April 2015

North Dakota Democrats are predicting a “nightmare scenario” for future state revenues if the Republican-led Legislature radically restructures oil taxes as a hedge against falling crude prices.

Baker Hughes Inc (BHI.N), which is being bought by Halliburton Co (HAL.N) for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services.

The US should remove the national interest demonstration requirement for LNG exports to countries with which it does not have a free-trade agreement before it loses one of its biggest energy and economic opportunities in its history, anExxonMobil Corp. executive said.

Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery.

Russia has a five year window, at best, to successfully enter the global LNG markets and even that window is closing fast. That sentiment was the major takeaway from the recent Russian LNG Congress in Moscow.

Turkey's relationship with Russia is changing significantly. A domestic economic crisis, low energy prices and European energy diversification efforts have weakened Russia.

Brussels will on Wednesday accuse Russia’s Gazprom of illegal abuse of its dominant position in Europe’s gas market, unveiling antitrust charges that threaten to inflame already difficult relations with Moscow.

The UK is to force Russian billionaire Mikhail Fridman to sell a dozen North Sea gas fields owned by his $10bn energy fund L1 Energy, giving him just three months to comply or lose operating rights.

Oil services company Weatherford International Plc increased the total number of employees it is looking to lay off in 2015 to 10,000 as it copes with the fall in oil prices.

Halliburton has cut 9,000 jobs in about six months and is considering additional cost-cutting moves as falling oil prices reduce demand for its drilling help.