Russia is against an increase in global crude production, rather than favouring a reduction, and remains pessimistic about the possibility of Moscow and Riyadh reaching a production coordination deal, Russia's energy minister Alexander Novak said Thursday. "We are in favor of, not a cut, but of countries not increasing their output, so that demand, which is growing year-by-year, is covered by the oversupply that exists in the market," Novak said.

Turkish state pipeline company BOTAS imported 33.06 billion cubic meters of gas from various sources in Jan.-Oct. 2015, compared to 31.73 billion cubic meters in the same period of 2014.

The 180-km (110-mile) pipeline will be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA.

Statoil and Repsol announce transactions in Norway, UK, US and Brazil

"These assets are profitable, well maintained and are an important part of New Zealand's energy mix," Shell New Zealand Chairman Rob Jager said in a statement Thursday. "The Shell business in New Zealand is great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time."

Halliburton and Baker Hughes, which do the physical work of drilling wells and extracting oil and natural gas for energy companies, trail only Schlumberger Ltd. in the marketplace.

The $23 billion in downstream projects would enable a 7 million-tonne/year reduction in the Mexico’s carbon dioxide emissions.

The agreement will involve the development of five trillion cubic feet of gas resources, as well as 55 million barrels of condensates. Production from WND is expected to be around 1.2 billion cubic feet a day (bcf/d) and all the produced gas will be fed into Egypt's national gas grid.

The company also expects to close $2.3 billion of noncore asset sales, including $600 million from transactions that closed through the first three quarters of 2015. The remaining $1.7 billion represents deals with agreements in place that are expected to close in fourth-quarter 2015 or first-quarter 2016.

“This compares to $2.3 billion in 2015, so a nearly 60% cut. This is one of the steepest 2016 spending cuts we’ve seen across oil and gas producers.”