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.

Russia's state oil giant Rosneft, offered to buy Yukos's assets in southern Russia for 4.9 billion rubles ($190 million) after regulators blocked the company of a May auction from acquiring them.

The world still has enough proven oil reserves to provide 40 years of consumption at current rates, in spite of a small fall last year, according to the BP Statistical Review of World Energy.

Norwegian state oil and gas company Statoil, in partnership with the Norwegian Ministry of Fisheries and Coastal Affairs, has supplied Russia with three oil spill response systems.

Indian oil and gas major ONGC has made five oil and gas finds in eastern offshore and North-East, where 3-4 trillion cubic feet of gas reserves have already been established.

British-Dutch oil major Shell plans to increase investments in Russia despite losing control of the giant Sakhalin-2 project earlier this year, the company's CEO said on June 8th.

China will process more acidic crude as the difficult-to-refine oil accounts for most of its new domestic and equity output, while its complex refineries allow it to import the cheaper oil, industry experts said on Thursday, June 7th.

Iran is in talks with Brazil's state oil company Petrobras to explore two oil blocks in the Caspian sea, an Iranian official was quoted as saying on Sunday, June 3.

Iran, India and Pakistan are making progress in talks on a planned $7 billion gas pipeline.

Royal Dutch Shell announced on June 6th that it had resumed production in some of the wells it operates in Nigeria.

Hong Kong stocks erased early gains on Tuesday, June 5th, as a further sell-off in mainland equities hit China plays, but oil producers marched higher amid advancing crude prices and recent broker upgrades.

GE Oil & Gas has been awarded a contract to supply two gas turbine-driven Turbocompressor trains to the Abu Dhabi Gas Liquefaction Company (ADGAS).