Oil and Gas Industry Latest News

29.07.2011 Zarubezhneft Mulling Potential IPO After 2013

Zarubezhneft could hold an IPO after 2013, if the Russian government does not change its plans on privatizing state companies, Zarubezhneft CEO Nikolay Brunich told journalists.

27.06.2011 Russia May Implement New Oil Duty Schedule in August

Russia could begin using a new system for calculating the export duty on crude and oil products and even the rates on light and dirty sorts beginning in August this year, Deputy Russian Finance Minister Sergey Shatalov told journalists during an economic forum in Paris.

25.06.2011 Russia: IEA Move on Supply "Understandable"

The International Energy Agency did not consult Russia before deciding to release oil stock, Russian Finance Minister Alexei Kudrin said on Friday. Kudrin added that despite this, the move was "understandable".

21.06.2011 Statoil Presents Long-Term Growth Outlook

Statoil (OSE: STL, NYSE: STO) presents its long term growth outlook. The company expects to raise production from around 1,9 million barrels in 2010 to above 2.5 million barrels of oil equivalents per day in 2020.

06.05.2011 Russia Allocates 10 Million Euros for Arctic Council

Russia is allocatig €10 million to the Arctic Council over the next two years.

04.04.2011 Ukraine To Sell 25% Stake in Naftogaz - Minister

The Ukrainian authorities have decided to sell up to 25 percent of shares in the national oil and gas company, Naftogaz Ukrayiny, RIA-Novosti reported, quoting Ukrainian Fuel and Energy Minister Yuriy Boyko.

15.03.2011 JSC KazMunaiGas EP Acquires 50% stake in Ural Group Limited

KazMunaiGas Exploration Production (“the Company” or “KMG EP“) has reached an agreement with Exploration Venture Limited (EVL) to acquire 50% of Ural Group Limited (UGL), which owns the exploration license for the block Fedorovskiy through 100% stake in LLP “Ural Oil and Ga

11.03.2011 Gazprom Neft completes seismic survey work on the Equatorial Guinea shelf

   Gazprom Neft has completed 3-D seismic survey work on the Equatorial Guinea shelf (block T) in the Niger Delta river basin.

02.03.2011 Turkmengas to Receive Chinese Loan

China signed an agreement with Turkmenistan on Tuesday to provide loans to the Central Asian nation's gas company.

15.02.2011 Petrobras Announces Drilling Rig Contracting Deal With EAS and Sete Brasil S.A.

Petrobras informs that it has approved the construction and chartering of the first package of seven drilling rigs to be built in Brazil, in line with the international market cost.