Oil and Gas Industry Latest news

15.11.2013 Lukoil to Invest Over RUR 4bn in Tatarstan in 2014

Lukoil is going to invest over RUR 4bn in Tatarstan projects, Prime has reported, citing Lukoil President Vagit Alekperov.

15.11.2013 Protests at Libya Oil Ports Cost over USD 6bn

Protests at oil ports have cost Libya more than $6 billion and started hitting power supplies in the North African country, where political chaos is also affecting funding for wheat imports, Reuters reported on November 14, citing officials.

15.11.2013 Iranian Oil Sales Hit 21-Month Low

Iran, the fifth-largest crude exporter as recently as 2011, sold the least in 21 months in October as China, India, South Korea and Japan curbed purchases amid Western sanctions targeting the nation’s nuclear program, Bloomberg reported on November 14.

15.11.2013 Berkshire Buys Stake in Exxon Mobil

Berkshire Hathaway Inc. (BRK/A) reported a stake in Exxon Mobil Corp. (XOM) valued at about $3.7 billion as Warren Buffett’s company disclosed its largest new holding since adding International Business Machines Corp. in 2011, Bloomberg reported on November 15.

15.11.2013 Gazprom Says Ukraine Fails to Pay Debt

Gazprom does not see any “positive dynamics” in Ukraine paying off its $1.3 billion gas debt to Russia, Gazprom deputy head Andrei Kruglov said on November 14, the Prime news agency reported.

15.11.2013 Tethys EBITDA Rises in January-September

Tethys Petroleum Limited (TSX:TPL)(LSE:TPL) on November 14 announced its third quarter 2013 financial results and gave an update on its operations in Kazakhstan.

15.11.2013 Azerbaijan’s SOCAR, BP Sign Agreements on Training, Education

SOCAR and BP signed an agreement on cooperation in a number of spheres on November 14, the Azebaijani news agency Trend has reported.

15.11.2013 Russia’s Gazprom Cuts Prices for Hungarian Firms

Russian gas giant Gazprom has cut prices for Hungarian traders Panrusgas and Centrex, Prime cited the company as saying in a statement on November 14.

15.11.2013 Belarus to Increase Fuel Exports to USD 9bn in 2014

Belarus plans to increase the export of oil products to $9 billion in 2014, Deputy Economy Minister Alexander Yaroshenko said at the joint meeting of the permanent commissions on economic policy and on budget and finance of the House of Representatives, the government ne

15.11.2013 Belarus to Import 22.5 Billion Cubic Meters of Gas in 2014

In 2014 Belarus intends to import 22.5 billion m3 of natural gas at about $171 per 1,000 m3, the government news agency Belta reported on November 14.