The dramatic events that recently took place regarding the termination of South Stream and its replacement by the so-called 'Turk Stream' pipeline has caused shock throughout Bulgaria, which is already rife by public discontent against the current political and economic elite.

Saudi Arabia, the world’s largest oil exporter, deepened the discount at which it sells crude to Asia and the U.S., underscoring for some market watchers the kingdom’s commitment to defending its market share amid the recent rout in oil prices.

Heavily indebted US shale companies are facing financial pressure as a result of the fall in the price of oil but may find their lenders are inclined to “go easy” on them, according to Fitch, the rating agency.

U.S. crude oil and lease condensate proved reserves rose for the fifth consecutive year in 2013, increasing by 9% from the 2012 level to 36.5 billion barrels

Oil prices slid to the lowest point in more than five years Friday as worries about a global glut of oil continued to weigh on the market.

Shares in Vladimir Yevtushenkov’s Sistema Group fell more than 35 per cent this week, amid growing concern that Russian investigators will try to reclaim Rbs140bn ($2.7bn) in dividends that the group has received from its oil company Bashneft .

that would allow Russia to establish control over such a gas trading hub, former US ambassador to Azerbaijan, Director of the International Centre for Defense Studies in Tallinn, Matthew Bryza told Trend.

Serbian Deputy Prime Minister Zorana Mihajlovic said Tuesday that "the freezing" of the South Stream pipeline project was a problem for Serbia.

The fallout from Russia's decision to abandon its ambitious South Stream pipeline deal continued Dec. 3, as Italian energy services firm Saipem announced that it would lose almost $2 billion because of Moscow's move

Bulgaria’s Government will do all it can to support the realisation of the South Stream gas pipeline project due to its immense economic importance and despite the infringement procedure against Sofia for suspected public procurement law breaches.