News / International
Caspian Crude Swaps Resume to Cure Iran Fuel Shortages
Iran has announced the resumption of swaps of crude oil for petroleum products with the Caspian littoral states – Turkmenistan and Kazakhstan, after a five year suspension.
Iran Seeking GDP Impetus in Mining, Downstream Sectors
In response to the declining oil prices, Iran plans to increase the mining sector’s share in the country's GDP from the current less than 1% to more than 2% within ten years.
China Establishes AIIB, Potential Rival to WB
The China-led Asian Infrastructure Investment Bank has been established end December as a potential rival to the World Bank and the Asian Development Bank - expected to be operational already in early 2016.
Gazprom to Increase Gas Supplies to Azerbaijan
Russian Gazprom and State Oil Company of Azerbaijan Republic (SOCAR) held negotiations seeking to increase Russian gas supply to the country above the volumes set by the existing agreements.
Total to Cut Spending in Indonesia’s Aging Gas Block
France's Total announced its plan to cut its spending in Indonesia's giant Mahakam gas block by 42% to $1.1b in 2016, down from $1.9b in 2015.
GE Wins $15.5b Hydropower Plant Contract in China
General Electric Co. has won a $15.5b contract to supply turbines to Wudongde hydropower plant being built in China.
Gazprom to Launch Siberia Gas Pipeline to China
Russia's Gazprom has awarded contracts to Stroygazmontazh (SGM) worth $2.8b for the construction of the Power of Siberia gas pipeline to China.
Ukraine to Purchase French Gas, Replacing Russian
The International Finance Corporation (IFC) from the World Bank group would provide a trade finance credit of up to $200m to Ukraine's national oil and gas company Naftogaz for it to acquire natural gas from France's Engie.
