A U.S. federal court ordered the seizure of shares in Venezuelan-owned oil company Citgo, which will be sold to pay a $1.2 billion settlement to a Canadian mining company unless Caracas puts up a bond, AFP reports.
U.S. District Court Judge Leonard Stark said in an order issued Thursday that...
Kazakhstan, a former Soviet state in Central Asia, is increasingly challenging Russia’s oil dominance in the region, Vestnik Kavkaza writes in an analysis of Central Asian oil sector developments.
Kazakhstan will limit its imports of Russian gasoline products starting on Saturday, citing a surplus in its refineries as a reason...
Companies from Russia’s oil industry have asked for compensation from the government for expenses and losses caused by a recent tax maneuver in the sector, Izvestya reports.
The issue of compensation payments after the completion of the tax overhaul in the industry may be discussed at a meeting of...
The Russian economy is not facing default in the near future, because global oil prices have created an additional "safety margin" for the Kremlin, Ukrainian economist Boris Kushniruk said, according to Obozrevatel.
However, if oil prices fall to $35 per barrel, (now at $70), this could "bury" the Russian economy, the analyst...
Moldova’s Minister of economy and infrastructure Chiril Gaburici has said that his government has no plans to sign a new contract on gas supply to the country with Gazprom, Interfax reports.
“The current contract was repeatedly extended. It is valid until the end of 2019. Therefore, we will not...
Russia’s state-owned energy giant Gazprom is opening an electronic trading platform to sell natural gas to European countries, Vedomosti reports.
According to Elena Burmistrova, Director General of Gazprom Export, this tool will help improve the company’s cooperation with its customers in Europe making the gas sales mechanism even more effective.
The...
Russian President Vladimir Putin met with German Chancellor Angela Merkel Saturday in Germany to discuss various heated topics such as the controversial gas pipeline, Nord Stream 2, and the situation in Syria, The Independent reports.
The meeting, held in the German government's villa outside Berlin at Merkel's invitation, was the...
A proposed new U.S. bill laying sanctions on Russia, the harshest so far, would only have a limited impact on its oil industry, because the country has drastically reduced its reliance on Western funding and foreign partnerships and is cutting its dependence on imported technology, Reuters wrote on Friday.
After...
Russian energy company En+ Group, owned by billionaire Oleg Deripaska and hit by U.S. sanctions against Russia in April, said on Thursday its board is considering the company’s re-domiciling from Britain’s Jersey to one of Russia’s new domestic offshore zones, TASS news agency reports.
The London-listed En+ Group, which manages...
Nord Stream 2 AG, the company operating the Nord Stream 2 gas pipeline project, obtained a permit for laying the subsea segment of the gas line in the territorial sea of the Russian Federation, the company said on Tuesday.
According to RIA, the permit was issued by the Russian environmental...
