The Russian Duma has passed a draft bill in the second reading on stimulating offshore hydrocarbon production with tax and customs duty privileges.
Norway's Parliament is expected to vote this year on opening two major frontier Arctic areas to oil and gas exploration, Natural Gas Europe reports the country's energy minister as saying.
Bloomberg reports that global oil prices rose yesterday from the lowest level in almost a week after European finance ministers reached an agreement on aid for Greece, easing concern that Europe’s debt crisis will derail the economic recovery and curb fuel demand.
On November 16, 2012 Salym Petroleum Development N.V. (SPD) and the Government of the Khanty-Mansi Autonomous Okrug – Yugra (KHMAO-Yugra) signed the Cooperation Agreement for 2013.
The Russian government has agreed to apply special tax regimes to several fields operated by Lukoil in the Caspian allowing the private company to operate at a profit.
Gazprom and Japan's Agency for Natural Resources and Energy have signed a program on scientific and technical cooperation for 2012-2014.
The acquisition by Rosneft of a 100% stake in TNK-BP will accelerate privatization of the Russian state-owned company. This opinion was voiced in an interview for the "Financial Times" newspaper by Russia’s First Deputy Prime Minister Igor Shuvalov.
An investment decision will be taken in the near future and the project launched before 2017, President Putin told Murmansk Governor Marina Kovtun.
Russia wants to avoid a "gas war" with the European Union over its probe of OAO Gazprom and would welcome a negotiated settlement between the energy giant and European authorities, its ambassador to Brussels said Thursday.