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Hit by US sanctions, Rosneft pleads for debt relief

US sanctions against Moscow appeared to have claimed their first major victim when the head of Russia's largest oil company asked for help.

Hit by US sanctions, Rosneft pleads for debt relief
Mexican president signs landmark energy reform

Mexican President Enrique Pena Nieto signed a package of landmark energy reform bills.

Mexican president signs landmark energy reform
Tengrinews file photo
Kazakhstan lifts ban from Russian fuel imports

Kazakhstan has lifted restrictions from import of oil products from Russia.

Kazakhstan lifts ban from Russian fuel imports
©Reuters/Alexander Demianchuk
Russia's Lukoil sells filling stations in Ukraine

Russia's Lukoil said it had reached preliminary agreement to sell its network of filling stations in Ukraine, days after radical nationalists there tried to extort fuel from the company.

Russia's Lukoil sells filling stations in Ukraine
Oil production at Kashagan to be resumed in 2016: Kazakhstan’s Oil Minister

According to him, at Kashagan both the oil and gas pipes have to be fully changed. 200 km of pipes have to be purchased to replace the damaged pipes.

Oil production at Kashagan to be resumed in 2016: Kazakhstan’s Oil Minister
ISIL. ©Reuters
UN takes aim at Islamist oil grab in Syria, Iraq

The UN Security Council backed a Russian initiative to bar trade in oil with Islamists in Iraq and Syria.

UN takes aim at Islamist oil grab in Syria, Iraq
Photo courtesy of psychlopedia.wikispaces.com
Inuit village sues to block oil surveys in Canada's Arctic

A small Inuit village in the Canadian Arctic sued to block offshore exploration for oil, involving noisy air-cannon surveys it says threaten marine wildlife.

Inuit village sues to block oil surveys in Canada's Arctic
©Reuters/Sergei Karpukhin
Russia ordered to pay Yukos shareholders $50 billion

The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $50 billion in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd said in London

Russia ordered to pay Yukos shareholders $50 billion
Photo courtesy of cisnews.org
Kazakhstan and Kyrgyzstan exchange blows as latter prepares to join Customs Union

Kyrgyzstan has decreased water supplies to Kazakhstan twofold, following a three month hold up by Kazakhstan’s customs authorities of the Russian petroleum products destined for Kyrgyzstan.

Kazakhstan and Kyrgyzstan exchange blows as latter prepares to join Customs Union
Three injured in oil refinery fire in western Kazakhstan

A fire occurred at an oil refinery in Aktobe Oblast on July 16.

Three injured in oil refinery fire in western Kazakhstan
© Yaroslav Radlovsky
Petrol production in Kazakhstan grows 17% from January to June

Earlier the country’s Oil Minister Uzakbai Karabalin assured journalists the country wasn’t going to face any petrol shortages.

Petrol production in Kazakhstan grows 17% from January to June
©Reuters/Amit Dave
Government slaps $579 million penalty on India's Reliance

The Indian government has announced a new penalty of $579 million on the country's largest private company, Reliance Industries, for failing to meet commitments to supply gas for the fourth year in a row.

Government slaps $579 million penalty on India's Reliance
Photo courtesy of newskaz.ru.
Kazakhstan to expand cooperation with OPEC

Kazakhstan, a Central Asian oil producer, will expand its cooperation with the Organization of Petroleum Exporting Countries (OPEC).

Kazakhstan to expand cooperation with OPEC
Kashagan oil field. ©Reuters
Kashagan to be developed by consolidated company

Kashagan will be developed by a consolidated joint venture company.

Kashagan to be developed by consolidated company
Photo courtesy of abali.ru
Gold shines as investors seek shelter; oil drops again

Gold prices zoomed this week to a four-month peak as investors sought shelter from weak eurozone data and fears of contagion from a bank's problems in Portugal, dealers said.

Gold shines as investors seek shelter; oil drops again
Iraq Kurds claim oilfields as bombings kill 28

Iraq's Kurdish region claimed disputed northern oilfields on Friday in another blow to efforts to forge a united front against a jihadist-led onslaught, as twin bombings killed 28 people.

Iraq Kurds claim oilfields as bombings kill 28
Photo courtesy of kz.china-embassy.org
Kazakhstan Parliament ratifies agreement on Russian oil transportation to China via Kazakhstan

Kazakhstan’s Senators have ratified the agreement between Kazakhstan and Russia on cooperation in transportation of Russian oil to China via Kazakhstan.

Kazakhstan Parliament ratifies agreement on Russian oil transportation to China via Kazakhstan
Photo courtesy of newskaz.ru
Oil recovery efficiently to spike 12% in Kazakhstan's west

Oil recovery efficiency will be increased from the current 31% to 43% at oilfields in Mangistau Oblast through use of new technologies.

Oil recovery efficiently to spike 12% in Kazakhstan's west
Oil extends losses on return of Libyan supplies

Oil extended losses in Asia Thursday on prospects that Libya will begin exporting more crude into a global market flush with supplies, while easing concerns about the Iraqi crisis also weighed on prices.

Oil extends losses on return of Libyan supplies
Kashagan is one of the largest oil reserves in the world ©REUTERS
Kashagan pipes replacement to increase costs eightfold: expert

700 percent is the estimated increase in the original cost of the Kashagan oil field project after the complete replacement of its pipelines.

Kashagan pipes replacement to increase costs eightfold: expert