Shale gas was supposed to be Ukraine’s ticket to greater energy independence from Russia. Chevron Corp. (CVX)’s decision to pull the plug has smashed those hopes.

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.

Shares in Vladimir Yevtushenkov’s Sistema Group fell more than 35 per cent this week, amid growing concern that Russian investigators will try to reclaim Rbs140bn ($2.7bn) in dividends that the group has received from its oil company Bashneft .

Ineos, the Swiss-based chemicals company, has entered the race to develop UK reserves of shale gas, unveiling ambitious plans on Thursday to spend $1bn on exploration in coming years.

Oil & Gas UK has issued a sharp rebuttal to reports that UK producers enjoy generous governmental subsidies.

Russia gas flows still frozen; Ukraine banks on mild weather to hold out

The European Union's executive body is close to signing off on two disbursement of loans promised to Ukraine that would give Kiev about EUR760 million ($965 million) in additional funding by the end of the year, two senior officials said Tuesday.

Big oil and gas finds in waters along Europe's northern edge may remain undeveloped now that oil prices have dropped, keeping potential supply of over a billion barrels of oil equivalent out of the market for the foreseeable future.

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