Russia will discover next week how much it may be asked to pay for the confiscation a decade ago of Mikhail Khodorkovsky’s Yukos Oil Co., then the country’s biggest oil producer.
The Permanent Court of Arbitration in The Hague will rule on July 28 on a $103billion damages claim the company’s former owners filed against Russia in 2007, Tim Osborne, head of GML Ltd., former holding company of Yukos, said by e-mail. Court official Willemijn van Banning said by phone she couldn’t comment on the date for the ruling.
Spanish oil major Repsol is exploring a bid for Talisman Energy as it looks to deploy cash it received as compensation for the loss of its stake in Argentina’s YPF, according to people familiar with the matter.
Global power group ABB's earnings dropped for a third consecutive quarter, missing analyst estimates, amid mounting charges at the unit for offshore wind and solar projects.
Brent crude gained for a second day as the European Union warned that Russia risks growing isolation over the downing of Malaysian Air flight MH17 in eastern Ukraine.
UK natural gas for August fell for a second day as tanker arrivals top up supply, reducing immediate risks posed by the escalating Ukraine crisis.
The August contract in the UK, Europe’s biggest market, declined as much as 1.4% after closing 4% down on July 18, according to broker data compiled by Bloomberg. The contract gained 6.9% the day earlier, the most since April 7, after the downing of flight MH17 over rebel-controlled territory in eastern Ukraine threatened to escalate tensions between the West and Russia, Europe’s biggest gas supplier.
Asia-focused explorer Salamander Energy has signed a definitive share sale and purchase agreement for 40% working interest in its two Gulf of Thailand concessions with Sona Petroleum Berhard.
The downed jetliner in Ukraine and Israel’s Gaza offensive blindsided speculators who had cut bullish crude bets on the assumption that risks to supply were diminishing.
Norwegian oil services company AGR has been acquired by an independent European private equity firm Silverfleet Capital as part of its global expansion strategy.
North-east hydraulics firm has doubled its turnover in two years after winning work with major oil and gas players, including Subsea 7, Aker Solutions, Oceaneering and Archer Drilling.
Spare crude-export capacity will limit any gains in oil prices after the US and European Union imposed sanctions on Russian energy companies over Ukraine, according to Nomura Holdings Inc. and Sapient Global Markets.
OAO Rosneft, Russia’s biggest oil company, natural gas producer OAO Novatek and OAO Gazprombank, the third-largest lender, are among those hit by the penalties, the US Treasury Department said yesterday. The sanctions are the latest response to what US and European leaders say is Russian President Vladimir Putin’s refusal to end support for rebels who have been battling Ukrainian government forces in the east.
Engineering group Aker Solutions has recorded a drop in its earnings before interests (EBITDA) on the previous year ahead of its planned split in September.
Commodities from iron ore to copper and Brent crude will drop over the next five years as global supplies climb, according to Goldman Sachs Group Inc., which highlighted oil’s recent losses as a sign of increased output.
There will be substantial declines in some metals, energy and bulk commodities, analysts including chief currency strategist Robin Brooks wrote in a report. The period of continued year-on-year price rises for most commodities is over, they said in the report.
Oil and gas engineering firm Kvaerner is targeting a continued increase in earnings by cutting costs of new projects as it reports improved financial results in the second quarter of the year.
Oil prices are creating the greatest incentive in four years to store crude at sea and sell it later as prices rise, prompting speculation there will be a revival in a trade once used by firms including BP Plc and Citigroup Inc.
Independent investment company Equistone Partners Europe has sold Aberdeen-based PD&MS Energy in a secondary buyout to a mid-market private investor Inflexion.
Brent crude traded near the lowest price in three months as Libya’s oil output continued to increase, easing the threat of supply disruptions from the Middle East. West Texas Intermediate fell in New York.
