In an effort to focus more on gas and value-added refined products, Austrian energy group OMV is ready to spend 10 billion euros and grow its business outside Europe, its CEO said on Tuesday.
OMV said it too will beef up its gas exploration, refining, and transport business, as other energy...
Saudi Arabian plans to float oil giant Saudi Aramco, but the company will delay the IPO on an international exchange such as London or New York until next year, sources close to the process said.
The kingdom is counting on being awarded emerging market status by index compiler MSCI in...
After an extensive $55 billion modernization of Russia’s refineries, the country plans to sharply increase fuel exports and carve out a larger share of the European market, companies’ plans and analysts’ reports show.
Following a fuel shortage crisis in 2011, Russia embarked on a modernization project for its biggest refineries....
The European Union’s High Representative for Foreign Affairs and Security Policy, Federica Mogherini, has called on Russia's gas giant Gazprom to respect its contractual obligations under gas contracts with Ukraine, Interfax reported.
"We discussed with the Prime Minister a recent decision by Gazprom to suspend already prepaid gas supplies...
Chinese company Huarong Asset Management emerged as a new co-owner of Russia’s top oil producer Rosneft, Vedomosti reported. Huarong is controlled by the state-owned China Life Insurance and China’s finance ministry.
The group enters the game despite Rosneft’s CEO Igor Sechin previously saying the company’s shareholder structure had already been...
Ukraine and Moldova have stepped up their criticism of the Nord Stream 2 gas pipeline project – a Russian venture intended to bring Russian gas directly to Germany.
Andriy Parubiy, the Ukrainian parliament speaker has said the real nature of the Nord Stream 2 pipeline project is far from being...
A sharp increase in U.S. oil production is raising questions about the share of OPEC and non-OPEC countries in the global oil market after they decreased their production, a new report by the International Energy Agency (IEA) has revealed.
The 24 OPEC and non-OPEC countries, headed by the biggest producers...
The idea of building a gas pipeline in Serbia has been revived by Russia, and the project would enable Gazprom to step up its gas supplies to Europe, bypassing Ukraine, Reuters reported.
The Serbian pipeline will be linked by two interconnectors to Bulgaria and Hungary and will ship Russian gas...
China’s State Committee for Development and Reforms says the country is seeking to increase gas purchases from Russia and a number of other countries. The Committee’s head He Lifeng said the reason was extremely low reserves, RT reported.
“As for gas supplies, we are going to build them with the...
The project to build Turkey’s first nuclear power plant is likely to face a delay to its 2023 target start-up date as Russian builder Rosatom struggles to find local partners, two people familiar with the matter told Reuters.
President Recep Tayip Erdogan intended the nuclear plant to be opened in...
