- A new oil field with roughly 300 million tons of oil and 90 billion cubic meters of gas has been discovered in the Astrakhan region of Russia.
- The discovery of large hydrocarbon deposits in the Arctic has sparked international competition over resources in frozen waters. Regional powers are quickly filing claims for the sea shelf, with Russia preparing to bring in the biggest bid to the UN.
- Speaking at BP’s annual shareholder meeting, CEO Bob Dudley said the company can “act as a bridge” between Russia and Europe, adding that it was “business as usual” between the oil giant and Russia.
- Researchers working for the United States Navy say they are around a decade away from mastering a procedure that will make high-powered fuel for the military’s fleet of ships out of run-of-the-mill seawater.
- US may stop importing oil by 2037 as abundant domestic crude supplies, including North Dakota’s Bakken field and Texas’s Eagle Ford formation, may push production to the level of consumption, according to the US government.
- Europe has no plans to move away from Russian gas, with major energy projects like South Stream expected to remain in place, according to Reiner Hartmann, Chairman of the Association of European Businesses.
- The oil arm of Gazprom says 95 percent of foreign partners are ready to do business in the euro. The company’s CEO said it could divert exports to Asian markets should the West intensify sanctions.
- Rebel forces in eastern Libya have agreed with the government to soon end its months-long blockade of oil export ports, according to a senior leader of the group.
- Russian gas exporter Gazprom will build a pipeline to supply gas to energy-strapped Crimea, according to the Russian Ministry of Energy.
- The coroner has pronounced an ‘open verdict’ on the death of fallen tycoon Boris Berezovsky, after a two day hearing during which “contradictory” evidence was heard.
- The bodyguard of Russian tycoon-in-exile Boris Berezovsky told a coroner’s inquest of the harrowing months and hours that preceded his suicide a year ago.
- The 2010 BP Deepwater Horizon oil spill have likely inflicted serious heart defects and possibly premature death in tuna and other large marine fish, according to a study initiated by the National Oceanic and Atmospheric Administration (NOAA).