Cyprus clinched a last-minute solution to avert imminent financial meltdown early Monday after it agreed to slash its oversized banking sector and inflict hefty losses on wealthy depositors in troubled banks to secure a 10 billion euro ($13 billion) bailout.

• March 25, 2013

Gazprom has confirmed its interest in buying a combined cycle generation plants in Europe despite competition from cheap coal.

• March 25, 2013

Russia's state-controlled Rosneft has announced it has finalized deals to gain control of TNK-BP and become the world's largest publicly traded oil producer.

• March 22, 2013

President Nikos Anastasiades has announced an agreement between political parties in Cyprus to establish an "investment solidarity fund" as part of a new bailout plan.

• March 21, 2013

Ukraine intends to obtain observer status in the Customs Union of Russia, Belarus, and Kazakhstan, the country's premier has announced.

• March 19, 2013

In all the noise of tomorrow’s Budget, many may not spot a small tweak to the fiscal regime for UK oil and gas. Those of us with a close interest in unconventional oil and gas, however, will be watching closely. Last year the Chancellor announced a consultation on a specific tax regime for onshore shale gas development, the results of which are expected on Wednesday.

• March 19, 2013

Kazakhstan could divert its natural gas supplies from the largest deposit in Karachaganak to China if it fails to sign a contract with Russia.

• March 18, 2013

Putin warns proposed levy on bank deposits in Cyprus, a favoured offshore haven for Russian big business, would be dangerous

• March 18, 2013