LUKOIL has published consolidated US GAAP financial statements for 2014. The Company’s 2014 net income reached $4,746 million. EBITDA reached $15,982 million in 2014.

Onshore and offshore driller Nabors Industries Ltd swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices.

Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt and protect cash.

John Browne, the former chief executive of BP, will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported.

The UK has blocked the sale of North Sea gasfields from Germany’s RWE to a multibillion-dollar investment fund backed by Russian billionaire Mikhail Fridman.

Brazil's state-run oil company Petrobras' debt was downgraded to junk status on Tuesday by Moody's Investors Service. Moody’s Lowers Rating of 5 Russian Companies, Including Transneft.

Exxon Mobil Corp said spending will decline about 11 percent this year to around $34 billion due to plunging oil prices, according to a regulatory filing this week.

Investment by British companies slowed in the final quarter of 2014, official data showed Thursday, as the fall in oil prices drove the North Sea extraction industry to cut down spending on infrastructure.

Things are not any easier for the natural gas business in Europe at the beginning of 2015, but in a session dedicated to new customers and new markets, industry representatives gathered in Vienna, Austria at the European Gas Conference offered their views on how gas might regain its position amid the numerous challenges.

Amid the military escalation in Eastern Ukraine, the geopolitical arm-wrestling between Brussels and Moscow, and its impact on natural gas matters, can only get more complicated.

New natural gas pipeline project from Russia to Turkey, the Turkish Stream, is the only option on the table at present for Russia, say experts.

The Managing Director of Bank Mellat, Iran’s biggest private bank, has announced that the institution will invest $7 billion in the development of South Pars gas field, Iran’s largest resource holding some 30 percent of the country’s total proved gas reserves.

Judge rejects BP attempt to lessen fines for Gulf oil spill

Plunging sales to Europe and falling energy prices are not only sapping the revenue of Russia's top natural gas producer Gazprom but also depriving the country's budget of much-needed funds.

The Interior Department on Friday proposed the first-ever federal regulations for oil and natural-gas drilling in the Arctic Ocean requiring companies to prepare extensive contingency plans that could swiftly respond to and contain an oil spill in the region’s frigid, isolated waters.