For all the sanctions Western leaders can throw at Russia, the biggest threat to President Vladimir Putin's ability to back separatists in east Ukraine is something beyond his or their control: the price of oil.
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, yesterday disclosed that Nigeria was working to accumulate 40 billion barrels of crude oil reserves and produce four million barrels per day.
The body responsible for independent analysis of the UK’s public finances yesterday dramatically reduced its forecasts for North Sea oil revenue over the next two-and-a-half decades.
The world’s unused spare oil production capacity would struggle to cover another big outage, industry officials and analysts say, increasing the chance governments may tap strategic reserves should Iraq’s southern exports be disrupted.
The International Energy Agency (IEA) can unseal its oil reserves if new possible sanctions against Russia push the oil price up, Director of Energy Markets and Security Keisuke Sadamori told the PRIME economic news agency in an interview on Wednesday during the World Pe
Operating through its subsidiary TriOil Resources Ltd. (“TriOil”), PKN ORLEN has completed its acquisition of Canadian-based oil and gas producer, Birchill Exploration LP at total price of CAD 255.6 million, which is around PLN 707.5 million.
Russia's known oil reserves are enough to provide a yearly extraction of 600 million tons of oil for the next 30 years, Natural Resources Minister Sergei Donskoi told lawmakers on May 28, RIA Novosti has reported. "The Russian Federation has a substantial potential to e
China is stockpiling oil for its strategic petroleum reserve at a record pace, intervening on a scale large enough to send a powerful pulse through the world crude market.
Over the next several years, Gazprom’s Arctic shelf reserves may more than double, the head of Gazprom’s department for offshore deposits, Vadim Petrenko, told the conference “The Russian Fuel and Energy Complex in the 21st Century” on Tuesday, April 22. It is expected that hydrocarbon reserves will grow by 130% after large-scale geological research which will be conducted mainly at new blocks.
The Caspian region will become a reliable source of gas supplies to Europe amid the growth of consumption volumes and the need of diversifying the sources of energy supply, Azerbaijani Energy Minister Natig Aliyev said at the Caspian Energy first international forum on A