Russian natural gas accounts for roughly a third of all foreign supplied natural gas coming into Europe. Russia’s biggest partner is Germany. In that state, Russia’s presence is on the upswing.

U.S. economic growth braked more sharply than expected in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending, but there are signs activity is picking up.

BP suffered a sharp slide in first-quarter profits, hit by the plunge in crude prices that has battered revenues across the oil industry.

OAO Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2014.

Despite challenging oil and gas prices in the quarter, Statoil (OSE:STL, NYSE:STO) delivered Adjusted earnings of NOK 22.9 billion and NOK 7.0 billion after tax. Statoil reports a negative IFRS Net income of NOK 35.4 billion due to impairments.

EIA expects the United States to be a net natural gas exporter by 2017.

U.S. Rig Count is down 22 rigs from last week to 932, with oil rigs down 31 to 703, gas rigs up 8 to 225, and miscellaneous rigs up 1 to 4.

OAO Gazprom says antitrust allegations by the European Commission regarding territorial restrictions and an unfair pricing policy are “unsubstantiated.”

Total said it may take advantage of the slump in crude to make acquisitions that build on the strengths of Europe’s third-biggest oil company in deepwater offshore fields and liquefied natural gas (LNG).

The European Commission gave Gazprom 12 weeks to answer its Statement of Objections (SO) for alleged abuse of dominant market position in Central and Eastern European gas markets. The widely-anticipated decision triggered the enthusiasm of Ukrainian officials, raised some doubts among Russian experts and encountered strong opposition from Gazprom.