Yukos Oil and Gas Company

Russian national oil company Rosneft is expanding development at its Vankor field in Eastern Siberia and recently announced its beginning construction of a pipeline that will link a satellite field – Suzun – to the Vankor complex. “According to geologic data form January 2014, reserves of oil and condensate of the Suzun field total over 56 million tons [over 473 million barrels], and gas reserves of 35.3 billion cubic metres.” [Oil & Gas Technology]

Armed conflict in Yemen threatens to spill over the border into Saudi Arabia, as numerous groups battle for regional control in the aftermath of the Arab Spring. “The Houthis are fighting al Qaeda, two commanders have been sanctioned by the United States, and the group is viewed as Shi’ite Iran’s ally in its proxy war with Saudi Arabia, which has suspended aid to Yemen since the Houthis arrived.” [Reuters]

ExxonMobil released a report that predicts emissions in the developing world will surge 50 percent, suggesting intergovernmental efforts to reach agreement on cutting greenhouse gas emissions will fall short of required targets. The report released on Tuesday comes as the UN is holding talks in Lima, Peru to discuss implementing climate change policies. “Even as the most advanced economies cut energy use by almost one tenth through 2040 and add hundreds of millions of fuel-efficient vehicles, booming growth in places like IndiaSouth Africa and Thailand will boost demand for fuels 36 percent, the Irving, Texas-based company said in its annual outlook. Emissions will surge as an expanding middle class in poorer nations demands electricity, schools and hospitals.” [Bloomberg]