- CUB Energy Inc., an international upstream oil and gas company, is pleased to refer to the news release of Kulczyk Oil Ventures Inc. dated February 9, 2012, reporting that the Olgovskoye-6 well in Ukraine has commenced commercial production at a rate of more than 1.5 million cubic feet per day ("MMcf/d") increasing total field production to more than 18.5 MMcf/d.
- The European Bank for Development and Reconstruction (EBRD) provided a five-year USD 50 million loan the State Export-Import Bank of Ukraine (UkrEximBank), the EBRD said in a statement.
- The European Commission wants to give investors long-term confidence about the direction of EU energy policy, including potentially binding 2030 energy goals, EU energy commissioner Gunther Oettinger said Tuesday.
- Ukraine reduced the transit of natural gas to Western Europe by 12.2% in January 2012, the united dispatcher's office of Ukraine's state-owned company Ukrtransgaz has reported.
- Peter Voser, chief executive of Shell, said $6bn would be spent worldwide on different kinds of shale gas operation, half of this in the US.