Russian gas exports to Europe fell 12 percent in the first half of 2007 after an unusually warm last winter, Gazprom said.

A former unit of Russian oil company Rosneft yesterday paid $305m for assets owned by bankrupt Russian oil giant Yukos in a sale the latter said was tantamount to buying the "emperor's new clothes".

Dana Gas, the UAE's first private sector regional natural gas company, has achieved operating profits for the first half year, with total revenues for the six months ended June 30, 2007 rising to Dh443 million from 171 days of gas production operations, resulting in gross operating cash profit of Dh226 million.

China National Offshore Oil Corporation has signed two production sharing contracts with U.S.Newfield Exploration Company for blocks numbered 22/15 and 16/05, both in the South China Sea.

Russian gas monopoly Gazprom's Board of Directors has approved the company’s restated investment program, which will see total investments of 779 billion rubles in 2007, up 47% on the sum approved in December 2006, according to Russian daily RIA Novosti.

World oil prices eased on Monday (August 13)on concerns about U.S demand in the face of sub-prime mortgage risks.

Oil giant Chevron Corp. is expanding operations at one of its power plants on Java island to bring electricity to an additional 700,000 homes, the company said in its press-release.

Conference Energy presents First Ukranian Oil Trading&Transportation Conference, which will take place 27-28 September 2007 at the International Exhibition Centre in Kiev.

Chavez: Be ready to the $100 crude price

Chevron Corporation (NYSE: CVX) announced today (August 9) that its subsidiary Cabinda Gulf Oil Company Limited (CABGOC) and partners made a significant oil discovery in Block 14, offshore Angola.

Oil giant Chevron has won a bid last weekend to jointly develop natural gas in southwest China's Sichuan Province with the natiobal giant CNPC.

Japanese firm Inpex Holdings Inc. said Thursday (August 9)it is studying a plan to set up a major liquefied natural gas import terminal in Niigata Prefecture.