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No intervention from US as Iranian fuel relief tanker docks in Venezuela

25 May 2020

Venezuelan state TV airs pictures of officials celebrating arrival. Four more tankers still en route. Trump official slams “Maduro's expensive deals with another pariah state".

Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields

22 May 2020

Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.

US ire on horizon as Venezuelan navy told to escort Iranian tankers bringing fuel relief

21 May 2020

White House officials loathe to see one Trump-sanctioned nation coming to the assistance of another, especially in a presidential election year.

Borealis pulls out of $6.8bn plan to build petrochemical plant in Kazakhstan

20 May 2020

Austrian company cites COVID-19 uncertainties. Move is a blow to Kazakh plans to use vast gas reserves to make more value-added products. Nur-Sultan already struggling with oil price crisis.

Gazprom starts designing $20bn gas pipeline to China

19 May 2020

Russia’s Gazprom is pushing ahead with plans to build a second major gas pipeline to China.

NRG: A slow and painful recovery

19 May 2020

The market may be showing early signs of a recovery, but for many oil and gas companies, the worst is still to come

TEHRAN BLOG: Trump frets as Iranian fuel tanker steams to Venezuela

15 May 2020

Maduro said to be paying Tehran in bars of gold for gasoline to relieve acute shortages. US president—needing a foreign policy victory such as the dislodging of the strongman ahead of his re-election bid—is reportedly considering his options.

ZapSib cushions the blow of the coronavirus crisis to Sibur’s 1Q20 results

14 May 2020

Leading Russian petrochemical company Sibur's revenues were down 7.8% year on year due to falling prices in ruble terms caused by the current economic crisis, but the newly completed ZapSib facility has cushioned the blow.

INTERVIEW: Bakhtiyor Fazilov, major shareholder in Uzbek drilling company ERIELL Group and Enter Engineering

7 May 2020

ERIELL also one of three major independent drilling companies in Russia. Well construction and overhaul services provided to top oil and gas companies. Enter Engineering has important role in Uzbekistan’s COVID-19 response.

Poland signs contract with Italy’s Saipem to lay Baltic Pipe

4 May 2020

The €2.1bn Baltic Pipe will carry gas from the Norwegian Sea via Denmark to Poland, starting in 2022. Poland needs the pipeline to reduce its dependence on Russian gas imports.

Mongolia scraps $3bn IPO for shares in flagship coal mine

29 April 2020

Decision made amid pandemic disruption to financial markets and with one eye on vote-shifting distrust of foreign investors ahead of elections.

Turkey’s electricity producers assess April collapse in demand at 20%

27 April 2020

Producers association expects power spot price to dive 40% in pandemic-hit April and 15% in 2020. Even operational profitability tough to sustain. Opposition says government policy encourages building of plants country does not need.

Azerbaijan ‘forced to tell BP to cut oil production sharply’

24 April 2020

Extent of OPEC+ output restrictions drawn up to tackle price crisis leaves Baku with little choice but to include energy major in reductions.

MOSCOW BLOG: Russia caught out by oil plunge

24 April 2020

Did Russian President Vladimir Putin just screw up in a spectacular fashion? Russia pulled out of the OPEC+ production cut deal on March 6, setting off a downward spiralling of prices that ran out of control

UPDATED: Oil prices fall to less than zero for the first time in history

20 April 2020

Oil prices fell to less than zero for the first time in history as producers ran out of places to store crude on April 20.

Assets of Azerbaijan’s wealth fund fall $2bn in defence of manat from pandemic, oil price upheaval

20 April 2020

Baku has spent the past few years recovering from the previous collapse of hydrocarbon prices and building its financial firepower to fend off any repeat.

Russian utilities in a time of corona, first non-payments appear

16 April 2020

Russian utilities are coming under pressure as customers are expected to start reneging on their bills and demand for power falls off heavily, as most of the country will be on a strict lockdown for all of April.

ALACO DISPATCHES: Europe struggling to salvage Iran nuclear deal

16 April 2020

American sanctions leave Europe unable to offer Iran the economic support it demands for compliance.

Saudi public debt and sukuk in a time of COVID-19 and low oil prices

14 April 2020

Saudi Arabia plans to expand its sukuk borrowing programme to cover the budget deficit caused by low oil prices