The head of the Federal Antimonopoly Service (FAS) of the Russian Federation Igor Artemyev said on Wednesday that in order to improve the situation at the oil products market it is necessary to split vertically integrated oil companies (VIOC) into retail, wholesale and production ones. “I am in favor of splitting VIOCs into retail, wholesale […]

In 2012 Azerbaijan is going to raise the oil production volume. This was declared by the president of the oil company of Azerbaijan (SOCAR) Rovnag Abdulaev in Baku at the international conference. “The conciliation process for contract on the deep gas development at the Azeri-Chirag-Guneshli oil and gas fields. According to the forecasts the gas […]

The Gazprom Neft board of directors approved of signing with OAO Gazprom the contract of purchase of ZAO Gazprom Neft Orenburg shares, which owns the license for the Eastern part of the Orenburgskoe oil condensate field (the Orenburg region), the Gazprom Neft statement reports. Within the framework of the deal Gazprom Neft can purchase 61.8% […]

The government of Tajikistan thinks that they have no alternative to the fuel deliveries form the Russian Federation so far. Zeyniddin Mahmudov, the head of the cooperation with CIS-countries department at the Ministry of Trade and Economic Development of Tajikistan said that ‘Right now Tajikistan cannot import fuel and lubricants in necessary volumes from any […]

TNK-BP introduced ‘zero tolerance’ principle in relation to any kind of violation of business ethics, the statement of the company’s press-service says. The members of the ethics committee of TNK-BP summed up the preliminary results of loyalty and fair practices program aimed at the prevention of ethical rules and norms violation by the employees of […]

The largest Russian private oil company OAO LUKOIL is going to develop a crude production stabilization program till the end of this year, the Vice-President and co-owner of the company Leonid Fedun said to the journalists on Wednesday. According to him the company’s crude production is to be falling till 2012 and from 2013 it […]

According to the statement made by the CEO of OOO TNK-Uvat (the subdivision of TNK-BP) Yury Masalkin, the company is planning to invest no less than one hundred million American dollars annually up to 2015 into the geological prospecting and exploitation of the territory surrounding the village of Uvat. The exploration works have been singled […]

The Irish company PetroNeft Resources which has oil equity in Tomsk region, discovered oil on the Sibkrayevskaya structure within Tungolskoye Oil Field in Tomsk region, the company reports. The area of the field is over 50 square kilometers, the oil accumulation lies in the depth of 2.35 thousand meters. PetroNeft does not specify the size […]

Japan and the Russian leading oil-producing company Rosneft intensified the negotiations on the co-development of the Sea of Okhotsk Shelf, the statement on the website of Magadan Region administration says. After the destructive earthquake in Japan in March this year the prime-minister of Russia Vladimir Putin suggested that the Japanese companies cope with the energy […]