MANILA, May 31 (Reuters) - The Philippines' energy ministry plans to import initially about 240 million litres of diesel, equivalent to three days of the country's requirements, from Russia and other non-OPEC countries for stockpiling purposes, it said on Thursday.

BAKU, May 30 (Reuters) - Azeri state oil BOP Blow Out Preventer repair company gulf coast SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field in the Caspian Sea.

BAKU, May 30 (Reuters) - The global oil industry should ramp up investment to ensure it can cope with future consumption growth and avoid supply shortages, OPEC Secretary-General Mohammad Barkindo told a conference in Baku.

The redundancy in pipeline monitoring and data collection equipment that oil producers and midstream operators use to maintain crude oil purity standards can yield extra costs, poor transparency and inconsistent data quality.

(Bloomberg) -- Oil took a breather from its week-long rout as the dollar’s rally faltered and concerns over higher OPEC oil rig flanges gulf coast production eased.

DALLAS, May 30 (Reuters) - Exxon Mobil Corp's chief executive said on Wednesday he hopes the new attorney general in New York "comes to a different conclusion" than predecessor Eric Schneiderman on a climate change probe into the world's largest publicly traded oil producer.

MOSCOW, May 29 (Reuters) - Russia's Gazprom Neft, the oil arm of gas giant Gazprom, said on Tuesday its first-quarter net income rose by 12.5 percent year-on-year to 69.7 billion roubles ($1.1 billion) thanks to stronger oil prices, oil rig flanges gulf coast production and sales.

BEIRUT, May 29 (Reuters) - Lebanon's search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France's Total , Italy's Eni and Russia's Novatek.

(Bloomberg) -- Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back.