The comedy drama with the Russian natural gas and the Ukrainian gas transmission system continues. The Russian gas has been lost somewhere in the middle of Ukrainian nowhere, whereas the Ukrainian administration continues to blame Russia and itself for what has been happening in the country lately. Ukraine can not purchase gas at market prices, and Russia can not sell it at a sacrifice. Europe suffers most from the crisis in severe weather conditions and dreams about cheap natural gas from Asia, which Russia has already bought over their head

U.S. regulators will decide on the possible updating of rules on how companies disclose oil and gas reserves.

New natural gas and light oil reserves were discovered by Brazil ’s state oil company off its southeastern coast.

Russia’s JSC Gazprom announced second-quarter net profit fall as sales to Europe fell and operating costs increased with rising prices for gas from Central Asia.

Ukraine will pay nearly US$180 (122 EUR) per thousand cubic meters of Russian natural gas beginning next year.

Russia's state-run gas monopoly would pay 30-50 percent more for natural gas from Turkmenistan beginning next year.

Russian gas export monopoly Gazprom, petrochemical firm Sibur and U.S. chemicals maker Dow Chemical Co have signed a memorandum on deep hydrocarbons refining.

Russia, supplier of a quarter of Europe's gas, signed a pipeline agreement with Italy today that will give the Kremlin more control over the continent's energy market. The deal was signed in the Kremlin during Italian Prime Minister Romano Prodi's visit with President Vladimir Putin.

Russia's gas monopoly has reached a preliminary agreement on the price of gas supplies to Ukraine, while Ukraine has settled its debt for previous shipments.

Energy minister of Ukraine will hold urgent talks in Moscow on warning to pay a US$1.3 billion (EUR920 million) debt for gas shipments or face a decrease in supplies.