Oil and Gas Industry Latest news

24.04.2014 Russia seen as biggest source of oil output by Total

France's Total expects the biggest share of its oil and gas output to come from Russia by 2020 and plans to stay there for the long haul despite recent tensions with the West over Ukraine, a top executive said, Reuters reported on April 23.

24.04.2014 Italian Enel submits applications for oil and gas exploration in Greece

Italian energy group Enel has submitted three applications to search for oil in three different areas of Greece, Independent Balkan News Agency reported on April 23.

24.04.2014 Mexico to invite bids for five natural gas pipelines

Mexico's federal power company CFE will launch calls for bids to build five natural gas pipelines requiring a total US$2.25bn investment, the firm's CEO said at a forum in Mexico City, Business News Americas reported on April 23.

24.04.2014 Nigeria awards oil contracts to local firms

Nigeria has awarded most of its long-term oil contracts worth an estimated $40 billion a year to local companies, according to a confidential list seen by Reuters, meaning global traders need to partner with them to access crude from Africa's top producer, Reuters said o

24.04.2014 Chinese crude oil stocks down in March

China's commercial crude oil inventories at the end of March fell 2.89 percent from a month earlier on lower crude imports, the official Xinhua news agency said on April 23, Reuters has reported.

24.04.2014 Ukraine in talks with Europe on new gas consortium

Ukraine has forwarded proposals to European gas companies to set up a natural gas transportation consortium to help modernize and maintain the Ukrainian gas system, Yuriy Prodan, the Minister of Energy and Coal Industry, said on April 23, ITAR-TASS has reported.

24.04.2014 China not ready to buy more Russian gas

Russia’s Gazprom is ready to supply more gas to China than the two sides are discussing but the buyer is not prepared to purchase extra volumes, Viktor Timoshilov, who is in charge of the company’s eastern projects, said on Wednesday, April 23, ITAR-TASS reported on Apri

24.04.2014 EU ban on Russian gas imports unlikely - Fitch

A lengthy ban on Russian gas imports to the European Union is unlikely, according to the Fitch Ratings' Report 'Living Without Russian Gas’, RIA Novosti reported on April 23.

24.04.2014 Round of gas talks with Slovakia cancelled

The four party talks with participation of energy ministers of Ukraine, Slovakia, Russia and European Energy Commissioner Guenther Oettinger, planned to be held in Bratislava on April 24, have been cancelled, Energy and Coal Industry Minister of Ukraine Yuriy Prodan has

24.04.2014 Ukraine stops paying for Russian gas, minister says

Given the uncertainty of the price of Russian gas, Ukraine has no opportunity to pay for it, Ukrainian Minister of Energy and Coal Industry Yuriy Prodan told reporters in Kyiv on April 23, Ukrinform has reported.