Mining and exploration investment declined 35% in 2015, the second largest year-over-year decline since the U.S. Bureau of Economic Analysis (BEA) began reporting the series in 1948.

BP and Oman Oil today signed a heads of agreement with the Government of the Sultanate of Oman committing to amend the Oman Block 61 exploration and production sharing agreement (EPSA), extending the licence area of the block and enabling a further development of the major Khazzan tight gas field. BP is the operator of Block 61 with a 60% interest and Oman Oil holds the other 40%.

U.S. Rig Count is down 30 rigs from last week to 541, with oil rigs down 28 to 439, and gas rigs down 2 to 102. Canadian Rig Count is down 20 rigs from last week to 222, with oil rigs down 13 to 118, and gas rigs down 7 to 104.

The Head of Rosneft noted that the demand for oil and oil products will be growing. The growth has become more diversified - China's role has diminished, but the share of India, other Asian countries and Africa is gradually growing. “More diversified growth seems more resilient, and confirms that many of the mentioned "threats" of reducing the role of oil in the world economy are largely exaggerated”- Sechin said. According to the Head of Rosneft, “an imbalance between oil supply and demand may significantly reduce already by the end of 2016, and by the end of 2017 even lack of oil supply is possible at the market”.

French oil company Total SA said Monday that a deep-water natural-gas project west of the Shetland Islands called Laggan Tormore will produce the equivalent of 90,000 barrels of oil a day—almost 6% of the U.K.’s total output.

Gazprom held the eleventh annual Investor Day in New York and London.

Net loss of $2.007 billion ($1.38 per common share), due to non-cash asset writedowns, which were a result of the depressed commodity cycle, and a foreign exchange loss on U.S. dollar denominated debt.

Full-year 2015 earnings were a net loss of $4.4 billion, or ($3.58) per share, compared with full-year 2014 earnings of $6.9 billion, or $5.51 per share. Excluding special items, full-year 2015 adjusted earnings were a net loss of $1.7 billion, or ($1.40) per share, compared with full-year 2014 adjusted earnings of $6.6 billion, or $5.30 per share.

Commenting on a statement by Gazprom on February 2 that Austria had imported 76.2% more gas this January than it had in January 2015, the country's dominant supplier OMV said that was because deliveries last year had been low for unspecified "technical reasons." "We are however back to normal levels this year," a spokesperson said. Gazprom said exports to Austria in 2015 were up by 11.5% in 2015 on the year but gave no volumes for either period.

The number of people employed in oil and gas extraction and support activities across the United States has fallen by around 100,000 since October 2014.

The global oil market will rebalance later this year, paving the way for a recovery in crude prices from their lowest level in more than a decade, according to Royal Dutch Shell’s chief executive.

По предварительным данным, за январь 2016 года «Газпром» экспортировал на австрийский рынок на 76,2% больше газа, чем за аналогичный период 2015 года. В 2015 году объем поставок газа по сравнению с 2014 годом вырос на 11,5%.

Россия и Австрия достигли положительных результатов по вопросу строительства газопровода «Северный поток – 2». По мнению вице-канцлера Австрии, проект «Северный поток — 2», по которому российский газ будет поставляться в Германию по дну Балтийского моря, позволит надежнее обеспечивать Европу газом.

Such a strategy may be economically rational for Gazprom: already-low prices in the European gas market mean it could relatively easily push prices to a level at which it would be unprofitable to ship LNG from the US — and in doing so defend its market share in a region which accounts for the bulk of its profits.

Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge. “It’s going to be a very turbulent year for our industry,” says BP CEO Bob Dudley.