Royal Dutch Shell Plc said it would cut about 2,800 jobs to meet a pledge of reducing operating costs by $3.5 billion following its takeover of BG Group Plc.
By 2035 global energy consumption increases by 37% from today’s levels with virtually all (96%) the growth in non-OECD countries and more than half coming from India and China.
Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the Farzad B gas field in the Persian Gulf, according to the Mehr news agency. The managing director of ONGC Videsh, the Indian company heading the partnership, said they had not yet been notified about the development.
Of Mr. Albayrak, Aaron Stein offers, “I think you have a new Turkish Energy Minister who is very close to Erdogan, speaks for Erdogan, coming into the cabinet, who may take a very hard line on Turkey's push to decrease the cost of the country's gas import bill, from Iran and Russia.”
As Mexican heavy crude oil exports to the United States have decreased, increasing volumes have been sold to Asian markets, especially India, and to a lesser extent South Korea and Japan.
U.S. Rig Count is down 28 rigs from last week to 709, with oil rigs down 21 to 524, and gas rigs down 7 to 185.
Russia is against an increase in global crude production, rather than favouring a reduction, and remains pessimistic about the possibility of Moscow and Riyadh reaching a production coordination deal, Russia's energy minister Alexander Novak said Thursday. "We are in favor of, not a cut, but of countries not increasing their output, so that demand, which is growing year-by-year, is covered by the oversupply that exists in the market," Novak said.
Turkish state pipeline company BOTAS imported 33.06 billion cubic meters of gas from various sources in Jan.-Oct. 2015, compared to 31.73 billion cubic meters in the same period of 2014.
The 180-km (110-mile) pipeline will be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA.
Statoil and Repsol announce transactions in Norway, UK, US and Brazil