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ISLAMABAD, Pakistan, July 10 (UPI) -- Pakistani officials are considering whether to form a local or international consortium to move forward with plans for the Iran-Pakistan-India gas pipeline.

SAN RAMON, Calif., July 10 (UPI) -- California-based supermajor Chevron said upstream earnings for the second quarter of 2009 are expected to rise, though downstream results should see declines.

PRINCETON, N.J., July 10 (UPI) -- New Jersey-based power-generation company NRG Energy rejected a modified takeover bid from rival Exelon but welcomed future negotiations.

MOSCOW, July 10 (UPI) -- Russian market regulators found Gazprom Neft, the oil arm of energy giant Gazprom, violated antitrust laws by abusing its dominant market position.

VIENNA, July 10 (UPI) -- The annual revenue for the members of the Vienna-based Organization of Petroleum Exporting Countries passed $1 trillion in 2008, its highest posting yet.

NEW DELHI, July 10 (UPI) -- New Delhi sees the need to reconsider its position on the Iran-Pakistan-India pipeline on concerns over pricing arrangements and domestic gas reserves.

BAGHDAD, July 10 (UPI) -- Iraqi Oil Minister Hussain al-Shahristani faces an uphill battle to continue his tenure amid a tense political climate and a beleaguered contract auction.

FAIRBANKS, Alaska, July 10 (UPI) -- The Trans-Alaska oil pipeline system is set to pass a volume milestone this summer as plans commence to ease its reliance on North Slope oil reserves.

ANKARA, Turkey, July 10 (UPI) -- Ankara said it has extended invitations to key Caspian gas suppliers in preparation for the signing of an intergovernmental agreement on the Nabucco pipeline.

KIEV, Ukraine, July 10 (UPI) -- TNK-BP closed the necessary transactions to take near-complete control over the shares in the Lisichansk refinery, a top producing refinery in Ukraine.

LAGOS, Nigeria, July 9 (UPI) -- China's oil companies, buoyed by the country's foreign exchange reserves that now top $2 trillion for the first time, are on another buying spree in Africa, further challenging the century-long domination of the continent's mineral wealth by Europe's great powers.

BRUSSELS, July 9 (UPI) -- The European Commission slapped Gaz de France-Suez and E.ON with combined penalties of more than $1.6 billion in an effort to dismantle combined markets.

MANILA, Philippines, July 9 (UPI) -- The Asian Development Bank Thursday announced a program to help fund new technology to substantially reduce greenhouse gas emissions in China.

NEW YORK, July 9 (UPI) -- Declines in oil prices, retreating from highs near $70 per barrel, are based on market principles, making speculators nervous.

TEHRAN, July 9 (UPI) -- The U.S.-Russian row over missile defense is a ruse meant to cover the notion that Cold War dynamics are manifested now in the energy sector, Iranians say.

BAKU, Azerbaijan, July 9 (UPI) -- The State Oil Co. of Azerbaijan Republic is a diverse supplier as its trading offices establish relations with various partners, officials say.

HOUSTON, July 9 (UPI) -- A natural gas pipeline from the Rocky Mountains in Colorado lessens U.S. dependence on Canadian gas by as much as 10 percent, analysts say.

MOSCOW, July 9 (UPI) -- Anglo-Russian energy venture TNK-BP announced it will examine increasing its capital investment to match trends in the current market.

BAKU, Azerbaijan, July 9 (UPI) -- The increasing trend in energy prices could threaten the stability of global markets despite moves by the OPEC president.

OSLO, Norway, July 9 (UPI) -- French energy giant Total announced production started at its offshore Tyrihans oil and gas field in the Norwegian Sea, the largest such effort for 2009.