Armenia Oil and Gas Tenders and Bids

Get access to latest Armenia oil and gas tenders and bids. Find business opportunities and government contracts for Armenia oil gas tenders, global oil tenders, global gas tenders, Armenia drilling tenders, Armenia fuel tenders, lubricant tenders, natural gas tenders, Armenia petrol tenders, Armenia diesel tenders, Armenia lpg tenders, oilfield tenders, refinery tenders, onshore tenders, offshore tenders. Find Armenia oil and gas tenders, bids, procurement, RFPs, RFQs, ICBs. The Armenian economy contracted sharply in 2020, by 5.7%. In contrast it grew by 7.6 per cent in 2019, the largest recorded growth since 2007, while between 2012 and 2018 GDP grew 40.7%, and key banking indicators like assets and credit exposures almost doubled. Until independence, Armenia's economy was based largely on industry—chemicals, electronic products, machinery, processed food, synthetic rubber and textiles; it was highly dependent on outside resources. Armenian mines produce copper, zinc, gold and lead. The vast majority of energy is produced with imported fuel from Russia, including gas and nuclear fuel for Armenia's Metsamor nuclear power plant. The main domestic energy source is hydroelectric. Small amounts of coal, gas and petroleum have not yet been developed. Armenia's severe trade imbalance has been offset somewhat by international aid, remittances from Armenians working abroad, and foreign direct investment. Economic ties with Russia remain close, especially in the energy sector. Petroleum, also known as crude oil and oil, is a naturally occurring, yellowish-black liquid found in geological formations. It is commonly refined into various fuels and chemicals. Components of petroleum are separated by means of distillation. Petroleum mainly consists of hydrocarbons as well as traces of other organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both prolonged heat and pressure. Fuel oil (also known as heavy oil, marine fuel, bunker, furnace oil, or gasoil) is a fraction obtained from the distillation of petroleum (crude oil). It includes distillates (the lighter fractions) and residues (the heavier fractions). Oil has many uses; it heats homes and businesses and fuels trucks, ships, and some cars. A small amount of electricity is produced by diesel, but it is more polluting and more expensive than natural gas. It is often used as a backup fuel for peaking power plants in case the supply of natural gas is interrupted or as the main fuel for small electrical generators.