Engr. Asad Arif Rajput

Gas-rich Qatar is interested in buying a stake in Russia's biggest independent gas producer Novatek as well the company's Yamal liquefied natural gas project, the Gulf Arab state's oil minister said Tuesday.

Asked whether Qatar would be interested in acquiring a stake in Novatek and the Yamal LNG development, Mohammed Al Sada said: "the answer is yes."

"We are interested in both, in Yamal as well as Novatek, and we are engaged in the discussion on these two projects a...

BHP Billiton plans to invest roughly US $4.5 billion developing the shale oil and gas assets it bought in the U.S. this financial year as it ramps up production, the head of the mining company's petroleum division said Monday.

BHP expects capital spending to jump to almost US $6 billion in the 2015 fiscal year and roughly US $6.5 billion by 2020 as the company ramps up the number of rigs on its four project areas, Michael Yeager said in a conference call from Melbourne.

Italian oil and gas company Eni SpA (E) will invest $50 billion developing its huge Mozambique natural gas discovery with a view to exporting the gas to Asian markets, its Chief Executive Paolo Scaroni said in an interview Friday after a visit to East Africa.

Eni's recent discovery of 22.5 trillion cubic feet of natural gas in Mozambique, and earlier discoveries in Tanzania, are part of the transformation of East Africa into a fast-growing gas hub, and confirms the region's growing impo...

OPEC Tuesday said it was troubled by recent signs of economic weakness, even as it raised its medium-term oil demand forecast and signaled that it assumes higher medium-term oil prices in light of recent social spending efforts unveiled by some key OPEC producers.

In its closely-watched annual World Oil Outlook, the Organization of Petroleum Exporting Countries upgraded its oil demand forecast by 1.9 million barrels a day through 2015 compared with its year-ago estimate, after being sur...

The Obama administration proposed a moderate expansion of offshore oil drilling Tuesday, revealing a five-year plan that represents the first blueprint for offshore oil production since the Deepwater Horizon spill.

The plan, released by the U.S. Interior Department, proposes to open up regions in the Arctic and the oil-rich Gulf of Mexico for future leasing, but blocks access to the Atlantic and Pacific Oceans. There are no active leases in the Atlantic and Pacific currently.

U.S....