Russia's Gazprom reached an agreement with Eni yesterday giving the Italian oil major a cut in the price it pays for Russian gas, days after Moscow clinched a groundbreaking gas deal with China.
The agreement, signed by the gr
Egypt is still in talks with foreign energy companies to change the amount the government pays them for natural gas produced in the country and there is no timeline for when negotiations will finish, an oil ministry spokesman said.
US President Barack Obama proposed higher penalties for companies accused of oil market manipulation and sought more money for government oversight on Tuesday, trying to blunt the impact of high energy prices on his re-election chances.
Bahrain parliament's financial and economic committee has approved a decree-law to provide additional funds of BD388 million ($1.03 billion) for the 2011-2012 budget.
The funds are allocated for government employees' pay rises and