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Environmental damange caused by fuel train explosion and spill near Aktau estimated at $779 thousand Ecologists have estimated the damage caused by the fire and spill at the railway crossing near Aktau city in western Kazakhstan.

27 December 2013

US judge rejects BP bid for extra proof in oil spill claims A US federal judge has rejected a bid from BP to require companies prove their losses are directly linked to the 2010 massive Gulf of Mexico oil spill before getting a payout.

26 December 2013

Kashagan to produce 15 million tons of oil in 2022 In its Development Strategy, KazMunaiGas has set an optimistic target to produce 15 million tons of oil from the Kashagan field in 2022.

26 December 2013

Results of Kashagan pipeline tests to be unveiled in January 2014 Experts are expected to release their statements on the condition of malfunctioning pipelines at the Kashagan field in mid-January 2014.

26 December 2013

KazMunaiGas to complete feasibility study to construct 4th oil refinery Given the overhaul of the current 3 oil refineries, a new oil refinery may be needed only after 2025: Samruk-Kazyna Sovereign Wealth Fund Managing Director.

26 December 2013

Oil prices up on escalating South Sudan violence Crude edged higher in Asian trade Thursday on supply concerns following escalating violence in oil-producer South Sudan, but gains were capped as dealers sat on the sidelines awaiting fresh leads after the festive season.

26 December 2013

KazMunaiGas to invest $4.5 billion into geological exploration in 2014-2019 By 2022 the Company’s proven recoverable reserves of oil and condensed gas should make up 1.413 billion tons as compared to 789.6 million tons as of the end of 2013.

26 December 2013

Arctic protester vows to fight on after Russian case closed A British Greenpeace protester Tuesday said he was "jubilant" after Russia closed the criminal case against him for staging a protest on an oil rig, and vowed to keep fighting for environmental issues.

25 December 2013

Crude prices down in quiet Asian trade Oil prices edged lower in quiet Christmas Eve trade in Asia Tuesday as dealers engaged in profit-taking, with a lack of leads to spur fresh market movement, analysts said.

25 December 2013

Russia to start crude supplies to China across Kazakhstan from January 1, 2014 The agreement comes to force January 1, 2014. The agreement shall be valid for 10 years: Russia’s Energy Minister Aleksandr Novak.

25 December 2013

Morgan Stanley sells oil trading assets to Rosneft Investment bank Morgan Stanley Friday announced plans to sell part of its commodity business to Russian oil giant Rosneft for an undisclosed sum.

21 December 2013

Putin pardons Khodorkovsky after 10 years in jail President Vladimir Putin on Friday signed a decree granting a pardon to Russia's former richest man and bitter Kremlin critic Mikhail Khodorkovsky, allowing his release after more than a decade in prison.

20 December 2013

Canadian court greenlights Ecuadoran lawsuit against Chevron Ecuadoran villagers can seek to enforce in Canada a multi-billion-dollar Ecuadoran judgment against Chevron for polluting the Amazonian rainforest, a Canadian court ruled Tuesday.

18 December 2013

Mexico's Congress approves historic oil reform Mexico's Congress approved historic energy reform Thursday aimed at luring foreign oil firms back into the country and ending the state's 75-year-old monopoly following a heated debate.

13 December 2013

Oil explorer eyes Spain's pristine Canary Islands Luring millions of tourists a year with its crystal-clear waters, warm winters and precious wildlife, Spain's Canary Islands may hold another treasure -- oil -- that is attracting a less welcome visitor.

11 December 2013

NCOC announces cause of gas leaks at Kashagan oil field Sulphide stress corrosion is the direct cause of the gas leak at the Kashagan field in Kazakhstan.

10 December 2013

No restart of oil production at Kashagan this year Oil production at the Kashagan field in Kazakhstan is going to be restarted only in 2014, after full inspection of all the pipelines.

06 December 2013

CNPC AktobeMunaiGas to pay $50 million for environmental damage CNPC AktobeMunaiGas will have to pay 7.7 billion tenge ($50 million) for environmental violations in Kazakhstan.

04 December 2013

OPEC to sit tight over oil output on supply strains OPEC is set to stick to its oil output limit at a meeting here on Wednesday, even as Iraq and Iran eye higher crude exports amid slashed Libyan production.

04 December 2013

China pipeline blast toll rises to 62 The final death toll from an oil pipeline explosion in the Chinese coastal city of Qingdao is 62.

03 December 2013

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