CAODC announces its 2016 Drilling Forecast • Projected 2016 wells drilled: 4,728—a decrease of 58% from 2014 (11,226) • Projected operating days: 56,260—a decrease of 57% from 2014 (131,021) • Rig fleet expected to contract by 62 (758 drilling rigs to 696 drilling rigs) • 57% decrease in employment from 2014 levels (-28,485 jobs)

Australia is significantly adding to global liquefied natural gas (LNG) supply capacity. Two new facilities started LNG exports within the last 12 months, and 5 more projects are under construction, scheduled to come online by 2018. With this growth, Australia is expected to overtake Qatar and Malaysia to become the world's largest LNG exporter, with 11.4 billion cubic feet per day (Bcf/d) of liquefaction capacity by 2019.

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce the acquisition of the entire issued share capital of two private Russian companies, RK-Oil Limited (“RK”) and BVN Oil Limited (“BVN”), from Mr Ilya Glebov. These companies were formed in 2014 in order to participate in public auctions for oil exploration and production licenses in Russia’s Komi region. Following these auctions both RK and BVN hold licenses in the Komi region.

The Qatar Investment Authority has sold its shares in Shell and BG for $1.5bn, according to Qatar’s Al Sharq Media.

Algeria and Libya may reduce deliveries to Europe in the next two to three years because of political instability, lack of investment and contract renegotiations, according to Carlo Malacarne, CEO of Italy’s Snam, Europe’s biggest gas transmission operator by pipeline length and storage capacity. Its Italian network includes entry points for gas arriving from North Africa and Russia.

Глава Минэнерго России заверил, что несмотря на продвижение по строительству второй ветки газопровода «Северный поток», проект «Турецкий поток» по-прежнему актуален. «Есть Турция сама по себе как потребитель, и есть потребности юго-восточной Европы, Италии, которые также самодостаточны, под них можно строить инфраструктуру», - сказал Александр Новак.

International and U.S. upstream oil companies wrote down $38 billion in assets in the third quarter of 2015, the largest for any quarter since at least 2008 for this set of 46 companies. Low oil prices continue to have a significant effect on the value of companies' assets and future prospects as well as on current revenue.

"In 2016, geopolitical challenges will not go away. We have to keep pushing for diversification of energy sources," Sefcovic said, reiterating that the Commission would scrutinize whether the Nord Stream plan complied with EU rules.

The financing problems for the project stems from U.S.-led sanctions against Russia’s oil and natural gas sector over Russia’s invasion of Ukraine in early 2014. Also, in June the EU extended economic sanctions on Russia until January 3, in a move that media said at the time was “keeping up pressure on Moscow to help resolve the Ukraine conflict.”

Azerbaijan’s commercial gas production increased by 6.2 percent in 10 month of 2015, compared to the same period in last year, the State Statistical Committee of Azerbaijan reported on November 17.