Oil and Gas Industry Latest News

26.03.2012 No Tax Breaks Yet For Shtokman

Gazprom has given insufficient information on the Shtokman project for the Ministry of Finances to make any decision on tax breaks for the Arctic gas field, Russian Finance Ministry says.

29.02.2012 Nord Stream Wins Inaugural ‘Pipeline Project of the Year’ Award

Nord Stream AG won the inaugural "Pipeline Project of the Year" award at the 2012 European Gas Conference.

15.02.2012 PGNiG SA Signs An Agreement For EUR 500 Million Loan From PGNiG Finance AB

Under an agreement executed on February 14th 2012, Polskie Górnictwo Naftowe i Gazownictwo SA will borrow the funds raised by PGNiG Finance AB, its subsidiary, from the Eurobond issue.

15.12.2011 Lukoil Oversesas to transfer 10% in the Karachaganak to KazMunaiGas.

LukOil Overseas has agreed to transfer 10% of its interest in the Karachaganak oil and gas condensate field to Kazakhstan's state-owned KazMunaiGas.

LukOil is part of a consortium which has sold the interest for $3bn.

30.11.2011 Brent crude stays above $ 110 a barrel

 Brent crude edged down on Wednesday as the lack of a concrete solution to the euro zone debt crisis weighed on sentiment, but prices hovered above $110 per barrel with escalating tensions in Iran keeping losses in check.

29.11.2011 Rosneft will pay $ 2,2 billion to develop Venezuela's Carabobo

Russia's state-controlled oil giant Rosneft (ROSN.MM) will pay $1.2 billion up front and also give a $1 billion loan to Venezuela's state company PDVSA for access to the Carabobo 2 block, a minister said on Monday.

28.10.2011 Nord Stream AG Signs Phase I Repricing Arrangements with Banks

Nord Stream can today confirm it has agreed repricing arrangements with its relationship banks for the 3.9 billion euro Phase I project finance facilities.

14.09.2011 EU to Ban New Investments in Syrian Oil Sector

The European Council has agreed to ban any investment into Syria's oil sector, Itar-TASS has reported, citing a high-ranking EU official.

18.08.2011 Ukraine Interested in Renewing Turkmenistan Gas Deliveries

Ukraine is interested in renewing deliveries of gas from Turkmenistan, Ukrainian Prime Minister Nikolay Azarov said during a meeting with Turkmenistan Deputy Prime Minister and Foreign Minister Rashid Meredov.

17.08.2011 Iran Renews Crude Exports to India

Iran will soon begin exporting previous volumes of crude to India, the director of the international affairs department at Iran's National Oil Company, Moshen Gamsari, said.