Oilgame

Developing economies are trying to satiate their growing demand by digging new reserves and exploring alternatives, but all seems in vain as energy watchdog, International Energy Agency stated that within five year, world will face acute shortage of..

Russia's state-controlled gas monopoly has called off planned gas cuts to its former Soviet neighbor Belarus after Minsk paid a substantial part of a $456 million gas debt before a Friday morning deadline, the national gas monopoly said. However,...

Kazakh national oil company KazMunaiGaz bought 75% stake in Romanian oil firm Rompetrol for $2.7bn but requires final approval from the European Union. The deal will double KazMunaiGaz's refining capacity and give it a total of 630 gasoline...

Venezuelan president Hugo Chavez urges Russia to increase its investment in his country as Venezuelan government has pushed western investors out from the state and those who are providing their services in Venezuela they are under immense pressure to...

The Russian oil giant Gazprom, discloses that company is near to increase its presence in Britain. Gazprom didn’t reveal its partner’s name, but it is highly expecting that oil giant is in talk with British oil giant Centrica from long.

After falling to clear Russian regulators worries, western oil giant Shell has lost its license to drill oil in Russian oil field. US and its supportive European nation impeached Russia to use its oil reserve as an economic and political pressure...

BP PLC, the BP Russian unit can lose its license to drill in Eastern Siberia's largest known natural-gas field, if oil western giant will fail to get over their contractual target. TNK-BP will be inspecting on May 23 on its production at the...

Increasing oil prices are forcing consumers to lose the weight of their pockets. Two consumer groups unveiled that in 2006 U.S. families paid $1,000 more on average for gasoline than in 2001, as higher oil prices ate up a hefty portion of the income..

Russia, Turkmenistan and Kazakhstan have agreed to build a new natural gas pipeline around the Caspian Sea, giving Russia significant control over Central Asia's massive natural gas reserves. The agreement ensures Russia's supremacy over...

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...