Manas Petroleum Corp. (OTC Bulletin Board: MNAP) Somon Oil, a 90% owned subsidiary of Manas' 100% owned subsidiary DWM Petroleum AG, has been awarded an exploration license by the Tajikistan government.

Norwegian oil and gas producer Statoil ASA is looking for more business alliances with state-owned oil companies, business internet newservice DN.no reported.

Iraq will need $75 billion to develop its oil industry, three times more than was originally thought, a government expert said Thursday.

Senate Republicans on Thursday blocked a $32 billion package of tax breaks for renewable energy that would have been financed mostly by new taxes on major oil companies, The Associated Press reported.

The price of OPEC basket of eleven crudes stood at 68.23 dollars a barrel on Tuesday, June 19, compared with 67.90 dollars the previous day, according to OPEC Secretariat calculations.

The Senate Finance Committee approved $28 billion in tax breaks on Tuesday to underwrite renewable fuels and "clean coal" technology, all at the expense of the oil industry, The New York Times reported.

Nigeria's powerful labor unions launched a general strike Wednesday to protest government price hikes, leaving many schools and banks shuttered and normally bustling streets quieter in Africa's oil giant.

China's oil producing companies are currently competing for a leading position in the development of bio-fuels, which are considered the most viable alternative to fossil fuels, according to industry insiders who attended an industry forum over the weekend, state media reported on June 18.

China's oil producing companies are currently competing for a leading position in the development of bio-fuels, which are considered the most viable alternative to fossil fuels, according to industry insiders who attended an industry forum over the weekend, state media reported on June 18.

China's net imports of crude oil rose 11.5 percent from a year earlier to 65.83 million tons in the first five months of the year, driven by the country's robust economic growth.

Russia's president Vladimir Putin signed a federal law Thursday ratifying a deal to build a oil pipeline across the Balkan states to Europe.

On Wednesday, June 13, the Colombian National Hydrocarbons Agency said it signed 11 new oil and gas exploration and production contracts so far this year for a total of more than $36 million in investments.