Gazpromneft Sakhalin, a subsidiary of JSC Gazprom Neft, has been awarded subsoil-use rights to the Severo-Zapadniy block on the Pechora Sea shelf and the Heysovskiy block on the Barents Sea shelf.

Energy security is a topic of growing concern to many EU countries and the Western Balkans, here defined as Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia, could play a role in improving that security through possible investment in liquefied natural gas (LNG) terminals and new gas pipelines.

Sharp drop expected in global E&P spending in 2015

After last year’s plunges in oil and the ruble, Russian President Vladimir Putin now has another thing to worry about: the price of natural gas.

Crude oil markets continue to search for a bottom as prices declined again in December and the first week of January. The North Sea Brent front month futures price settled at $50.96/bbl on January 8, a decline of $21.58/bbl from December 1

Two benchmark crude oils, West Texas Intermediate (WTI) and Brent, make up about 67% of the weighting in the S&P GSCI energy index. Petroleum-based products (gasoline, heating oil, and gasoil) together comprise another 29% of the S&P GSCI energy index, and because prices for these products generally follow crude oil prices, the index tends to follow the major price movements in the crude oil market.

Oil price crash claims first U.S. LNG project casualty

Russia announced state aid for a major energy project on Wednesday under a drive to shore up strategic firms as well as public faith in its banking system during an economic crisis deepened by Western sanctions.

Russian-Chinese energy partnership gaining momentum

RWE is seeking to insert safeguards into a €5.1bn contract to sell North Sea gasfields to a Russian billionaire that would ensure the assets remain operational in the event of further sanctions.