Island Oil & Gas plc has today announced that the company's asset swap agreement with OMV has received the relevant governmental and partner approvals.

Sebastien Loeb dominated the first day of Rally Germany to leave the world champion closing in on his sixth win of the season.

Marcus Gronholm received the perfect birthday present today when he held off Sebastien Loeb to win the Swedish Rally and extend his lead in the world championship.

European buyers of Gazprom’s natural gas today said they were receiving full supplies after the Russian monopoly increased shipments through Ukraine.

Russia’s state-controlled OAO Gazprom natural gas monopoly today accused Ukraine of diverting about $25m (€21m) worth of Russian gas intended for customers in other European countries, Russian news agencies reported.

The stand-off between Russia and Ukraine over gas supplies sent a shiver running through western European countries fearing they may become innocent victims of the dispute between Moscow and Kiev.

Natalie Barratt will return to the world rally stage after signing a last-minute deal to compete in the production championship.

Petroceltic has signed a contract with Great Wall Drilling Company (Tunisia) to provide the GW 92 land drilling rig for Petroceltic's forthcoming Sidi Toui 3 Well in the Ksar Hadada Permit Area in southern Tunisia.