Africa's top oil producer, which is also rich in lithium, gold and limestone, will grant mining licences to only companies that process their minerals locally after toughening licensing rules for foreign companies last year.

The sharp growth in gas supply and the drop in prices could lead to a rapid conversion from coal to gas, the bank said.

The Interior Department finalized a regulation to block oil and gas development on 40% of Alaska's National Petroleum Preserve.

It is a second lawsuit Sberbank has filed in Russia against Glencore over unpaid fuel supplies.

Companies involved in the sector include BP and US-listed Kosmo Energy.