Gazprom has switched to the stage of building the offshore section of the Turkish Stream gas pipeline intended to bring Russian natural gas to Europe via Turkey, Gazprom CEO Alexey Miller said on Friday.

The United States, wading into the international efforts to shape Greece’s economic and geopolitical orientation, is pushing the leftist government in Athens to resist Russia’s energy overtures.

Condensate is especially important now because it’s not covered by sanctions on Russia’s oil industry that have targeted Arctic drilling and shale projects. Production of the ultra- light crude will swell as much as 17% this year, according to estimates by Gazprombank. That makes it a key factor driving growth, said Alexander Nazarov, an analyst at the country’s third biggest lender.

Occidental Petroleum Corp boosted its 2015 production forecast on Wednesday after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices. Occidental raised its 2015 output forecast by 20,000 barrels of oil equivalent per day (boe/d), citing “a more optimistic outlook for the remainder of the year.”

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 gas war between Russia and the West has been limited to the verbal so far and not seen any casualties except for the cancellation of the South Stream project.

China appointed new heads for each of its three national oil companies on Monday, in a sweeping reshuffle of the industry at the heart of its two-year anti-corruption drive.

A widening corruption probe in China has ensnared another oil executive, this time the number two man at state owned Sinopec.A widening corruption probe in China has ensnared another oil executive, this time the number two man at state owned Sinopec.

Chevron Corp. reported first-quarter earnings of $2.6 billion, down from $4.5 billion in first-quarter 2014. Sales and other operating revenues in first quarter totaled $32 billion, compared with $51 billion a year earlier.

ExxonMobil Corp. reported first-quarter earnings of $4.9 billion, down from $9.1 billion during first-quarter 2014 due in part by upstream losses in the US. The total, however, exceeded analyst expectations.

Russia’s gas giant Gazprom is ready to launch gas supplies to China via the so-called eastern corridor within 4 years, Deputy Chairman of Management Committee Alexander Medvedev said Wednesday.

In the case of Gazprom, the commission has found that the Russian energy company charges different prices across the EU. Lithuania, for instance, at times pays a third more than Germany.

Russian natural gas accounts for roughly a third of all foreign supplied natural gas coming into Europe. Russia’s biggest partner is Germany. In that state, Russia’s presence is on the upswing.

Suncor Energy Inc., Canada’s largest crude-oil producer, on Wednesday reported a first-quarter net loss and a 90% decline in operating profit as a recent slump in global oil prices offset the company’s effort to cut costs and boost production.

Eni SPA reported a first-quarter consolidated adjusted operating profit of €1.57 billion, down 55% from first-quarter 2014. The company says the decline was driven by lower crude oil prices, and only partly offset by a better performance recorded in upstream activity and in all other business segments.