Oil and Gas Industry Latest News

03.11.2012 Rosneft set to boost its NOC stake to 60%

Surgutneftegaz plans to quit the National Oil Consortium (NOC) and sell its 20 percent stake to state-owned Rosneft. According to Russia’s business daily Kommersant, the deal has already been approved by the Federal Antimonopoly Service (FAS).

01.11.2012 Rosneft signs $80billion 25-year gas deal with Inter RAO

Russian state oil company Rosneft has signed an $80 billion 25-year contract with Inter RAO to supply the state-owned electricity company with gas from 2016, a source close to Rosneft said.

31.10.2012 Virgin and RUSNANO Announce Formation of Emerging Markets Fund

Virgin Group, Virgin Green Fund and RUSNANO Capital today announced the formation of VGF Emerging Market Growth I L.P. with commitments of over $200 million.

30.08.2012 Kurdistan warns Baghdad it will halt oil exports again

Iraq's Kurdistan regional government threatened to stop its share of national oil exports again at the start of September, claiming Baghdad has continued to hold off on payments to oil companies, as the two sides continue a long-running dispute.

24.08.2012 Shell says it is looking for oil, not natural gas, in Nova Scotia offshore

Shell Canada (TSX:SHC) says it would reconsider its future plans to develop Nova Scotia's offshore if its $970-million deepwater exploration venture turned up natural gas instead of oil.

13.08.2012 Russian refiners' mounting influence over oil market

The increasingly sophisticated Russian refining industry is emerging as a key oil price driver, aided by tight European refined product stocks and the growing dominance of Russian Urals crude in European markets.

23.07.2012 EU to finance construction of LNG terminal only with involvement of all Baltic States

Inna Steinbuka, head of the European Commission's office in Latvia, said the European Union will not co-finance a the construction of a LNG terminal if an agreement is not reached for involving all Baltic states in the project.

23.07.2012 Kuwait loans $60m to aid Egypt's gas network

In an effort to bring some relief to Egypt's overstretched treasury, the Kuwait Fund for Arab Economic Development has offered it a loan to improve its natural gas infrastructure.

02.04.2012 Pakistan Eyes Russia For Controversial Gas Project

Pakistan confirmed that it is holding talks with Russia to finance a multi-billion dollar gas pipeline project after China backed out from the project over fears it could be hit by US sanctions.