Rosneft wants to step up gas production and become the second largest gas company in Russia.

EAST EUROPE SCRAMBLES FOR ENERGY AFTER PUTIN KILLS SOUTH STREAM

The next few months are likely to be chaotic for the global energy industry

Renewed pressure on crude oil prices on Monday weighed heavily on the shares and bonds sold by US energy companies

The main Saudi concern is to protect market share.

At its meeting December 9, the Rosneft Board of Directors approved the main strategic objectives for Company developments.

The recent confidence in shale gas was likely premature, according to several new reports published in the US. In particular a study from the University of Texas claims the US boom will tail off by 2020 and not keep going to 2040 as previous less thorough analyses have predicted.

Europe is betting on the acceleration of the Southern Gas Corridor, which has been defined a key project along with the Vertical Corridor from Greece to Romania through Bulgaria.

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.