Oil has fluctuated the past three weeks as concerns over slowing demand in China fueled volatility in global markets. Photograph:  Nick Ansell/PA

Oil declined for a second day on speculation that Opec will fail to stabilise prices amid a global oversupply and concern that Chinese demand growth w(...)

BP’s second-quarter profits have been hit by lower crude prices and the cost of the 2010 Gulf of Mexico oil spill. BP reached an $18.7 billion settlement this month to resolve most claims from the oil spill, the largest corporate settlement in US history.

BP’s second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.8 billion charge re(...)

Averil Power left Fianna Fáil. Photograph: Brenda Fitzsimons

So what has Old Moore’s Almanac got for us this month? Under his predictions for Ireland for May, he had this:   ‘Female Irish politic(...)

Gazprom Neft, the oil arm of state gas giant Gazprom, said  that since the start of 2015 it had been selling in renminbi all of its oil for export down the East Siberia Pacific Ocean pipeline to China. Photograph: Maxim Zmeyev/Reuters

Gazprom Neft, Russia’s third-largest oil producer, is now settling all of its crude sales to China in renminbi, in the most clear sign yet that Wester(...)

Russia’s president Vladimir Putin and China’s president Xi Jinping attend a documents-signing ceremony at the Kremlin in Moscow on Thursday. Photograph: Sergei Karpukhin/EPA

As western leaders have one by one refused invitations from Vladimir Putin to today’s Russian Victory Day parade, there has never been any question th(...)

Rosneft’s company logo  near an oil derrick at Vankorskoye  field north of the  Siberian city of Krasnoyarsk, pictured in  March  2015. File photograph: Sergei Karpukhin/Reuters

Russian energy producer Rosneft may have to delay development of its liquefied natural gas (LNG) plant on the Pacific island of Sakhalin for at least (...)

Mikhail Fridman, co-owner of Alfa-Bank and a partner in TNK-BP Holding, has eschewed sensitive sectors such as the media

Julian Horn-Smith is the common denominator between Denis O’Brien and Russian oligarch Mikhail Fridman. For most of the last decade, the former Vodafo(...)

Russian president Vladimir Putin shakes hands with the president of Kyrgyzstan Almazbek Atambayev during a meeting in Saint Petersburg on Monday. Photograph: AFP/Getty Images

Vladimir Putin has reappeared in public after a mysterious 10-day absence that sparked frenzied speculation about the whereabouts of the Russian pres(...)

An employee looks out over an oil refinery  in Nizhny Novgorod, Russia. The drop in oil prices is driving a sharp recession in the country. Photograph: Andrey Rudakov/Bloomberg

Slumping oil prices have put Russia’s economy on course for a sharp recession and double-digit inflation next year, government ministers said, as auth(...)

An employee uses a machine while counting Russian ruble banknotes at a private company’s office in Krasnoyarsk, Siberia.

Russia’s rouble rose on Friday to its strongest levels in more than three weeks, in a sharp rebound from its recent all-time lows, after the governmen(...)