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Azerbaijan Close to Adopting New Umid-Babek Licence

Azerbaijan’s parliament has been advised to approve a new licence for the Umid-Babek offshore gas-condensate fields. The parliamentary committee on natural resources, energy and ecology advised parliament to approve the new Risk Service Contract for exploration and development of the blocks, after discussing the existing and new contracts for the fields on April 21.


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Nord Stream 2 Finance Deal Agreed

The five companies investing as Gazprom's partners in the construction of Nord Stream 2 gas pipeline have agreed a finance structure, they said April 24 in separate statements.


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Reliance Starts CBM Production in India

Reliance Industries has commenced March 24 coalbed methane (CBM) production from its SP(West)–CBM–2001/1 block in the Sohagpur field in India's north-central state of Madhya Pradesh.


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EU OKs Funds For Cyprus, Other Studies

The European Commission said April 24 that its proposal to invest €22.1mn ($24mn) in seven studies to promote energy infrastructure had been approved by EU member states.


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Qatar's Nakilat Sees 1Q Profit Down 20%

Qatari LNG shipowner Nakilat April 23 said its 1Q net profit fell by 20%. Its net profit was Qatari riyal 191mn ($52.45mn) compared with Qatari riyal 240mn in 1Q2016; the lower profit is attributed to the effect of reducing the estimated scrap value of its older carriers, in addition to reduced operations of a few joint ventures.


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CWC Singapore

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