Russia Oil news

Lukoil stops oil exports to Germany

Russia's second largest oil company Lukoil has announced that it has stopped deliveries to Germany because of a disagreement over prices. This is the second delivery stop to Germany within twelve months. A Lukoil spokesman said the deliveries in question total some 520,000 tonnes. Estimates put the company's annual oil deliveries to Germany at 40 million tonnes.

Gazprom signs oil, gas-production deal with Iran

MOSCOW, Russia (AP) -- Russian state gas monopoly OAO Gazprom said Tuesday it had reached agreement to drill and produce oil and gas in Iran in a deal that highlights Moscow's deepening trade and commercial ties with Tehran.

Gazprom said in a statement that the deal was signed Tuesday after meetings by CEO Alexei Miller with Iranian Oil Minister Gholam Hossein Nozari.

"The two sides agreed on the joint participation in the development of two or three blocs in the South Pars field as well as on the participation by GazpromNeft in an oil production project in Iran," the company said.

No other details of the deal were released.

Ties between Russia and Iran have deepened in recent years, despite efforts by the West to isolate Tehran for its alleged sponsorship of terrorist organizations and its nuclear programs

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