On March 28, when it became known that Russian oil giant Rosneft was terminating its operations in Venezuela, Russia’s Federal Agency for State Property Management, Rosimushchestvo, has established a new company, Roszarubezhneft, which will, in particular, be engaged in the production and transportation of oil and oil associated gas.

Interfax reports with reference to Russian Single Register of Legal Entities that the company's share capital is 322.7 billion rubles ($4.05 billion USD). It is …

The Stockholm arbitration ruled in Poland's favor in a five-year dispute with Gazprom over the price of gas, reported Polish state-owned oil and gas company PGNiG.

"The Court of Arbitration considered PGNiG's arguments and confirmed that the gas price under the Yamal contract was non-market and overstated," PGNiG said.

Now the Polish company will pay Gazprom for fuel under a new price calculation formula, "which is directly linked to gas prices in the Western European market.

"The court's …

President Vladimir Putin has not asked US President Donald Trump to lift sanctions imposed on Russia, said the Russian President's press secretary, Dmitry Peskov, as cited by TASS.

On March 30, Trump suggested before a phone conversation with Putin that the Russian leader would ask him to lift U.S. sanctions, AFP reported. "He's been asking for it for two years," Trump said.

When asked by reporters whether Putin had asked for the sanctions to be lifted, Peskov said: "No, it's not so."

On …