Oil and Gas Industry Latest News

21.11.2012 BP Faces Rise in Azeri Oil Spending Without Extended License

The BP Plc-led group developing Azerbaijan’s biggest oilfield will probably have to increase investments to stem an output decline even without winning a license extension, according to its state partner.

21.11.2012 PetroVietnam in talks with Gazprom, Zarubezhneft to boost oil, gas cooperation

PetroVietnam, said in a statement that it is in talks to set up more oil and gas joint ventures with Gazprom and Zarubezhneft as well as to boost existing joint investment projects.

21.11.2012 Russia energy ministry mulls Novatek LNG export request

Russia's energy ministry is considering a request from Novatek  to grant an exception to Gazprom's  monopoly on LNG exports, Russian newswires quoted the energy minister saying it. The request is under consideration, but there's no final decision.

20.11.2012 Cyberhawk, Stork Technical Services win prestigious Oil & Gas UK Award for innovation

Remote aerial inspection company Cyberhawk Innovations and Stork Technical Services have won the Business Efficiency category in the Oil and Gas UK Awards 2012 for a money-saving and time-saving assessment of offshore asset condition.  The inspection is the first offshor

20.11.2012 Belarus ready to deliver petroleum products processed from Russian oil to Russia

Belarus is ready to deliver to Russia oil, processed from Russian oil, but expects to receive from such supplies economic gain.

20.11.2012 SPD and Yugra Government Set Partnership Priorities for 2013

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.

20.11.2012 Iraq, Venezuela emerging top crude oil suppliers for India

While Iraq, Venezuela and Kuwait are gaining ground in India’s crude oil energy basket, Iran is consistently losing its position.

20.11.2012 Rosneft, Federal Tax Agency signed Pricing Agreement for taxation of oil sales at the Russian market

On November 20, 2012 Rosneft and Federal Tax Agency signed the Pricing Agreement for the purpose of taxation of oil sales transactions at the Russian market. Six Company subsidiaries also acted as the Parties to the Agreement.

19.11.2012 Rosneft announces strategic advisory group

Rosneft today announced the creation of a strategic advisory group that will consolidate the financial assets of Rosneft and launch a full service financial institution.

19.11.2012 Gazprom announces new long-term contract signed for Russian gas supplies to Bulgaria

Today in Sofia in the presence of Bulgarian Prime Minister Boyko Borisov a new long-term contract for Russian natural gas supplies to Bulgaria was signed by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom Export and Di