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Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft and ICS Holding have set up a joint venture to develop digital products for the oil and gas industry. Pursuant to the Protocol of December 20, 2019, Gazprom, Naftogaz of Ukraine, Gas Transmission System Operator of Ukraine. The Federal Agency for Mineral Resources approved the expert opinion. The development strategy for the new...

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OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC’s output declined last month as several Persian Gulf producers. OPEC+ will adjust its output target and redistribute production cuts. The implementation of cutbacks aimed at balancing global oil markets. Oil production in the US has continued to expand. The energy ministers of Saudi Arabia and Russia called on all producers. It have been hearing...

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Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

Energy sector activity dipped again in the fourth quarter, according to executives responding to the Federal Reserve Bank of Dallas Energy Survey. The Federal Reserve Bank of Dallas has appointed Von Washington to its El Paso Branch board of directors. The Federal Reserve Board of Governors has appointed Claudia Aguirre of Houston to the Federal...

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Aramco, Lebanon, Persian Gulf oil: A guide to Middle East risks in 2020

Aramco, Lebanon, Persian Gulf oil: A guide to Middle East risks in 2020

If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in. Saudi Aramco welcomes the new agreement signed between the Kingdom of Saudi Arabia and the State of Kuwait. The year opened with five Gulf Arab economies joining JPMorgan...

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Saudi Arabia, Kuwait agree to resume oil output at shared fields

Saudi Arabia, Kuwait agree to resume oil output at shared fields

Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Kuwait has said it is ready to host Yemen’s opposing factions for UN-sponsored talks. Former Kuwaiti lawmaker Walid Al Tabtabaie, convicted for storming parliament in 2011. The government submitted its resignation to Kuwait’s Emir...

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Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries. Oil prices were little changed on last Monday as Russia said an OPEC-led producer group may consider easing output cuts next year. The Trump administration on last Thursday renewed a waiver for companies...

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Apache, Total form Suriname offshore exploration joint venture

Apache, Total form Suriname offshore exploration joint venture

Apache and Total announced a joint venture agreement to explore and develop Block 58 offshore Suriname. Everybody in the offshore oil and gas business has heard of the new oil El Dorado- Guyana. Kosmos Energy has again failed to unearth oil at an exploration well offshore Suriname. Offshore oil and gas company Kosmos Energy will...

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Honeywell acquires intelligent-gas-monitor maker Rebellion Photonics

Honeywell acquires intelligent-gas-monitor maker Rebellion Photonics

Honeywell has acquired Rebellion Photonics, a Houston-based provider of intelligent, visual gas monitoring solutions. A company led by former Honeywell International Inc (HON.N) chief executive David Cote. Diversified manufacturer Honeywell International Inc fell short of Wall Street estimates for quarterly revenue. Kuwait Integrated Petroleum Industries Co (KIPIC) has appointed a unit of U.S. multinational Honeywell...

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Exxon, Chevron targeted by climate-activist investor group

Exxon, Chevron targeted by climate-activist investor group

The Dutch activist fund that has filed shareholder resolutions pressuring major oil companies in Europe. Company announced that it has sanctioned the Anchor project in the U.S. Gulf of Mexico. Capital allocation decisions and lower price outlook expected to result in non-cash after tax charges in fourth quarter 2019. Company announced a contribution of $100,000...

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Shell and Rice University partner on hydrocarbon-based zero-emissions technologies

Shell and Rice University partner on hydrocarbon-based zero-emissions technologies

Rice University has launched Carbon Hub, a major research initiative to create a zero-emissions future. Company announced today that Shell’s New Energies business* has acquired an almost 20% stake. Company embracing the challenge of ensuring business relevance in a fast-changing digital landscape. Shell is installing solar photovoltaic panels on the roofs of seven lubricant plants...