Participants of the Rosneft-led Sakhalin-3 project started to drill a first prospecting well on August 5, Rosneft’s subsidiary CJSC Sakhalin Projects said in statement. The project participants are Rosneft (49.8 percent), Sinopec (25.1 percent)...
The Moscow Court of Arbitration drove the final nail into the YUKOS coffin last week, declaring Russia’s once-leading oil company bankrupt. The ruling followed the conclusion by official receivers that the company built up...
Russian oil company Rosneft has repaid a credit ahead of schedule, received from India’s ONGC to finance expenditure on a production sharing agreement for the Sakhalin-1 project, a source in the company told Interfax....
The Slovakian government, which owns 51 percent of the pipeline company Transpetrol, has confirmed its plans to buy the remaining 49 percent from a Dutch subsidiary of YUKOS - YUKOS Finance B.V., and has...
ConocoPhillips, the owner of an 18 percent stake in LUKoil at the end of the second quarter, estimates LUKoil net profit at 2.2 billion Euro in the second quarter, the US oil company said...
Russia’s largest independent gas producer Novatek is planning to use about 18 percent of net profit to pay out interim dividends for the first half of 2006, Leonid Mikhelson, the company’s CEO, told Interfax...
French oil giant Total announced last week that its wholly-owned Nigerian operating subsidiary, Elf Petroleum Nigeria Limited (EPNL), had signed a farm-in agreement with Amni International Petroleum Development Company Limited, for the Oil Mining...
The volume of Azeri oil pumped through the Baku-Novorossiisk pipeline in 2006 will amount to about four million tonnes, which is eight percent less than last year, a source in the State Oil Company...
With four of Sweden’s 10 nuclear reactors shut down over security reviews last Friday, anti-nuclear parties moved to cash in politically on the issue ahead of elections due September 17, Deutsche Presse-Agentur (dpa) reported....
Royal Dutch Shell hopes to complete a deal by the end of the year, which will result in Gazprom receiving 25 percent, plus one share in the Sakhalin-2 project, and the Anglo-Dutch company receiving...
Austria’s OMV Aktiengesellschaft, Central Europe’s leading oil and gas group, has announced a discovery and successful testing of oil and gas in its Nawara 1 exploration well in the Jenein Sud Exploration Permit in...
China National Petroleum Corporation (CNPC) has bought 66.2252 million shares of the Russian oil company Rosneft for 500 million Euro, a source with the CNPC management told Interfax.
“Earlier reports disseminated by a number...
PKN Orlen general director Igor Chalupec said last week that the European Commission would make a decision on the Polish oil company acquiring a stake in Mazeikiu Nafta no later than the first quarter...
Gazprom has made an offer to YUKOS to buy the oil company’s 20 percent stake in Gazprom Neft for 1.3 billion Euro-1.9 billion Euro, Interfax has learned from several independent sources, which are...
Crude oil prices were steady last Friday as traders were closely monitoring the fighting in the Middle East and following comments by the US Federal Reserve chief that surging energy prices are crimping economic...
Following the grand opening of the Baku-Tbilisi-Ceyhan oil pipeline, its masterminds, elated by success, announced the launching of new projects. And the new projects extend beyond the trans-Caspian gas pipeline that is going to...
The US law firm Covington & Burling LLP has sent a demand letter to the Russian Federation on behalf of a Spanish client seeking to recover the value of its investment in Yukos from...
The Gazprom executive board has approved setting up a Russian-Kazakh joint venture at the Karachganak gas condensate field, Gazprom said in a press release.
The board said it was feasible to set up on equal...
Last week, the small Turkish port town of Ceyhan on the Mediterranean Sea hosted a solemn ceremony of a landmark project - the launching of the USD four billion Baku - Tbilisi - Ceyhan...
LUKoil is planning to sell base oil to foreign oil and gas companies, although not through spot contracts, but long-term ones, Maxim Donde, general director of LLK International, a LUKoil subsidiary, told reporters last...
TNK-BP is selling 96.9 percent of its Udmurtneft production unit to China’s Sinopec for approximately USD 3.5 billion, the Russian-British oil major said in a memorandum for its Eurobond issue. The parties have signed...
Rosneft’s Initial Price Offer could value the oil company at around USD 70 billion, investment bankers told Interfax. The price range for the global IPO is USD 5.85-7.85 per common share and GDR. A...
Iran will start the initial phase of its planned Iranian oil bourse at the end of September, the news agency ISNA reported last Wednesday. An unnamed oil ministry official told ISNA that his ministry...
Kazakhstan’s national oil and gas company KazMunaiGaz has closed the purchase of 33 percent of PetroKazakhstan from China National petroleum Corporation (CNPC). The company also signed papers on the establishment of a joint venture...
Azeri state oil company SOCAR plans to attract a credit to finance its share in the project to develop the Shah Deniz field, SOCAR vice president for Investment and Marketing Eduard Nasirov said on...
Russian gas giant Gazprom’s net profits in 2005 surged 49 percent to over 311 billion rubles (USD 11.6 billion), the company reported last Friday. Despite the strong rise, the figure was short of the...
The headquarters of North European Gas Pipeline Company SA (NEGP Company) - the operator for the construction of the marine section of the North European Gas Pipeline (NEGP) - started to operate in Zug,...
Gazprom and Ukraine’s Naftogaz have agreed that it will be sufficient for Ukraine to pump 16 billion cubic metres of gas into underground storage to get through the autumn and winter period and that...
Malaysia’s Petronas plans to invest USD 12 million in oil and gas exploration in Uzbekistan this year, a source at Uzbek national oil and gas company Uzbekneftegaz told Interfax last Friday. The source said...
Azeri state oil company, Canada’s Target Petroleum and Scotland’s Firstdrill Ltd. have signed an agreement to set up the joint drilling venture Azeri Drilling Company, Firstdrill said in a press release. The joint venture...
Russian gas giant Gazprom hopes by the end of the year to increase its stake in the joint venture with Wintershall - Wingas - to 50 percent minus one share from 35 percent, Gazprom...
The International Fund for Animal Welfare (IFAW) has said that Sakhalin Energy, the operator of the Sakhalin-2 project, is violating its commitment to protect the Okhotsk-Korean grey whale population during construction of an oil...
Transparency in gas supplies from Central Asia and Russia to Europe through Ukraine will improve the effectiveness of gas cooperation in the region, US Ambassador to Ukraine William Taylor said. Transparency will help make...
Oil exports from Azerbaijan in January-June 2006 amounted to 8.979 million tonnes, up 61.7 percent year-on-year, a source in Azeri state oil company SOCAR said. The Azeri-Chirag-Gunashli operator Azerbaijan International Operating Company (AIOC) exported...
Turkmen President Saparmurad Niyazov has suggested that Britain’s Burren Energy discuss possible partnership in the gas sector, the presidential press service said. This offer was made during a Tuesday meeting between Niyazov and Burren...
With the high monetary and environmental cost of fossil fuels, Germans are investing in the sun for alternative energy, thanks to generous government subsidies that pay people for solar power they feed into the...
An unusual international alliance of private companies and governments is slated to choose a US site for the world’s cleanest coal-fuelled power plant, called FutureGen, by summer 2007. The alliance includes the governments of...
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