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Ramirez sees oil flowing despite worries

12 March 2010 18:57 GMT

Venezuelan Oil Minister Rafael Ramirez said today that the country would continue producing crude oil even if its ailing electricity system were to suffer a collapse.

Nord Stream team closes in on loan

The Nord Stream gas pipeline group and banks are in the process of signing documentation for a €3.9 billion ($5.3 billion) financing, according to reports.

IEA lifts global demand

The International Energy Agency (IEA) boosted its global oil demand further in its monthly outlook on expected demand growth in non- Organisation for Economic Co-operation & Development (OECD).

Nigeria approves $1bn disbursal

Nigeria's Acting President Goodluck Jonathan today approved the disbursal of a further $1 billion from the country's windfall oil savings, leaving about $4.1 billion in the account, government officials said.

Alberta moves to ease royalty take

The government of Alberta said today it will cut its royalty rates on conventional oil and natural gas production as it looks to boost investment in the its oil and gas reserves.

Chevron wins Ecuador arbitration request

US supermajor Chevron may pursue an international arbitration claim over environmental pollution allegations in Ecuador that could expose the company to $27 billion in liability, a US judge ruled today.

Gabon oil union threatens strike

Gabon's main oil union said it may begin a strike as early as Saturday due to a dispute with the government over whether energy should be on a list of sectors required to provide uninterrupted minimal service.

Russia eyes ONGC partnership

Russia is considering inviting India's state-run Oil and Natural Gas Corporation (ONGC) to develop oil and gas fields in Russia, the government said today, ahead of Prime Minister Vladimir Putin's visit to India.

Surgut rubbishes MOL sale talk

The head of Russia's fourth-largest oil producer, Surgutneftegas, Vladimir Bogdanov, said today his company has no plans to sell its stake in Hungary's MOL despite standoff between the two companies.

'Kovykta reclaim will be fair'

Russia's top energy official Deputy Prime Minister Igor Sechin said today that any decision to strip TNK-BP of its licence for the Kovykta gas field in Siberia should be "fair" and that costs should be compensated.

Rousseff leaves Petrobras to focus on campaign

Brazilian Presidential Chief of Staff Dilma Rousseff said yesterday she will leave her post as chairwoman at state-run energy giant Petrobras to focus on her presidential campaign.

CNPC refutes Kazakh corruption claims

Chinese state-run energy company CNPC said today it complied with applicable laws in its 2003 purchase of a stake in Kazakh oil company, AktobeMunaiGas, after Kazakh financial police said they were examining the deal.

Brazil oil bill clears hurdle

Brazil's lower house of Congress has approvedan amendment to a government oil reform bill that could deprive the biggest oil producing states of a large chunk of royalty revenues.

IEA looks into gas security

11 March 2010 02:22 GMT

Uganda to award oil deals by April

10 March 2010 14:30 GMT

Petrobras budgets 2010 spend

09 March 2010 14:00 GMT

Algeria plans new licensing round

08 March 2010 21:54 GMT

Iran pumps up exports by 35%

08 March 2010 13:06 GMT
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