Hungarian oil group MOL is reasonably confident that its crude supplies from Russia will not be disrupted by the Ukraine conflict because its Russian partners are reputable companies, the head of its downstream business said.

Oil is in the midst of one of its steepest selloffs since the financial crisis, with prices falling 16 percent since mid-June. This has the Saudis contemplating even deeper cuts in oil production to keep prices from declining any further.

The head of OAO Rosneft (ROSN) said maintaining dividends is a “sacred obligation” for Russia’s largest oil company as sanctions limit its financial flexibility.

LNG investments could soon increase as the fuel could soon benefit from a rising demand for gas from the transport sector.

There was a time when headlines about jets bombing Middle Eastern refineries would have sent oil prices soaring.

West Texas Intermediate crude fell from the highest price in seven days as concern eased over the risk of a supply disruption in the Middle East. Brent declined in London.

At The Riga Conference 2014, the annual high-level meeting in its 9th year of local, EU and global security policy-makers and experts, energy security issues were featured prominently during debates.

По итогам полугодия «Газпром нефть» сохранила лидерство в отрасли по темпам прироста добычи и увеличению объемов переработки нефти, а также по таким показателям эффективности, как возврат на вложенный капитал и удельный операционный денежный поток на баррель нефтяного эквивалента.

Moldova faces a tough road in its bid to reduce dependence on Russian natural gas.

Encana of Canada has become the latest company working in North America’s shale reserves to make a leap to reduce its reliance on gas, and increase its oil production, by agreeing a $7.1bn deal to buy US-listed Athlon Energy.