Oilgame

The federal property fund will auction Yukos oil assets in Eastern Siberia and the Krasnodar Territory in Russia's south, part of the liquidation of the bankrupt company. The sale of company's oil assets will produces approximately 233,000...

Venezuela, the world's largest known single petroleum deposit, took over its last privately run oil fields yesterday, along with electricity companies and the country's biggest telecommunications company, which could intensify a power struggle in...

Oil prices slashed again in Asian trading. Light, sweet crude for June delivery dropped 34 cents to $65.37 a barrel in midmorning Asian electronic trading on the New York Mercantile Exchange. U.S also noticed decline in the prices, which fell 75...

British Gas, the UK's largest energy company, has mounted immense pressure on its competitors to reduce prices after announced its second cutback in bills in six weeks. The Centrica-owned business has said that electricity prices would fall by 6...

In order to gain a presence in the financial markets Russia is looking to invest in international companies shares using its billions of petrodollars. The finance minister of Russia has carved out this plan in order to split its stabilization fund...

IHS, a consultancy firm, has undertaken a study and concluded that Iraq's oil reserves may be twice as vast as current estimates. The most comprehensive study, ever since the US-led invasion of 2003, estimates that Iraq could hold twice the oil as..

BP and Royal Dutch Shell have placed their bids for a sour gas project in the UAE that could cost $10 billion and will generate 1 billion cubic feet of gas per day. It is also learnt that France's Total and the US based Occidental Petroleum...

President Hugo Chavez has been vigorously boosting his ambitious plans to produce ethanol as the eco-fuel of choice in recent times. However, it suddenly emerged as a major point of disagreement with Brazilian leader Luiz Inacio Lula da Silva. The...

The Gas Exporting Countries Forum (GECF), at its first meeting in last two years, decided to set up a group of experts to study how to strengthen the group, which has so far exercised very little power. The move is widely perceived as a step...

The much debated 'gas OPEC' is not expected to be formed during the Qatar-host Gas Exporting Countries Forum (GECF) starting from Monday. However, discussions of such a cartel seem to be on top agenda of the meeting. The Doha meeting, the sixth...