Russian power holding Inter RAO has raised the forecast for earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2016 to 85 billion rubles from 79-80 billion rubles, Dmitry Palunin, a member of the management board, said. The forecast is under International Financial Reporting Standards (IFRS). In May, Inter RAO already raised its EBITDA outlook…
Russian shipyard Krasnye Barrikady has signed a $1 billion contract with Iranian company Tasdid to build offshore drilling rigs for work in the Persian Gulf. The Russian side undertook to finance 85% of the contract amount. The rigs designed to explore and develop oil and gas will be built within the next two years in…
Azerbaijan’s national air cargo carrier Silk Way Airlines received another new Boeing 747-8F aircraft. This is the 8th Boeing and 4th Boeing 747-8F aircraft, which will be operated by the airline. Delivery of the new aircraft will enable the airline to increase its route network even broader, including new destinations to the US. It is…
It is planned to produce first gas from the Absheron gas condensate field in 2019, First Vice-President of the Azerbaijani state oil company SOCAR Khoshbakht Yusifzade said. He said that the reserves of the Absheron gas condensate field were estimated at 350 billion cubic meters of gas and 45 million tons of condensate, according to…
Qualitative characteristics of Ukrainian grains supplied to foreign markets completely meet the international standards, the Head of the State Service on Food Safety and Consumers Protection Volodymyr Lapa said. According to him, the export trading continues developing, and Ukrainian grain products are in demand on the global market. Therefore, Ukrainian grains have the required qualitative…
Azerbaijan hired McKinsey & Company, a worldwide management consulting firm, to develop a road map for the country’s economy to 2025 and beyond. “We were expecting to enter the post-oil era in about 10-15 years, but we have practically found ourselves in that situation already today”, Natiq Amirov, Azerbaijani presidential aide on economic reforms, said.…
Malaysia’s oil and gas company Petronas will conduct exploration at the Goshadash structure in the Azerbaijani sector of the Caspian Sea, First Vice President of the Azerbaijan’s state oil company SOCAR Khoshbakht Yusifzade said. Yusifzade said that the exploration could be deepened in future, but currently general works, including seismic works, were underway. “If the…