LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2015. The Company’s net income in the first quarter of 2015 amounted to $690 million, which is a 60.2% y-o-y decrease. EBITDA (earnings before interest, taxation, depreciation and amortization) in the first quarter of 2015 decreased by 29.5% to $2,816 million. Sales revenue was $23,190 million (-35.0% y-o-y). The decrease in revenue, EBITDA and net income was mainly due to the decrease in the average Urals blend oil price by more than 50% y-o-y in the first quarter of 2015.

Russian natural gas producer Gazprom put Ukraine's total gas debt at almost $29.5 billion on Thursday, ratcheting up pressure in a gas pricing dispute with the country, which is fighting a pro-Moscow rebellion on its eastern outskirts.

The UK's new Conservative government is planning an energy bill to set up the new Oil and Gas Authority with the powers it needs to become a "robust, independent and effective regulator"

Naftogaz's role is the creation of an efficient gas market in Ukraine.

Imports from the European Union (EU) will drop because Russian gas is now competitive, according to state-run NAK Naftogaz Ukrainy. Flows from Slovakia, the EU’s biggest supplier to Ukraine, may fall by a quarter from May, Tomas Marecek, the chairman of Slovak grid operator Eustream, said.

The UK is to force Russian billionaire Mikhail Fridman to sell a dozen North Sea gas fields owned by his $10bn energy fund L1 Energy, giving him just three months to comply or lose operating rights.

Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.

UK Oil and Gas Investments (UK) boosted its oil in place estimate Thursday for the onshore UK Horse Hill field up to 100 billion barrels.

European gas prices started the summer season at a five-year low, signaling easing concern about disruptions to Russian supply and below-average reserves.

LITASCO SA, the exclusive international marketing and trading company of OAO LUKOIL, together with its Joint Venture partner Burando Maritime Services, a leading maritime services provider in the Amsterdam-Rotterdam-Antwerp region have entered into an agreement to sell 100% of their respective shares of Service Terminal Rotterdam v.o.f. (“STR”) to iCON Infrastructure Partners II, L.P.. The transaction was entered into following two months of exclusive discussions and is expected to close at the end of April 2015.