Russian President Vladimir Putin has pledged not to abandon a deal with OPEC to keep a lid on oil supplies, even as crude prices rise, OPEC Secretary General Mohammed Barkindo said on Monday.
Oil prices have rebounded nearly 60 percent since June, with Brent crude rising to three-year highs above...
Russian energy giant Gazprom Neft said it made a new discovery in a territory north of Kazakhstan, UPI reported.
The new field, located in the Orenburg Oblast, a Russian federal district north of Kazakhstan with a reserve estimate of more than 80 million barrels of oil reserves. Oil was previously discovered...
A Vietnamese company is no longer seeking U.S. financial support to build a coal-fired power plant in Vietnam, bringing the planned project to an abrupt end, The New York Times reports. The joint project was supposed to be a closely watched test of whether Washington would back international projects...
A subsidiary of Orgkhim Biochemical Holding, a Russian company from the petroleum industry, is building a $50 million facility in Malaysia to manufacture petroleum-based extender oils used in tires, synthetic rubbers, and rubber compounds.
The Malaysian Investment Development Authority (MIDA) said the facility will supply markets in the Asia Pacific...
If Europe tries to rely on U.S. gas imports to cover rising demand instead of increasing purchases from Russia, the continent will soon face shortages, Kremlin energy giant Gazprom told Reuters.
The Trump administration has said it intends to level the playing field in energy markets by offering U.S. gas...
Russia's largest oil and gas pipe maker TMK has abandoned plans for a $615m initial public offering of its U.S. subsidiary, leading to a sharp fall in stock value, Reuters reported.
The company, controlled by billionaire Dmitry Pumpyansky, said late on Thursday that it would postpone the IPO of IPSCO,...
After sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on, now surging U.S. exports – largely banned by Washington until just two years ago — challenge the last region OPEC dominates: Asia, Reuters reports.
U.S. oil shipments to China have surged,...
China plans to launch trading crude oil futures in yuan, establishing a 'petro-yuan' that will undermine the petro-dollar, putting Russia “between two fires”, Nezavisimaya Gazeta reports.
According to analysts, the move would allow Beijing to take pricing under its control. Against the backdrop of record oil imports, which reached almost 9.6...
Despite specific exceptions to sanctions enshrined in UN resolutions, exports of Russian coal via the North Korean port of Rajin have been discontinued, Russia’s Ambassador to North Korea Alexander Matsegora told reporters in New York.
Several UN resolutions prohibit countries from importing North Korean coal. However, the latest such document...
