been implementing joint projects to develop sites in the Sea of Okhotsk and the Barents Sea since last year.  

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Iran puts two phases of South Pars into operation

Iran has put into operation the 15th and 16th out of 28 plots of world's largest gas field "South Pars" in the Persian Gulf, said the commander of the construction and reconstruction unit of the military-industrial complex corporation 'Khatam al-Anbiya', belonging to the elite Iranian military unit 'The Army of the Guardians of the Islamic Revolution", Brigadier-General Ebadollah Abdollahi.

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