The United States will struggle to follow through on threats to impose deeper sanctions on the Russian energy sector, as European fears over collateral economic damage leave President Barack Obama's administration with diminished options.

Russia is using natural gas as a political tool and the United States needs to know if it is “on the same page” with Turkey regarding Russia’s actions, a top U.S. energy envoy has said.

The world’s biggest energy groups have sold record amounts of debt this year, taking advantage of historically low interest rates to plug cash shortfalls with borrowing, after a 50 per cent plunge in oil prices.

Companies within Russia’s energy industry should take advantage of Cyprus’ existing and potential opportunities relating to natural gas infrastructural projects, Energy Minister Giorgos Lakkotrypis said on Friday.

Total SA is seeking the equivalent of up to $15 billion in Chinese financing to fund its expansion in Russia, its chief executive said, as U.S. sanctions complicate the French oil giant’s big bet there.

The Bulgarian government finds itself in a position where it needs to secure long-term reliable natural gas supplies, after two successive failures in the past few years to get involved in major infrastructure projects, namely the Nabucco and the South Stream pipelines.

The US drilling rig count fell 56 units—41 of which targeted oil—to settle at 1,069 rigs working during the week ended Mar. 20, capping off the 15th consecutive week in declines, according to data from Baker Hughes Inc.

Could an oil and gas bounce-back loom in America’s near future? During his appearance on CNBC’s “Squawk Box,” energy magnate Boone Pickens seems to think so, forecasting prices to rise to $70 per barrel by the end of the year.

Natural gas international markets are constantly growing. Despite the ongoing crisis, Europe is increasing its dependence on imports, while emerging economies in Asia face the daunting task of fuelling their economic growth.

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.