Statoil with partners Petoro and OMV have started the world´s first wet gas compression on the seabed of the North Sea Gullfaks field.​

Repsol SA said Thursday it will sell €6.2 billion ($7.1 billion) of noncore assets through 2020 as part of a cost-cutting drive, which also includes a significant cut in oil-exploration spending.

He gave the warning in a statement as Schlumberger reported third-quarter earnings per share that were 48 per cent below the equivalent period of 2014, but slightly above analysts’ expectations.

Four years ago, the International Energy Agency predicted global demand for the heating and power plant fuel would climb 16% by 2016. Now, it’s projecting 11%, and terminal developers are taking note. Excelerate Energy’s floating terminal in the Gulf of Mexico has been postponed. Inpex delayed the start of an LNG project in Australia by almost a year to the third quarter of 2017.

DEA Deutsche Erdoel (DEA), a company based in Germany controlled by Russian billionaire Mikhail Fridman’s investment firm LetterOne, signed an agreement to buy 100% of E.ON’s shares in E.ON E&P Norge for $1.6 billion, explaining that the transaction will allow DEA doubling its current production in Norway.

"...in Europe investment signals are unclear. As a result of EU policy and lack of an expressed role of gas in these policies, there is an additional political risk concerning future European gas demand," Norway's Oil and Energy Ministry said in its reply to the European Commission, as a part of wider consultations on the EU's strategy on LNG and gas storage.

Nord Stream II would consist of two lines, doubling the 55-bcm annual capacity of the Nord Stream offshore pipeline which already runs from Vyborg near Russia's border with Finland to Greifswald in Germany.

"Considerable uncertainties" surrounded the U.S. economic outlook, particularly the drag on exports from slowing global growth, low investment caused by the decline in oil prices and a “disappointing” recent drop in U.S. job growth.

Britain has told Russian oligarch Mikhail Fridman he was still welcome to invest in the country even after he was forced to divest gas assets there under pressure from the previous government.

Swiss chemicals giant Ineos has bought its first British North Sea gas fields from Russian billionaire Mikhail Fridman's investment fund LetterOne, outlining plans to further expand its energy resources to supports its petrochemical business.