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Oil

Russia ordered to pay $2.5 bn to Yukos shareholders
Russia must pay $2.51 bn (€1.87 bn) in compensation to the former shareholders of Yukos, once Russia's largest private oil company, for unfair tax proceedings. The European Court of Human Rights has also ruled Russia must pay €300,000 in legal costs.

31.07.2014 12:17

Lukoil offloads 240 Ukraine gas stations to Austrian buyer
Russia’s second-largest oil producer Lukoil will sell 100 percent of its Lukoil-Ukraine CFI operations to Austria’s AMIC Energy Management GmbH (AMIC). The sale follows a blockade and threats by Ukrainian nationalists.

31.07.2014 06:26

‘Fighting in Ukraine is all about oil and gas’
For America, democracy is a state that sells its mineral rights and agricultural land to US investors, otherwise, it imposes sanctions, and that's what the US wants from Ukraine, professor of economics at the University of Missouri Michael Hudson told RT.

30.07.2014 12:55

One million barrels of Iraqi oil ‘stranded’ off coast of Texas
A ship containing roughly one million barrels of crude oil from Iraq’s Kurdistan region is in a state of limbo off the coast of the United States, as its entry is prohibited due to a lawsuit filed by Iraq’s central government.

30.07.2014 03:44

Ukrainian nationalist group blocks Russian gas stations, demands free gas
Activists of the nationalist Right Sector party have blocked several Lukoil gasoline stations in Ivano-Frankovsk, western Ukraine, demanding free gas from the Russian oil company, OSCE reported. Lukoil confirmed the news to RT.

29.07.2014 09:49

​UN threatens sanctions on anyone trading oil with ISIS terrorists
The UN Security Council has voiced “grave concern” over reports of oil trading with ISIS militant groups in Iraq and Syria. ISIS has seized control of oilfields in the area and is reportedly using the revenues to finance its nascent Islamic State.

29.07.2014 04:44

Hague court had no authority in Yukos case, ruling politicized – Moscow
The Hague’s arbitration court was not legally empowered to view the case of Yukos Oil Company v. Russia, and the court’s “one-sided” ruling disregards previous Strasbourg court decisions on the issue, the Russian Finance Ministry said in a statement.

28.07.2014 17:01

‘Mega-arbitration’: Court orders Russia to pay $50bn in Yukos case
The International Arbitration Court in the Netherlands has ended a decade long case brought by shareholders in the defunct Yukos oil company, and ordered Russia to pay about $50 billion in damages.

28.07.2014 08:23

EU economic sanctions on Russia won’t affect gas sector – Van Rompuy
EU sanctions on Russia will cut Moscow's access to “sensitive” technologies in the oil sector, according to European Council head Herman Van Rompuy. The gas sector – which Europe depends on – will be unaffected, including Gazprom's South Stream pipeline.

25.07.2014 19:41

Ukraine votes to keep Western companies out of gas industry
Ukraine’s parliament has rejected allowing EU and US companies to buy up to 49 percent of oil and gas company Naftogaz, and also said they were against liquidating the national energy monopoly.

25.07.2014 09:29

ISIS ‘making millions’ out of stolen oil revenues in Iraq
ISIS militants are using the revenue from seized oil fields to finance their newly-formed Islamic state in northern Iraq. Sources within the regional government say the extremist militants are “making millions” in illegal trade.

23.07.2014 07:33

$200 per barrel oil if Russia sanctions escalate- Oxford Economics
If the standoff with Russia and the West reaches a point where the EU has to completely cut trade with Russia, oil prices could soar above $200 per barrel, sparking a global economic crisis, says Adam Slater, senior economist at Oxford Economics.

23.07.2014 08:03

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