Russia’s Deputy Premier Igor Sechin, taking direct aim at Middle Eastern oil producers, has urged Japan to increase its imports of Russian oil in addition to cooperating with his country on the development of its natural resources.

• May 20, 2010

The Kremlin rarely approaches EU-Russia summits with much enthusiasm, but there are signs that this may change in anticipation of the next summit in Rostov-on-Don on May 31.

• May 20, 2010

“What lessons can we learn from the Soviet collapse and apply to the current situation in Russia?
First, we must remember that Russia today is an oil-dependent economy. No one can accurately predict the fluctuations of oil prices. The collapse of the Soviet Union should serve as a lesson to those who construct policy based on the assumption that oil prices will remain perpetually high. It would seem that in our country, which has lived through the collapse of the late 1980s and early 1990s, this fact would be evident. But as soon as the prices went up again at the beginning of 2000 and in 2004 became comparable in real terms to those at the beginning of the 1980s, the idea that ‘high oil revenues are forever’ has gained an even wider acceptance.

• May 20, 2010

It is reported that Stroytransgaz has begun welding the linear part of the Taweelah-Fujairah gas pipeline a 244 kilometer, 48 inch facility in the United Arab Emirates

• May 19, 2010

Sanctions against Iran which include cargo ship inspections are being tabled at the UN Security Council.

• May 19, 2010

TPAO's winning of a second oil-producing tender will have a positive impact on the relations between Iraq and Turkey, Iraq's minister of oil has said.

• May 19, 2010

There is a glut for natural gas in the US market as a result of many shale gas discoveries and their rapid development. Consequently, major volumes of LNG originally developed for the US market are being diverted to Europe and other parts of the world

• May 18, 2010

The foreign ministers of Iran, Turkey and Brazil agreed on a formula for a swap of low-enriched uranium for nuclear fuel that could ease diplomatic tensions over Irans nuclear program, the Anatolia news agency reported.

• May 18, 2010