TNK - BP: net profit falling by 13% in 2012

Number three Russian  oil producer-TNK - BP- purchased by its rival Rosneft, posted Thursday a net profit decline of 13% in 2012 to $ 7.6 billion, penalized by tax and accounting effects despite an increase in its production.

PUMA Energy will enter the mining market

Trafigura subsidiary, Puma Energy arrives on a new segment of the distribution of petrol in Australia with the acquisition of Central Combined Group (CCG), a company based in Queensland.

Gazprom and CNPC confirm intent to sign contract for Russian gas supply to China until late 2013

Gazprom and CNPC agreed to step up the negotiations on Russian natural gas supply via the eastern route with a view to sign a gas purchase and sale contract with

Lukoil will invest 400 million USD in Ivory Coast

In 2013, the Russian private oil company Lukoil will invest $ 400 million in its exploration projects off the coast of Ivory Coast, reported Ivory Coast President Alassane Ouattara.

Now, the Russian group explores three blocks in  Ivory Coast shelf and plans to begin work on a fourth site.

Lukoil  production in Russia decreases due to the legislation in force, allowing two companies, Gazprom and Rosneft, to work on the Russian continental shelf. In this context, Lukoil seeks new opportunities for exploration abroad.

Last October, Lukoil signed with the Government of  Ivory Coast a new agreement on the exploration of block CI-524 in the Gulf of Guinea, with a total area of approximately 450 square kilometres.

In may 2012, Lukoil Overseas (subsidiary of Lukoil) became the operator of exploration projects CI-101 and CI-401 (Côte d'Ivoire) and Cape Three Points Deep Water (CTPDW, Republic of Ghana). The three blocks are located in the deep waters of the Gulf of Guinea.

Sinopec acquires Chesapeake assets

The Chinese oil companies continue to buy assets in shale gas in North America. Sinopec, second oil Chinese group  by profits will pay $ 1.02 billion to acquire 50% of the assets held by the American Chesapeake in the Mississippi,  Oklahoma.

Total and Wintershall will invest 2.1 billion dollars in natural gas in Argentina

The French oil company Total and the German group Wintershall will invest each nearly a billion dollars in Argentina over the next five years to support the production of natural gas in the country, said Friday the Government of Argentina in a statement.

Lukoil to Discuss Offshore Projects with Petrobras-Report

OAO Lukoil Holdings (LKOH.RS) will hold talks with Brazil's