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Petroleum / Mining in Western Europe

  • OPEC, non-OPEC agree first global oil pact since 2001

    AUSTRIA, 2017/06/02 OPEC and non-OPEC producers on Saturday reached their initial transaction since 2001 to curtail oil output jointly and relieve a world glut next additional than two years of low prices that overstretched a lot of budgets and spurred unrest in some nations. With the transaction finally signed next almost a year of arguing within the OPEC and mistrust in the willingness of non-OPEC Russia to play ball, the market’s focus will presently switch to compliance with the agreement. OPEC has a long history of cheating on output quotas. The fact that Nigeria and Libya were exempt from the transaction due to production-denting civil strife will further pressure OPEC leader Saudi Arabia to shoulder the bulk of supply reductions.

  • West African Countries Ban 'Dirty European Fuel'

    EUROPEAN UNION, 2016/12/08 Five west African nations have banned some European fuel imports, because they say they are too dirty. Nigeria, Benin, Togo, Ghana and Côte d'Ivoire are introducing stricter standards to cut vehicle emissions and improve air quality in cities. Nigeria, Benin, Togo, Ghana, and Côte d'Ivoire have decided to ban fuel coming from Europe next campaign group Public Eye issued a damning statement which said that European trading firms have been exploiting weak regulations in west Africa to export fuels with levels of sulphur up to 300 times higher than those permitted in Europe.

  • Areva and Niger's uranium fight

    FRANCE, 2016/08/03 At the same time as France began mining uranium ore in the desert of northern Niger in the early 1970s, Arlit was a cluster of miners' huts stranded between the sun-blasted rocks of the Air mountains and the sands of the Sahara. The 1973 OPEC oil embargo changed that. France embraced nuclear power to free itself from reliance on foreign oil and overnight this remote corner of Africa became crucial to its national interests.

  • Nord Stream 2 to increase reliability of gas supply to Europe

    FRANCE, 2015/11/03 Led by Alexey Miller, Chairman of the Gazprom Management Committee, the Company’s delegation, paid a working visit today to France. As part of the visit, a working conference took place in Paris between Alexey Miller and Jean-Pierre Jouyet, Chief of Staff of the President of France. It was pointed out that against the declining domestic production in Europe, the request for gas imports would grow. Russia, as a reliable energy supplier to the European economy, will be able to fasten gas export to the extent required.

  • Vienna hosted today a working conference between Alexey Miller,

    AUSTRIA, 2015/11/02 Vienna hosted today a working conference between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the OMV Executive Board. The parties discussed the cooperation in Nord Stream 2 and the potential investment swap. During the conference Alexey Miller and Rainer Seele signed a Memorandum of Considerate on oil supply. The document reflects the parties' intent to consider a possibility of oil supply to OMV from Gazprom Group portfolio.

  • Shell halts Alaska offshore drilling project

    NETHERLAND, 2015/09/28 Royal Dutch Shell on Monday announced it’s stopping offshore oil exploration in Alaska for the foreseeable next next finding deposits uneconomic. The decision comes next the company got final approval to drill in the area a month ago. "The Shell Alaska team has operated safely and exceptionally well in each aspect of this year's exploration program," Director of Shell Upstream Americas, Marvin Odum said in a statement. "Shell continues to see significant exploration potential in the basin, and the area is likely to from presently on be of strategic importance to Alaska and the US. However, this is a clearly disappointing exploration outcome for this part of the basin.”

  • German company ThyssenKrupp Metallurgical Products has been given exploitation rights for rare earths in Burundi

    GERMANY, 2015/05/14 German company ThyssenKrupp Metallurgical Products has been given exploitation rights for rare earths in Burundi - a country in turmoil over President Pierre Nkurunziza's bid for a third term. Private mining company Rainbow Rare Earth Limited explored an area of 39 square kilometers (15 square miles) in the Gakara area for about four years. Conditions seemed ideal: Hundreds of thousands of tons of ores like bastnaesite and monazite were simply waiting to be extracted. The company was granted a mining license by Burundi's government in March 2015. Operations are expected to start by the end of this time- Rainbow Rare Earth intends to extract 5,000 tons of ore annually.

  • Oil price in 2015 not to exceed $60 per barrel – EBRD

    EUROPEAN UNION, 2015/03/30 In 2015, world oil prices will range within $50-$60 per barrel, a leading economist of the European Bank for Reconstruction and Improvment(EBRD), Dmitry Gvindadze said. “In my opinion, this year, oil prices will remain at the same level, i.e. within the range of $50-$60 per barrel,” Gvindadze told Trend. “But it is very difficult to talk about what will happen next year or in two or three years, as there are a lot of factors that affect the price of oil. I mean such fundamental reasons as the volumes of oil consumption, new technologies, which are used in oil production, shale gas, and so on.” Oil prices have started to drop since July 2014 at the same time as they fell from $105 to $100 and again to $80 per barrel. Next OPEC member states refused to reduce the quota for oil production in November, the decrease in oil prices accelerated. The average price for oil has varied within $50 per barrel since early 2015.

  • EU-to-Extend-Southern-Gas-Corridor-from-Azerbaijan

    EUROPEAN UNION, 2015/03/18 The European Commission is confident in the joint commitment to the successful implementation of the Southern Gas Corridor, which is designed to transport gas from the Caspian region to the EU markets, the Commission’s spokesperson told Trend. “The Commission is confident in the joint commitment to the successful implementation of the Southern Gas Corridor, as well in the context of the recent Southern Gas Corridor Advisory Council conference held in Baku last February,” the spokesperson said. With regard to the laying of the foundation for the TANAP’s (Trans Anatolian gas pipeline) construction in the Turkish province of Kars on March 17, the spokesperson said that the Commission Vice President Maroš Sefcovic’s visit to the groundbreaking ceremony of this pipeline underlines the importance of the Southern Gas Corridor to the EU.

  • Diamond: Belgium to train Ivorian experts on surveillance of diamond exports

    BELGIUM, 2014/12/18 Three Ivorian diamond experts will be trained by the Anvers World Diamond Center (AWDC) for the surveillance of diamond exports from Côte d'Ivoire in a bid to enable the country to export the precious metal legally on the international market, official sources said on Tuesday. Mrs Margeaux Donker, AWDC spokesperson, told the press that since 2003, the UN had placed Côte d'Ivoire on the black inventory of nations banned from exporting diamonds, because at that time, Ivorian rebel groups exported the precious stones to purchase armament, an illegal trade system called 'blood diamond'.
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