Gazprom has terminated a shareholder agreement for Nord Stream 2, a joint venture to build a pipeline between Russia and Germany, circumventing Poland and other countries, Russian press agency TASS has reported.

After more than a decade, China has decided to restore tax rebates on exports of gasoline, gasoil and jet fuel, a sign that Beijing is more than comfortable with the domestic supply situation for oil products.

Qatar Petroleum (QP) announced on Monday a joint venture with ExxonMobil called Ocean LNG, tasked with marketing LNG sourced outside the GCC country.

BP estimated its share of Rosneft net income for the third quarter to be $120 million5, compared with $246 million for 2Q 2016 and $382 million for 3Q 2015. In July BP received a dividend of $332 million, representing 35% of BP’s share of Rosneft’s 2015 IFRS net income.

Poverty rates are estimated to have increased, with access to services hampered in conflict-affected areas. The international partners are ready to support the efforts of the government of Ukraine on recovery of the infrastructure and peacebuilding, tailored to the specific needs of conflict-affected communities.

Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 million barrels per day (b/d) in 2015. Deepwater production, or production in water of depths greater than 125 meters, has increased 25% from nearly 7 million b/d a decade ago.

The state-controlled Russian energy group will yield to EU demands on how it sells gas in Europe in order to escape a penalty for past anti-competitive behaviour. The bargain is likely to anger eastern and Baltic states that have campaigned for a tougher approach.

Deputy Minister of Petroleum and Managing Director of National Iranian Gas Company (NIGC) Hamid-Reza Araqi says Iran is not rival to Russia in European gas market.

Europe sees Israel and the region as an important supplier of gas to Europe

The $45bn complex pipeline project running from Azerbaijan to Italy and consisting of four mega projects – Shah Deniz 2, South Caucasus Pipeline expansion (SCPX), Trans-Anatolian Pipeline (Tanap), and the Trans-Adriatic Pipeline (TAP) – would be delivered and will come in under budget, eventually delivering 16-32bn m³/yr.