Industry Developments

French oil major Total has suspended talks with Kazakh state oil company KazMunaiGas over plans to develop the Kurmangazy offshore oilfield in the Caspian Sea. Total had been negotiating... 2006-09-14

Lithuanian refinery Mazeikiu Nafta has received crude oil supplies from Venezuela for the first time. Mazeikiu, the only refinery in the Baltic and a major outlet of Russian crude... 2006-09-14

Russia plans a huge increase in oil and gas exports to Asia to expand its political and economic role as a global energy supplier, according to the Russian president. Speaking at... 2006-09-12

Russian oil giant Lukoil has said it plans to invest US$100bn over the next decade to boost output and increase refining capacity. Lukoil said the investment, which may include foreign... 2006-09-07

Russian gas giant Gazprom has signed an agreement to pay much more for its gas imports from Turkmenistan. Gazprom will pay US$100 per 1,000 cubic metres of gas until the end of 2008,... 2006-09-05

While Russia will continue to dominate oil supply in the region, backed by huge and under-exploited reserves, the Caspian states have an important role to play, with Azerbaijan and... 2006-07-28

Massive volumes of natural gas are wasted annually in Russia's gas sector, according to Paris-based oil watchdog International Energy Agency (IEA), and the lack of investment in developing... 2006-07-26

The out-going Czech Prime Minister Jiri Paroubek has called for discussions on the reduction of excise duties within the European Union. Paroubek highlighted the rising cost of energy... 2006-07-26

A spokesman for Austrian oil and gas group OMV has reiterated the company's determination to build a liquefied natural gas (LNG) terminal on the island of Krk, offshore Croatia. Earlier... 2006-07-25

Often overshadowed by its troublesome sister development Sakhalin II, Sakhalin I has progressed well since its start-up last year. The project accounted for a third of Russian oil... 2006-07-24