BP may lose license to Kovykta gas field
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BP PLC is likely to lose its license to develop a giant Siberian gas field that could be used to supply Asian markets, a senior environmental official said Friday.
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New moves to pressure Ukraine on gas supplies could be driven by Moscow's political agenda, but they could also signal the Russian gas giant's own supply problems
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A Siberian court on Monday threw out a lawsuit filed by the BP PLC's local subsidiary over the amount of gas it produces, opening the way for regulators to pull the license to the company's giant Kovykta gas field.
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RUSSIAâS stricken oil industry is facing what some have branded a return to Soviet Union days after gas monopoly Gazprom said it might bid for the production arm of energy giant Yukos.
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Russia on Thursday suspended for two months 12 water-use licenses held by a subcontractor for Royal Dutch Shell's $22 billion Sakhalin- 2 oil and natural gas venture, increasing pressure on the foreign investors to cede some control of the project.
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Russia's natural resources minister said Monday that foreign companies would be welcome to help develop offshore oil fields, the same day a senior U.S. diplomat expressed concern about the minister's earlier statement that foreign access to oil and gas deposits would be limited.
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Russiaâs strategy to secure a monopoly for Gazprom on exports to Asia is threatening an important investment by BP.
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Federal investigators are examining  whether BP Plc  manipulated crude oil and unleaded  gasoline markets, according to a report in The Wall Street  Journal on Tuesday that cited lawyers and traders close to the  case.
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BP PLC, the world's third-largest oil company, is under investigation by U.S. authorities for possible manipulation of crude oil and gasoline markets, a further blow to a reputation that has already suffered from recent oil spills in Alaska.
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BP PLC said Friday it has agreed to sell its stake in a giant Siberian gas field project to state-controlled gas monopoly OAO Gazprom &#151; a widely expected move that comes as the Kremlin tightens its hold on the world's biggest oil and gas industry.
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Russian gas monopoly Gazprom is to sell key oil subsidiary Gazpromneft in a move that may redraw the domestic petroleum industry.
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Some top executives at British oil company BP  are worried that cost cutting at a Texas refinery might have contributed to the plant's poor state of safety and equipment, according to an internal BP review, The Wall Street Journal reported on its Web site on Tuesday.
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A community protest in Nigeria's southeastern Abia State has forced the closure of two flowstations and a gas plant, shutting in about 35,000 barrels per day (bpd) of crude, Anglo-Dutch oil giant Shell announced.
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A key production unit of embattled oil giant Yukos was warned it has six months to correct violations at three drilling sites in western Siberia or the sites' licenses would be revoked, the Natural Resources Ministry's press service said Thursday.
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Oil giant BP is being questioned over its role in the alleged manipulation of global crude oil and petrol markets in 2003 and 2004.
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MOSCOW  - Russia's natural resources minister said Friday that he thought his ministry would give the main production unit of the battered Yukos oil company a three-month warning before pulling its drilling licenses, the Interfax news agency reported.
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Subcommittee members accused the executives of BP of systematic neglect, leading to the closing of the nationÂs largest oilfield.