Russia will address the UN on the expansion of its Arctic shelf next spring. If successful the move would see the country adding an area of 1.2 million sq. kilometers in the Arctic Ocean, holding 5 billion tons of standard fuel, to its territory.
Gazprom Neft, the oil subsidiary of Russian state gas company Gazprom, has filed a claim with the EU Court of Justice, the EU's highest court, to review the economic sanctions against it introduced in September.
The 2010 BP oil spill that resulted in 172 million gallons of oil in the Gulf of Mexico has, four years later, left an oily “bathtub ring” about the size of Rhode Island on the sea floor surrounding the site of the Macondo well, according to new research.
Over the past month the Islamic State's siege of Kobani (aka Ayn al-Arab) has been dominating the world news coverage, revealing Turkey's fraught relationship with its own Kurdish minority and with Kurds and Kurdish organizations across the wider region.
Oil sales, ransoms and extortions help ISIS “generate tens of millions of dollars” monthly, the US Treasury estimates, promising to undermine the group’s finances and to impose sanctions on anyone attempting to do business with the extremists.
Falling oil prices embarrass and make life difficult for countries that depend on oil exports, including Russia and Venezuela, and the US would enjoy making life difficult for them, economist Richard Wolff told RT.
The 'fair' and most comfortable oil price for world economies would range between $90 and $110 per barrel, with any fluctuations from that involving certain risks for the industry, Russia's Energy Minister Aleksandr Novak said.
The Islamic State was making up to $2 million per day, or $800 million a year, by selling oil at roughly half the official price on the black market before the US-led airstrikes, a new study by a US-based consultant group revealed.
Sanctions against Russia are counterproductive and stability should be restored to provide more investment to the country, Total CEO Christophe de Margerie said during his last speech in Moscow before he died in a plane crash.