U.S. oil production growth will stop this month and begin to decline early next year due to low oil prices, the former head of oil firm EOG Resources, Mark Papa, said on Tuesday.

U.S. Rig Count is down 29 rigs from last week to 809, with oil rigs down 26 to 614, gas rigs down 2 to 195, and miscellaneous rigs down 1 to 0.

Gazprom has also received 50 per cent in Wintershall Noordzee B.V., which is involved in hydrocarbon exploration and production in the North Sea. In turn, Wintershall has obtained 25.01 per cent in the project for developing blocks 4A and 5A in the Achimov deposits of the Urengoy oil, gas and condensate field

The Asian market is one of the key priorities for Gazprom and Sakhalin’s energy plays a significant role in the company’s strategy. This year the Sakhalin II project is celebrating its 10th anniversary. It is one of the world’s largest integrated, export-oriented gas and oil projects that became possible after the first ever Russian production sharing agreement in 1994. Sakhalin II is managed and operated by Sakhalin Energy Company and its shareholders: Gazprom (50% and 1 share), Shell (27.5% minus 1 share), Mitsui (12,5%), Mitsubishi (10%). It includes the only Russian LNG plant with 13.2 bcm annual capacity.

Spain’s Repsol said Thursday it will axe 1,500 positions over the next three years as part of a cost-cutting effort. The cuts represent about six percent of the company’s workforce and staff have already been notified of the plan.The company declined to comment on how the cuts will be distributed throughout its operations.

Over the past 25 years, China has attempted to develop its substantial CBM resources, estimated by China's Ministry of Land and Resources (MLR) at more than 1,000 trillion cubic feet (Tcf). Currently, there are more than 20,000 wells producing a total of 0.36 billion cubic feet per day (Bcf/d) of CBM in China. However, CBM well productivity in China is significantly lower than in countries such as Australia and the United States. CBM development in China has focused on the Ordos and Qinshui Basins of Shanxi Province. Although these two basins are considered to have China's best geologic conditions, they still face significant geologic challenges (low permeability, under-saturation) that reduce well productivity.

Корректировка цен на газовых рынках вследствие снижения нефтяных котировок не изменила доминирующего положения АТР в качестве локомотива роста потребления газа в мире. По оценкам экспертов, к 2025 году потребность в импорте газа в странах региона может вырасти в полтора раза с нынешних 280 млрд куб. м до более чем 400 млрд куб. м в год.

Last month, the United States restricted exports, re-exports and transfers of technology and equipment to the Yuzhno-Kirinskoye field. The sanctions were imposed just weeks after media cited Shell officials as saying the firm was considering Yuzhno-Kirinskoye as part of an asset swap deal with Gazprom, announced in June.

The oil giant is to halt drilling at the Burger J well in the US Arctic, saying it can't justify the expense due to low oil prices. Shell only won the controversial permission to explore the icy waters last month.

Energy Transfer Equity LP (ETE), Dallas, and Williams Cos. Inc., Tulsa, have agreed to merge in a deal valued at $37.7 billion, including the assumption of debt and other liabilities. Williams previously rejected an unsolicited all-equity acquisition proposal by ETE valued at $53.1 billion