In September the oil production capacity rose to make up 10.3 barrels a day – more than a fifth of the total volume of the produced oil falls to the share of the state concern Rosneft. It must be mentioned that in Saudi Arabia which takes the second place after Russia in ‘black gold’ production […]

The subsidiary of TNK_BP Buguruslanneft has won an auction bidding to buy a Novo-Zhedrinskiy hydrocarbon area in the Orenburg Region. This information was published by the Federal Agency on Subsoil Use. The right to use the subsoil resources of the area cost the company 138.45 million rubles, with the reserved price being 106.5 million rubles. […]

Integra Group has closed the deal on acquisition of SIAM Company. According to the press-service of the company the value of the transaction is 2.2 billion rubles (71 million dollars), it was financed by means of Integra Group capital base as well as by means of available borrowed funds.

The Moscow oil refinery raises the price of diesel fuel for the third time this September. Starting from September 30 it is to go up by 1000 rubles per a ton and will comprise 27500 rubles per ton. Altogether September saw the diesel price rise of 2000 rubles per ton.

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 […]

Kazakhstan considers the possibility of carrying out tolling operations with the People’s Republic of China, the annual volume of which may comprise up to 1.5 million tons of crude oil, the Oil and Gas Minister of the republic Sauat Mynbaev says. “Concerning the system solution as to reducing the level of our dependence on Russia […]

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% […]

LUKOIL is going to invest about 3 billion dollars into raising the production capacity of its subsidiary OOO LUKOIL-Nizhnegorodnefteorgsintez in the period of 2012-2022, the president of the largest Russian private oil company Vagit Alekperov told the journalists on Thursday. “LUKOIL’s investment for the coming 10 years will comprise a little bit more than three […]

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 […]