Russia’s OAO Gazprom and OAO Lukoil say they discovered a sizable oil and gas field in the Caspian Sea — but just how big, they are not sure.
Dow Jones Newswires quotes an official as saying it could hold up to 730 million barrels of oil.
Gazprom and Lukoil signed a deal in 2003 to develop a [...]

A U.S. subsidiary of Russia’s state-controlled natural gas company signed a letter of intent to obtain all the capacity of a liquefied natural gas (LNG) terminal planned for Quebec.
The export subsidiary of OAO Gazprom reached a deal with its partners in the Rabaska terminal project to become an equity partner in the venture.
The partners are [...]

European oil groups Royal Dutch Shell and Repsol YPF are under pressure from the United States to end talks with Iran about a multi-billion dollar natural gas deal, the Expansion newspaper reported Saturday.
It said that Russia’s Gazprom, Indian Oil Corporation and Chinese groups could be waiting to move in if British-Dutch group Shell and Spain’s [...]

The price of Russian gas for European customers could rise as high as 400 dollars (257 euros) per 1,000 cubic metres by the end of 2008, the head of state-run Gazprom was quoted as saying on Friday.
Russian news agencies quoted Gazprom chief executive Alexei Miller as saying the falling dollar and rising demand for gas [...]

Anglo-Dutch oil giant Shell is to cut its reserve figures for 2007, taking about 1.3 billion barrels off its books or the equivalent of nearly one year’s production, The Observer said Sunday.
The weekly newspaper said the company would announce the writedown of at least 200 million barrels off the estimates for its operations in [...]

The production of oil, gas and coal increased in the first quarter in Russia, whilst electricity production fell back, the ministry for energy and natural resources said.
The production of oil and distilled gas increased by 4.2 pct to 121.14 mln tonnes in the first quarter.
The main producers are Lukoil, Rosneft, TNK-BP, Surgutneftegas and Gazprom Neft, [...]

Russian federal anti-monopoly service head Igor Artemyev expressed sharp disapproval Wednesday of a proposed merger between state gas monopoly Gazprom and coal giant Siberian Coal Energy Company (SUEC), Russian news agencies reported.
“I am personally against it. I have a negative attitude toward this deal,” RIA Novosti quoted Artemyev as saying about the proposed merger of [...]

Mikhail Prokhorov returned to his office at Norilsk Nickel headquarters on Monday, his spokesman proclaiming that his four-day detention by the French police on suspicion of pimping was a “regrettable misunderstanding”.
While that may very well be the case for the French, what Russian rivals of Prokhorov will now understand about the scandal could be regrettable [...]

State-controlled energy giants OAO Gazprom and OAO Rosneft will divide up Russia’s oil and gas-rich seabed evenly, the financial newspaper Vedomosti reported Monday, a step that would leave foreign oil companies with a minority role at most.
While the move has not been officially backed by President Vladimir Putin, the paper said, it would be in [...]

Russia’s technical standards agency said on Monday it had approved a drilling programme by BP’s Russian venture TNK-BP at the Kovykta gas field, but the decision is unlikely to ease state pressure on the project.
RosTekhNadzor, a part of the Ministry of Natural Resources, said it had approved the plan of Rusia Petroleum, the TNK-BP subsidiary [...]