A flagship Russian gas project may soon test Moscow’s newfound willingness to cede greater control of its energy assets to Beijing in exchange for much-needed Chinese financing.

The rebalancing of the global oil market may still be in its early stage with the outlook “only getting murkier”, according to the International Energy Agency, as uncertainties remain about demand and supply responses to the steep drop in prices.

Relations between Greece and Russia appear to be strengthening after Tsipras confirmed his opposition to Western sanctions on Russia. He claimed that the Greek government helped block European proposals to increase the scope of the sanctions.

The Turkish Stream pipeline project is Russia's replacement for the South Stream project, which the EU effectively put on hold due to legal issues involving the same company supplying gas and constructing and owning the pipeline transporting the gas.

China will build a pipeline to bring natural gas from Iran to Pakistan to help address Pakistan’s acute energy shortage, under a deal to be signed during the Chinese president’s visit to Islamabad this month, Pakistani officials said.

Iran is believed to hold at least 30 million barrels in storage, and EIA believes Iran has the technical capability to ramp up crude oil production by at least 700,000 bbl/day (bbl/d) by the end of 2016. The pace and magnitude at which those volumes would reach the market would depend on the terms of a final agreement.

Preparing the ground for a much-discussed visit in Moscow (8-9 April), Greek Prime Minister Alexis Tsipras reiterated his opposition to EU sanctions against Moscow, adding that debt-ridden country’s ambition is to upgrade its relations with Russia.

Talks between the P5+1 nations and Iran have failed to reach a conclusive outcome by the self-imposed 31st March deadline. The P5+1 nations and Iran have extended talks for a further 24 hours, in the hope that an outline agreement over Iran’s nuclear programme could be reached.

The United States will struggle to follow through on threats to impose deeper sanctions on the Russian energy sector, as European fears over collateral economic damage leave President Barack Obama's administration with diminished options.

Total SA is seeking the equivalent of up to $15 billion in Chinese financing to fund its expansion in Russia, its chief executive said, as U.S. sanctions complicate the French oil giant’s big bet there.