Opec stands firm against calls for more oil

Executives from the Eni-led AgipKCO consortium, which is developing the Kashagan field, met for talks with Kazakh officials today in a bid to push ahead with the project's new development plan, a source close to the talks said.

Russia said today it had lifted its opposition to a plan to double the capacity of the Caspian Pipeline Consortium (CPC) trunkline from its current level of 32 million tonnes (253 million barrels) to 67 million tonnes (530 million barrels).

Russia's new President Dmitry Medvedev, who was sworn in today, is stepping down as chairman of Gazprom with current chief executive Alexei Miller stepping in as acting chairman.

Russian producer Sibir Energy has delayed its plans to re-list from the Alternative Investment Market to the London Stock Exchange by at least six months.

Ukraine's environment ministry has cancelled Vanco Energy's licence for the Prykerchensky Block, in the Black Sea - awarded to the US explorer last October, according to a ministry order published today.

A consortium of Russian and Vietnamese state oil firms, ZarubezhNeft and PetroVietnam, has won a tender to develop four oil blocks in west Siberia.

Turkey will try to firm up plans to produce gas from Turkmen fields with a foreign partner during an energy ministry trip to the central Asian republic in June, a Turkish energy official said today.

The international oil and gas industry will need to satisfy the ever-increasing demand for hydrocarbons by having the right people in the right jobs, according to Abe Palaz, director of educational, research and development partnership for Halliburton.

Ukraine's state-run player Naftogaz is seeking a 15-year contract from Gazprom which would fix gas import price increases for the next five years, company boss Oleh Dubyna said today.

Embattled Russian oil producer Russneft may see its back tax claims doubling to more than 40 billion roubles ($1.69 billion) in a move that would further complicate its sale, an industry source claimed today.

Italy's Eni will offer Russian gas giant Gazprom upstream assets outside Italy worth $350 million as part of their asset swap deal, Eni boss Paolo Scaroni said today.

Russian medium-sized outfit Tatneft said today that its proved reserves of crude increased by 228 million barrels to 6.140 billion barrels last year.

Russia's Sakhalin 2 development should start exporting liquefied natural gas shortly after construction work finishes late this year, project partner Shell said today.

Russian explorer Gazprom will use the newbuild jack-up rig Offshore Vigilant to probe a potentially prolific offshore project in Venezuela’s shallow water sector, sources at the Offshore Technology Conference in Houston said.

Russia’s oil production fell for a fourth month in row in April, in line with pessimistic forecasts for the full year’s output, which it is expected to fall for the first time in a decade, while exports rose on the back of improved weather.

UK engineering giant Amec is reported to have won a five-year contract worth $500 million to provide engineering and construction management services on BP’s platform in the Caspian Sea off Azerbaijan.

A Russian-built Mi-8 helicopter crashed into the Tavrida jack-up rig this morning, killing all 20 people on board.

UK-based power conversion player Converteam is set to provide power optimisation solutions for two semi-submersible drilling rigs that will be put to use at the Shtokman field, off Russia.

Russian pipeline monopoly Transneft will recommend paying total dividends of 1.15 billion roubles ($48.4 million) on last year’s profits, 40% more than the previous year, a Russian newspaper said today.

UK-listed Dragon Oil has completed initial testing at the Dzheitune (Lam) 22/126 well in Turkmenistan and restored production flow from the Dzheitune (Lam) 28/120 well.

Greece has formally signed up to Russian gas giant Gazprom's €10 billion ($15.58 billion) South Stream gas pipeline.

Gazprom chief executive Alexei Miller could offer outgoing Italian Premier Romano Prodi a top post with the company South Stream joint venture with Italian energy group Eni, Russian media reported.

Ukraine has paid off its debts to Russia for its gas imports, Prime Minister Yulia Tymoshenko said today at a meeting with her Russian counterpart Viktor Zubkov.

Japan's state-run Japan Oil, Gas & Metals National Corporation (Jogmec) said today it had won a mining licence for the Severo-Mogdinsky Block in Russia and was ready to start a geological survey of the area.