Islamic State ‘takes Syrian state’s last oilfield’

Islamic State of Iraq and the Levant (Isil) fighters have seized the last major oilfield under Syrian government control during battles over a vast central desert zone, a group monitoring the conflict said on Monday.

The Jazal field was now shut down and clashes were ongoing east of Homs, with casualties reported on both sides, the Britain-based Syrian Observatory for Human Rights said, without giving dates or more details.

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Russia and China strengthen oil and gas deals

Chinese and Russian oil companies signed several deals during the recent Asia Pacific Economic Cooperation annual meeting in Beijing, indicating that the two countries have entered a honeymoon period in the area of energy cooperation, Guangzhou’s 21st Century Business Herald reports.

China National Petroleum Corp (CNPC) signed framework deals with Russian oil company Rosneft and gas supplier Gazprom Nov. 9 for buying a stake in an oilfield in Russia and in gas supplies.

The deals came as Moscow saw a further drop in oil prices and in its currency, the rouble, since July, which has hurt the Russian economy, the newspaper noted. Continue reading