Shares in Vladimir Yevtushenkov’s Sistema Group fell more than 35 per cent this week, amid growing concern that Russian investigators will try to reclaim Rbs140bn ($2.7bn) in dividends that the group has received from its oil company Bashneft .

Gazprom, the state gas company, has been at the forefront of Moscow’s push to expand its influence into the Balkans – a region beset with economic and political difficulties.

Schlumberger , the world’s largest oil services group, is cutting back its fleet for offshore geological surveys and taking an $800m writedown on the value of its ships, in the first significant cutback in the industry following the recent fall in crude prices.

Norway’s oil fund can carry on investing in oil.

After the failure of its risky exploration strategy this year, Norwegian oil firm Statoil is cutting costs as fast and deep as it can to preserve cash for dividends

Total and Rosneft signed a Term Sheet that envisages the main terms and conditions of the purchase of 16.67% share in a refinery located in Schwedt, Germany (PCK Raffinerie GmbH). The document was signed in Sochi by the Head of Rosneft Igor Sechin and Chief Executive Officer of Total Patrick Pouyanne.

The Blue Stream gas pipeline is important for ensuring stable gas supplies to Turkey. For instance, around 110 billion cubic meters of gas have been conveyed via Blue Stream since the start of commercial gas deliveries. The meeting participants stressed that Russian gas exports via that route were gradually increasing, and this upward trend could continue. In this regard, the parties confirmed their mutual intention to expand Blue Stream's capacity by 3 billion cubic meters.

With a sustained price drop to $60 a barrel, North American shale drilling would be especially challenged in emerging fields such as some in Ohio and Louisiana, where costs are at the highest early in development, according to Citigroup and ITG.

Saudi Arabia and its OPEC allies’ firm stand against cutting crude output to slow the plunge in oil prices has set the energy world on a painful course that will leave the weakest behind, from governments to U.S. wildcatters.

Opec threw down the gauntlet to US shale oil producers by deciding not to cut its production, in a move that sent the oil price tumbling by more than 8 per cent to a four-year low.

Shares in the world’s biggest energy groups have tumbled in a market rout as plunging oil prices put at risk billions of dollars of investment and jeopardised future supplies of crude.

Battered by sanctions and oil’s accelerating price crash, OAO Rosneft (ROSN) has lost 38 percent of its market value this year in dollar terms and today the whole company, TNK-BP and all, is worth $50 billion.

Europe must wean itself off Russian gas and look to places like the Caspian Sea or the Middle East for alternative supplies, as the conflict in Ukraine underscores the importance of energy independence

US Vice-President Joe Biden claimed Russia is using energy as 'a weapon' and urged European countries to diversify sources for the purposes of energy security.

Gazprom and Eni address prospects for enhancing bilateral cooperation