Industry Developments

Russian gas giant Gazprom has said it may pull out of a deal to buy TNK-BP's 63% stake in the Kovykta field in eastern Siberia, according to a report in the Financial Times (FT).... 2008-10-17

Anglo-Russian joint venture (JV) TNK-BP has begun commercial oil production at the Verkhnechonsk field in East Siberia.

UK-based international advisory firm Gaffney Cline & Associates (GCA) has presented the first reserves estimates of the Osman-South Yoloton gas field in Turkmenistan.

India's Oil and Natural Gas Corporation (ONGC) has confirmed that its international arm ONGC Videsh Ltd (OVL) is interested in acquiring a stake in Kazakhstan's MangistauMunaiGaz... 2008-10-09

Swedish independent Lundin Petroleum has announced that the Morskaya structure in the Lagansky Block, situated in the northern part of the Caspian Sea, may hold reserves of up to... 2008-10-09

Abu-Dhabi government-owned investment agency Mubadala Development Company in partnership with US major ConocoPhillips has signed an agreement with Kazakhstan's state-owned... 2008-10-07

Hungary's MOL has acquired a further 21.7% stake in Croatia's INA, raising its holding in the company to 46.7%.

Russia's state-owned Gazprom and Germany's E.ON have reached an agreement for E.ON Ruhrgas to acquire a 25% stake minus one share in the Yuzhno-Russkoye gas field in western... 2008-10-03

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... 2008-10-02

Vietnamese state-run oil company PetroVietnam is seeking government approval to invest US$614mn in an oil exploration and production (E&P) joint venture (JV) with Russian oil... 2008-09-30