2015

In its Energy Demand Forecast, the institute said the country's jet fuel demand is expected to increase 5.5% on year to 36.2 million barrels next year, compared with 34.4 million barrels estimated for this year.

The joint venture between Rosneft and BP based on Taas-Yuryakh Neftegazodobycha LLC will continue further development of the Srednebotuobinskoye oil and gas condensate field which is one of the largest fields in the Eastern Siberia. The JV will also undertake the development of suitable infrastructure for further exploration and development of the region’s reserves.

"Indonesia is an important country for Saudi Arabia, a rising global economy, we would like to be a part of the growth of Indonesia," Saudi Aramco CEO Amin H Al-Nasser said at the signing of the initial agreement to upgrade the Cilacap refinery in Indonesia's Central Java province.

"We highly value our interaction within consultations on the situation in the oil market between OPEC and leading non-OPEC producers," Novak said.

Britain's oil and gas sector has lost over 5,000 jobs since late 2014 as a slump in oil prices has severely squeezed oil companies' budgets and led to project cancellations.

Nowadays the proven shale gas reserves across the globe were estimated at about five trillion cubic meters, which was less than three per cent of the world's aggregate proven gas reserves.

The government hopes international companies will commit at least $100 billion that Iran says it needs to boost oil-production capacity by more than 1 million barrels a day.

Rosneft received advance payments for oil supplies worth more than $15bn in the third quarter — the first large-scale financing that the state-controlled Russian group has secured since western sanctions were imposed upon it.

“The regional potential is being realised, and the Israeli gas discoveries look to play a key role in shaping the regional energy market,” said Yossi Abu, chief executive of Delek Drilling, in a statement announcing the Egyptian agreement. “The deal with Dolphinus is further proof of the political and economic benefits that may be derived through regional co-operation between states and energy companies.”

“I think, Iran can become a major gas supplier to the Persian Gulf and regional markets, but European LNG markets are a tough competitive place for Iran."