“Natural gas is a flexible, it's supply is abundant and diverse, its ranges of use are still expanding, it's supply is abundant and diverse, it's low carbon, clean burning, an ally to renewables such as solar and wind, and it makes economic sense.”

‘Rosneft and BP signed final binding agreements for Rosneft’s sale to BP of a 20 per cent share of Taas-Yuryakh Neftegazodobycha (Taas), creating a new joint venture in East Siberia. The document was signed by Rosneft Management Board Chairman Igor Sechin and President of BP Russia David Campbell’ BP said, reporting one of the most relevant deals. During the first day of the international conference, Gazprom agreed to build a new pipeline to Germany under the Baltic Sea with Germany’s E.ON, Anglo-Dutch Shell, and Austria’s OMV.

"Uncertainty is the rule of the game in this industry," the head of France's Total Patrick Pouyanne said this month. "We are in the long-term business. This is why at Total we are keen to maintain our commitment to Russia."

OAO Novatek announced Thursday that Novatek Gas & Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.

More than $100bn of spending on new projects by the world’s energy companies has been slowed, postponed or axed following the oil price plunge, evidence of the drastic industry action that will curb output in coming years.

Shell will conduct its drilling in 140 ft of water about 70 miles northwest of the Alaskan village of Wainwright using the M/V Noble Discoverer drillship and Transocean Ltd.’s Polar Pioneer semisubmersible drilling unit, with each vessel providing relief-well capability for the other. The two drilling rigs and their supporting vessels will depart the Chukchi Sea at the conclusion of each exploration drilling season.

If there was one thing guaranteed to follow low oil prices (other than the loss of thousands of jobs) it was mergers and acquisitions. This has certainly rung true as companies consolidate their portfolios or use their war chests to snap up competitors while prices are down. The recent deal between Royal Dutch Shell and BG Group has many expecting a renewed wave of major business decisions. The buzz has fueled rumors that BP Plc will be susceptible to a takeover by fellow oil giant Exxon Mobil Corp.

Nigeria’s incoming government should consider selling down its majority stakes in joint ventures with multinational oil companies to shore up state finances and raise funding for infrastructure development, according to the central bank governor.

Shares in BG Group rose as much as 42 percent in early trade after Royal Dutch Shell agreed to pay that amount (47 billion pounds) for its smaller rival, making it the biggest deal in the sector in more than a decade.

Royal Dutch Shell will reportedly cut at least 250 more jobs this year at its UK North Sea operations.