Private equity groups including Carlyle and Blackstone are to deploy billions of dollars in a hunt for acquisitions across the oil and gas industry, with a collapse in oil prices expected to lead to a wave of asset sales.

Lifting the longstanding ban on U.S. crude oil exports would boost the country’s economy and enhance its global leadership, a former senior Obama administration official will tell senators on Thursday, introducing a strategic dimension to the growing debate over selling American oil abroad.

Energy Minister Taner Yıldız claimed the allegation regarding the 10.25 percent discount agreement reached with Russian state-owned energy giant Gazprom was not real.

Taking advantage of lower oil prices, India will next month begin filling up its maiden strategic oil reserves to insulate itself from supply disruptions.

Indonesia's 2015 revenue target is "really unrealistic" and there will be a large budget shortfall that could force the government to cut spending, a World Bank economist said on Wednesday.

Talisman Energy Inc., the Canadian energy firm being taken over by Spain’s Respol SA, has joined an expanding list of oil-and-gas producers who are cutting jobs and shaving capital budgets as oil prices continue to slump.

Malaysia's Petroliam Nasional Bhd (Petronas) plans to use the $5 billion it raised in Asia's largest bond offering so far this year for corporate expenses as well as possible acquisitions, the company said.

The Fallout from Lower Oil Prices

Nexen Energy ULC, a wholly owned subsidiary of CNOOC Ltd., has reported organizational changes that will result in the reduction of 340 jobs in North America and 60 jobs in the UK, spurred by the decline in crude oil prices.

Not long ago, oil looked like a black gold mine for General Electric. The company known for toaster ovens and lightbulbs wrapped up a three-year, $10 billion buying spree in 2013 to bolster the growing oil and gas equipment unit that helped GE recover from the financial crisis. The company bulked up with the expectation that crude prices would remain at about $100 a barrel for years.