The president’s economic address at Northwestern University celebrated the results of America’s energy revolution but omitted key steps forward, according to API President and CEO Jack Gerard.

Kuwait Petroleum International has cancelled a planned $1.4 billion investment in its 88,000 barrel per day (bpd) Rotterdam refinery and may sell it, a spokesman said, as Europe's refiners struggle with overcapacity and global competition.

Russia may be slow to react to economic issues because Putin is preoccupied with foreign policy and Medvedev, a former corporate lawyer, has become indecisive, two officials said.

Russia's Rosneft Offers Stake in an Oilfield to ONGC Videsh

Despite European Union calls for member states to curb ties with Russia over its aggression toward Ukraine, Finland looks set for closer links with Moscow in energy.

Ukraine national natural gas company Naftogaz said on Friday it has signed an agreement with Norwegian energy company Statoil ASA to deliver gas to Ukraine.

Gazprom Neft continues independent studies of shale oil deposits

Lawyers for BP have called for a retrial or a revised judgment after spotting what they believe to be a legal mistake in the court ruling last month that the company acted with gross negligence in the 2010 Deepwater Horizon disaster.

Oil production in Russia increased by almost 0.9 percent month-on-month in September to 10.61 million barrels per day (bpd) largely because of increased output at joint ventures with foreign majors, Energy Ministry data showed on Thursday.

Russia cut natural gas supplies to European Union member Slovakia by 50% Wednesday, Moscow's latest and most significant reduction in energy supplies to an EU country that is helping Ukraine build gas supplies ahead of winter.

A cat and mouse game is on between Europe and Russia over gas supplies as the continent switches into the winter heating season.

What does the energy future hold for Europe amid the Ukraine crisis? Can the US LNG and shale gas become alternative for the Russian Gazprom gas in Europe? Is Russia to play the Gazprom card on the continent during the approaching heating season?

It was agreed to load Blue Stream with Russian natural gas to full capacity as soon as possible in order to satisfy the growing demand of Turkish consumers.

The EU’s long term goal regarding energy security is to become independent from one single gas supplier, increasing competition by having diverse energy suppliers. For these reasons, the EU promotes the Southern Gas Corridor, a strategically important gas value-chain passing through Azerbaijan, Georgia, Turkey, Greece, and Albania, linking Caspian gas to Europe.

U.S. oil exports are set to surpass a record held since 1957 as traders find ways around a four-decade ban on supplies leaving the country.