Gazprom has terminated a shareholder agreement for Nord Stream 2, a joint venture to build a pipeline between Russia and Germany, circumventing Poland and other countries, Russian press agency TASS has reported.

Nigeria aims to increase its crude oil output to 2.8 million b/d by 2019 and to 3 million b/d by 2020 from the current average of 2 million b/d, according to a short term policy document produced by the country's oil ministry.

Iranian President Hassan Rouhani has voiced Tehran's readiness for boosting energy cooperation with Moscow, underlining the presence of Russian companies in various energy sectors in Iran.

U.S. Rig Count is down 199 rigs from last year's count of 767, with oil rigs down 122, gas rigs down 78, and miscellaneous rigs up 1. Canadian Rig Count is unchanged from last year's count of 176, with oil rigs up 21 and gas rigs down 21.

“Eighty percent of voters support increased development of U.S. oil and natural gas resources including 71 percent of Democrats, 94 percent of Republicans and 76 percent of Independents,”

Royal Dutch Shell Plc will invest $10 billion in Brazil over five years now that the country has increased opportunities for foreign companies in its oil industry, its chief executive officer said on Thursday.

ConocoPhillips has set its 2017 capital expenditures guidance at $5 billion, down 4% compared with its 2016 guidance of $5.2 billion and less than half of its 2015 capex and investments that totaled $10.1 billion. The firm recently cut its 2016 capex from $5.5 million.

Total investment in oil and natural gas extraction in Norway was 21% lower in the first half of 2016 compared with the first half of 2015, a decline of about 20.9 billion Norwegian kroner (US $3.5 billion). However, investment cuts have affected some segments of the industry more than others.

The IMF Executive Board will meet on Friday, November 11 to discuss Egypt’s request for financial assistance under an Extended Fund Facility (EFF) for the amount of $12 billion.

The World Bank welcomes Egypt’s recent economic and social reform measures including the floatation of the currency, measures to boost investment especially in Upper Egypt, adjusting energy prices to reflect market conditions, and strengthening the social safety net.