US Fines ExxonMobil Over Russia Sanctions Violations
The U.S. Treasury Department on July 20 said it was fining global oil company ExxonMobil $2 million for violating sanctions on Russia in May 2014.
Russia To Continue Working With OPEC On Oil Market Rebalancing, Source Says
Russia is ready to continue working with OPEC, a source said, adding that Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya.
Gazprom Neft, Repsol Team Up To Develop Hydrocarbon Resources
The two companies recently signed a memorandum of understanding confirming their interest in further developing Evrotek-Yugra, a joint enterprise between Gazprom Neft and Repsol, according to a news release.
Rosneft Targets Bigger Gas Output, Lower Costs
By applying new technologies, Rosneft aims to increase oil output by a total of 500 million tonnes in the next 20 years, CEO Igor Sechin wrote in the Izvestia daily newspaper.
Russia's Gazprom Says Proposed US Sanctions Aim To Boost US LNG Exports
New sanctions on Russian energy projects proposed by the U.S. Senate are aimed at boosting LNG exports from the U.S. to Europe, an official from Gazprom was quoted as saying.
Saudi Energy Minister: OPEC/Non-OPEC Committed To Cutting Inventories
OPEC and non-OPEC countries are committed to bringing global oil inventories down to the industry's five-year average, Saudi Energy Minister Khalid al-Falih said May 31.
Saudi Arabia, Russia Push To Extend Oil Output Cuts
Saudi Arabia and Russia, the world's two top oil producers, agreed May 15 on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices.
Caspian Oil Pipeline Eyes Massive Expansion
New oilfields lead to larger capacity of Caspian pipeline.
US Will Not Issue Drilling Waivers To Russia Sanctions
The U.S. and EU imposed economic sanctions on Russia over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.
Novatek Plans To Boost Gas Resources To Steady Output, Market Share
Novatek is the main shareholder in Yamal LNG, which is due to start producing LNG this year, with a stake of 50.1%.