Russian Economy Minister is under arrest for Bashneft-Rosneft transaction
Alexey Ulyukayev is reportedly under the investigation for having received $2 million that led to a positive conclusion, allowing Rosneft oil company to buy …
Business & Management
Gazprom has been allowed to use more than original 50% of Opal pipeline
The EU lifted a cap on Gazprom’s use of the Opal Pipeline in Germany, which takes gas from its Nord Stream Baltic Sea pipeline to end-users in Germany …
Italian-Russian Saras will clear its debt towards Iran within 2017
Italian oil refiner Saras has paid 160 million euros ($177 million) of the debt it owes Iran for crude oil bought before sanctions were imposed and its chief …
China goverment is reportedly building a $100bln-revenue chemical giant
Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertiliser and oil giant …
Petronas is reportedly trying to divest in a huge LNG project
Malaysian state oil firm Petroliam Nasional Bhd is considering selling its majority stake in a $27 billion Canadian liquefied natural gas (LNG) plant, three …
Iran oil production reached 4Mbpd, still able to increase
The Islamic Republic of Iran, via its Petroleum Ministry, said that Iran is able to maintain its 14% quota in the OPEC organization, adding that the oil …
Aker Solutions, Det norske and Subsea 7 made an alliance in Norway
The alliance combines Det norske’s exploration and production know-how with Aker Solutions’ expertise in front end engineering, brownfield …
Mark Blinn retires as Flowserve’s CEO and President
Flowserve Corporation today announced that Mark Blinn plans to retire as President, Chief Executive Officer and a member of the Board of Directors. To ensure …
Libya shipped the first oil tanker since 2014
A tanker sailed from Libya with a crude cargo bound for Italy after a halt in fighting between rival armed forces enabled the OPEC country to resume exports …
Repsol is dismissing part of its LNG interests following financial difficulties
Spain’s Repsol and Criteria Caixa have agreed a 3.8 billion euro ($4.27 billion) sale of a combined 20 percent stake in Gas Natural to U.S. fund Global …