From Reuters Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008. Brent crude LCOc1 futures gained $1.15, or 2%, to settle at $58.53 a barrel. U.S. West Texas Intermediate (WTI) crude
By Tyler Losier, Energy Reporter, Oil & Gas 360 Security Service of Ukraine detains Russian oil tanker, releases crew after threats from Moscow A Russian oil tanker is being detained by Ukrainian authorities in the port of Izmail near the Black Sea in what appears to be an act of retaliation for a similar incident that occurred last November. According
From Reuters Russia plans to raise its annual production of seaborne liquefied natural gas (LNG) to as much as 120 million tonnes by 2035 and take market share from Australia and the United States by capitalizing on low costs, a deputy energy minister said. In December, Russia’s No.2 gas producer Novatek and its partners including France’s Total launched the Yamal
OMV Yuzhno Russkoye natural gas field acquisition OMV Exploration & Production GmbH has completed the acquisition of a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia from Uniper SE. The purchase price paid by OMV to Uniper amounts to €1.7 billion ($2 billion). The license will expire by the year-end 2043. Chairman of the OMV
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