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UN General Assembly president to visit Azerbaijan

12 minutes 2 seconds ago
The President of the General Assembly Tijjani Muhammad-Bande will travel to Baku, Azerbaijan on October 22, to participate in the Summit of Heads of State and Government of the Non-aligned Movement (NAM), Trend learned from the UN.

Azerbaijan’s Agency for Development of SMEs supporting entrepreneurs in product sales

31 minutes 2 seconds ago
The handicrafts of micro and small entrepreneurs were demonstrated at the Create Your Market trade fair, which was organized by the State Employment Service under Azerbaijan’s Ministry of Labor and Social Protection of the Population with the support of the Agency for the Development of Small and Medium-sized Enterprises (SMEs), Trend reports referring to the Agency Oct. 18.

Azerbaijani FM meets Qatar’s new ambassador

2 hours 40 minutes ago
Azerbaijani Foreign Minister Elmar Mammadyarov has received Faisal Abdullah Hamad Abdullah al-Henzab, Qatar’s newly appointed ambassador to Azerbaijan, Trend reports referring to the Azerbaijani Foreign Ministry.

UN General Assembly president to visit Azerbaijan

5 hours 13 minutes ago
The President of the General Assembly Tijjani Muhammad-Bande will travel to Baku, Azerbaijan on October 22, to participate in the Summit of Heads of State and Government of the Non-aligned Movement (NAM)

Nigeria’s Oil Industry Faces An Existential Risk

11 hours 29 minutes ago
Nigeria risks disruption in oil and gas supplies and power generation, due to declining exploration activity and depleting oil reserves, the Nigerian Association of Petroleum Explorationists (NAPE) has warned. Inefficient contract and procurement awarding process, oil theft, and illegal refining are the key obstacles to Nigeria’s oil and gas industry, Ajibola Oyebamiji, president of NAPE, said at a press conference, as carried by news outlet This Day. Oil theft and illegal refining are larger threats to Nigeria’s oil industry than a…
Tsvetana Paraskova

Trump Claims To Have Taken Control Of Middle East Oil

12 hours 59 minutes ago
“We’ve taken control of the oil in the Middle East,” President Trump claimed on Friday afternoon, in response to criticism over his handling of US troop movements out of Syria. “We’ve taken control of the oil in the Middle East, the oil that we’re talking about, the oil that everybody was worried about. We have the U.S. control of that,” Trump said, adding that America’s actions in Syria should have been made years ago under the Obama administration. The words echoed Trump’s earlier tweet, with…
Julianne Geiger

The Only Hope For Oil Markets

15 hours 29 minutes ago
U.S. West Texas Intermediate crude oil futures are edging higher on Friday as traders shrug off worries about an economic slowdown in China and Brexit uncertainty, and shift their focus toward bullish signals from both the Chinese and U.S. refining sectors. The latest U.S. government inventory numbers came in well-above expectations, but traders seem to be unfazed by the news. Despite erasing earlier losses on the daily chart, the markets are still on track to finish the week about 1% lower. China Releases Third-Quarter GDP Figures China released…
Editorial Dept

Bearish Sentiment Takes Hold Of Oil Markets

15 hours 29 minutes ago
Trade war woes and economic concerns have kept a lid on oil prices this week, despite bullish geopolitical news in the Middle East. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Friday, October 18th, 2019Oil prices were down on Friday morning as the global economy continues to struggle with the realities of the U.S.-China trade war and crude inventories continue to build. Saudi Aramco IPO to be delayed. Just days before the official launch of the IPO was to be…
Josh Owens

A Crisis Is Brewing For Offshore Oil

15 hours 29 minutes ago
1. Offshore drill companies hammered- The stock prices of offshore drillers have declined sharply this year, falling faster and farther than the price of oil. - “Yet the offshore rig market as a whole hardly seems to notice, propelled by the increased sanctioning of greenfield projects coupled with a substantial amount of brownfield work aimed at maintaining legacy production,” Rystad Energy said in a report. - Drillship utilization has fallen sharply since the oil bust in 2014, but rebounded by 14 percentage points in a nine-month…
Editorial Dept

“Of Course Not”: Venezuela Slams Russian Takeover Rumors

15 hours 59 minutes ago
Venezuela will not hand over control of its cash-strapped state oil firm PDVSA to Russian oil giant Rosneft, a close aide to Nicolas Maduro told Russian news agency RIA Novosti, dismissing such reports as false. “No, of course not,” Maduro’s close advisor Diosdado Cabello said, when asked could PDVSA be handed over to Rosneft.   Venezuela has good relations with Rosneft and excellent relations with Russia, Cabello said. Vladimir Putin and Rosneft’s CEO Igor Sechin are Venezuela’s best friends, Cabello said, but…
Tsvetana Paraskova

The Week In Russia: 2019 In The Middle East, 1938 Back Home?

16 hours 31 minutes ago
As headlines proclaim Russian President Vladimir Putin the Middle East’s new “overlord” and the go-to guy for the region, strikes on civilians in Syria provide a chilling backstory. At home, opposition politician Aleksei Navalny says the state campaign against his operations smacks of 1938.