September 2019

Azerbaijan's economy is continuing to recover from a banking crisis and recession. Real GDP growth reached 1.4 percent in 2018 and 2.4 percent in the first half of 2019, supported by increases in natural gas production and activity in the services sector.

Petronas Profit After Tax (PAT) rose 9.0 per cent to RM28.9 billion, from RM26.6 billion in the corresponding period last year. The improved results were delivered on the back of higher revenue, but the increase was partially offset by higher product costs.

Brent gained $1.44 to $65.04 a barrel, WTI was up 89 cents at $59 a barrel.

в ходе разговора Владимир Путин и Мухаммед Бен Сальман Аль Сауд обсудили ситуацию на глобальном рынке углеводородов, в том числе ход реализации договоренностей в формате ОПЕК+, а также выразили обоюдный настрой на продолжение тесной координации в целях дальнейшей стабилизации мировых цен на нефть

Saudi Arabia on Wednesday announced it has joined the International Maritime Security Construct to secure the Mideast's waterways.

The alliance protects the interests of its members and their merchant ships when passing through maritime corridors. Its operation area covers the Strait of Hormuz, Bab Al Mandab, the Sea of Oman and the Arabian Gulf.

Iranian Minister of Petroleum Bijan Zangeneh stressed the non-political nature of oil, saying the US was using oil as a weapon which was not the right approach.

The share of U.S. total energy consumption that originated from fossil fuels has fallen from its peak of 94% in 1966 to 80% in 2018. The total amount of fossil fuels consumed in the United States has also fallen from its peak of 86 quads in 2007. Since then, coal consumption decreased by 10 quads and petroleum by 2 quads, more than offsetting a 7 quad increase in natural gas consumption.

Bulgaria’s state gas company signed a €1.1 billion ($1.2 billion) contract on Wednesday with Saudi-led group Arkad to build a gas pipeline to carry mainly Russian natural gas.

Nuclear and renewable generation should be used in combination to make the most of their synergies in integrated systems to help the world meet carbon reduction goals and limit temperature rise, leaders from governmental and non-governmental organisations and industry said yesterday. Innovative nuclear technologies will play their part in integrated systems alongside renewables, with combined uses of heat and power, hydrogen production, desalination and industrial decarbonisation.