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Lukoil closes sale of Sicilian refinery
Lukoil has closed the sale of its ISAB oil refinery on the Italian island of Sicily to G.O.I. Energy, the company reported on May 4. The completion of the deal, reached in January, comes after it received approval from Italian authorities last month.
Russia to sell gas to Uzbekistan through reversed flow Soviet-era gas pipelines
Russia will sell gas to the energy-hungry Uzbekistan by reversing the flow of the Soviet-era gas pipeline network that used to transport Turkmen gas to Russia.
Pakistanis turn to Iranian diesel in face of record inflation
Pakistan’s failing economy and record high inflation have prompted Pakistani drivers to turn to smuggled Iranian diesel, which is selling at a discount to that produced by Pakistan’s refineries.
Iraq maintains gas focus as work on megaproject nears
Iraqi Oil Minister Hayan Abdulghani expects that the country’s multi-billion-dollar deal with French super-major TotalEnergies will be signed within two weeks.
Gas Transmission System of Ukraine announces expansion of gas transport infrastructure to attract European customers.
During the Flame-2023 European Gas Conference, Gas Transmission System of Ukraine (GTSOU) CEO Dmytro Lyppa announced efforts to expand the gas transport infrastructure of Ukraine to attract European service customers, the company stated on May 9.
Russian oil and gas budget revenues down 64% y/y in April
Russian federal budget revenues from oil and gas contracted by 64% in April versus the same month last year, and were down 5.9% from the level in March, the finance ministry reported on May 4, citing higher subsidies to refineries.
Novatek's Michelson reportedly pushed the Russian government to let Shell receive proceeds from Sakhalin-2 sale
Novatek CEO Leonid Mikhelson secured the consent of Russian President Vladimir Putin to not only pay Shell RUB95bn ($1.2bn) for its 27.5% stake in the Sakhalin-2 LNG and oil project but allow the UK major to withdraw the funds out of Russia.
Germany to support expansion of Kenya’s Olkaria geothermal project
Germany has committed to providing funding and technical support to Kenya for the planned capacity expansion of the Olkaria geothermal site operated by state electricity generator KenGen.
Chinese firm CPP to finance, supply pipe for $5bn East African Crude Oil Pipeline (EACOP) project
China Petroleum Pipeline Engineering Co. Ltd (CPP) has stepped in to offer financing and construction line pipe for the East African Crude Oil Pipeline (EACOP) stretching from Uganda to the Tanzania coastline.
Russia hikes tax on oil industry
Russia is hiking oil industry taxes to offset the impact of the G7+EU price cap on the country’s oil exports, dealing another blow to a sector that already has one of the biggest tax burdens in the world.
Over 10 companies planning to build biomethane plants in Ukraine
More than ten companies are seeking to build 36 biomethane plants in Ukraine, the Gas Transmission System of Ukraine (GTSOU) said in a statement on May 8.
Indian government targets 9 GW of energy storage capabilities
The government of India has started the administrative process behind what will be the largest ever tender issued by the ruling party.
Iran, Syria agree MoU, roadmap for oil sector co-operation
Iran and Syria have signed a memorandum of understanding and outlined a roadmap for cooperation in the oil, gas, refining and petrochemical sectors. Iranian Oil Minister Javad Owji discussed bilateral ties with Syria's Firas Hassan Kaddour.
India, China baulk at ending use of coal in lead-up to G20 summit
India, with China's support, is attempting to establish agreement within the G20 group that would allow countries to choose their own roadmap for reducing carbon emissions instead of imposing a deadline for ending the use of fossil fuels.
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