Statoil ASA announced that it will vacate leases it holds in the Chukchi Sea off Alaska and close its office in Anchorage because they are no longer competitive. Its Nov. 17 action came after Shell Offshore Co. made a similar move with its Alaska federal offshore leases for the same reason.

Credit crunch was expected to hit many independent U.S. oil producers, starving the industry of billions of dollars and further denting company budgets and drilling plans.

Gazprom would need to bring spot gas prices below $4 per million British thermal units (mmBtu), versus around $5.65 per mmBtu now, to shut Europe off to U.S. imports - a level Goldman Sachs expects could be reached by 2018/2019.

Gabriel explained that he would ensure that construction of the pipeline would remain legal in the eyes of the German authorities. Gabriel also made it clear that Brussels should have limited involvement with the project.

Iran said in September it had approved a draft of international oil and gas contracts to attract foreign investors and oil buyers once international sanctions are lifted but has not provided details so far.

The country produced 44.5 million tons of petrochemicals in the past Iranian calendar year (ended on March 20, 2015), with over 10 percent rise from 40.5 million tons in its preceding year.

In Q3 2015 production of hydrocarbons reached 63.1 mmtoe (5.08 mboed). In 9M 2015 production of hydrocarbons reached 189.6 mmtoe (5.14 mboed). The level of production was ensured by accelerated drilling program, including increase in share of horizontal drilling with hydraulic fracturing, sidetracking, implementation of simultaneous-separate production and injection, measures of oil inflows stimulation.

Rosneft, a company led by Igor Sechin, said that in the first nine months of 2015 it produced 45.92 billion cubic metres (bcm) of gas, increased from 40.87 bcm in the same period last year. On Friday, Gazprom reduced its 2015 forecasts to 427 bcm, a significant decrease on its forecasts released six months ago,which expected production for the year to reach 485 bcm.

Russia’s President Vladimir Putin met with Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah this week to discuss opportunities for cooperation in the fields of energy and diplomacy. The two countries also signed a memorandum for military technical cooperation.

Chevron Corp. is planning to lay off up to 1,000 employees working in the neutral zone between Saudi Arabia and Kuwait, as a dispute between those countries has halted all work on oil fields for several months, according to people familiar with the matter.

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) reported net income attributable to controlling interest of $321 million, $0.88 per diluted share, for the three months ended September 30, 2015. Third quarter 2015 results included net favorable items of $5 million, $0.01 per diluted share, as follows: - $8 million, $0.02 per diluted share, in discrete tax benefits; - $7 million, $0.02 per diluted share, in net gains on early debt retirements; and - $5 million associated with discontinued operations and asset disposal gains.

The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers.

“Russia plays a central role in the question of how we Europeans can secure our energy supply,” Schroeder, whose friendship with Russian President Vladimir Putin has been controversial in Germany, said at the Nov. 9 event. “Norway and Russia are the most secure and reliable energy partners for Europe.”

- Production averaged approximately 667,000 boe per day, an increase of 3% year over year, adjusted for asset sales - Adjusted net loss of $0.05 per fully diluted share and adjusted ebitda of $560 million - 2015 total production guidance increased to 670 – 680 mboe per day - 2015 production expense and general and administrative expense guidance lowered significantly - 2015 capital guidance reduced to $3.4 – $3.9 billion

The regulators gave a negative classification to $372.6 billion out of $3.9 trillion in loans impacted by the review, or 9.5 percent of the loans. Classified loans increased 9.4 percent from a year ago.