A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp about $1.6 billion to compensate for oil nationalization in 2007, though state oil company PDVSA expects to eventually pay closer to $1 billion.

EIA projects average U.S. household expenditures for natural gas, heating oil, electricity, and propane will decrease this winter heating season (October 1 through March 31) compared with last winter, which was 11% colder than the previous 10-year average nationally.

Sanctions against the Russian Federation, more specifically in its energy section, seem to have been gradually nullified due to a counteraction by Moscow, which as of late made significant progress on several long-standing issues that have long-term effects on the global natural gas sector.

Gazprom and Argentina address potential of joint gas projects

Canada scored a victory Tuesday when the European Union ditched plans to label oil derived from oil sands as dirtier than other forms of crude, removing a major potential obstacle to exporting the controversial fuel to Europe.

LUKOIL BRINGS MAJOR WEST SIBERIAN FIELD INTO OPERATION

The global energy efficiency market is worth at least USD 310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”.

Oil prices that have plunged to a 27-month low are inflicting damage on a Russian economy already contending with escalating sanctions from the U.S. and European Union over its role in Ukraine.

Russia's No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine.

Occidental Petroleum Corp, the fourth-largest U.S. oil and gas producer by market capitalization, is looking to sell its North Dakota oil assets for as much as $3 billion as the company seeks to focus on profitable regions, Bloomberg reported on Monday.