“I want to create a world class investment case for Shell and our shareholders.”

"Growth is expected to rebound in 2016, supported by exchange rate depreciation and accommodative monetary and fiscal policies, but uncertainty about oil prices, challenges in sustaining the global recovery, and elevated domestic vulnerabilities suggest risks to the outlook are tilted to the downside," the IMF said.

“There are still no fundamental factors for growth in oil prices,” Siluanov said. “We should plan our financial resources on that basis.”

As many as 120,000 oil workers will have lost their jobs in Britain by the end of the year compared to mid-2014 when oil prices started declining and unleashed sector-wide cost cuts, the industry's lobby group said on Friday.

Tesco Corporation (the "Company") (NASDAQ: TESO) today announced that it has priced its underwritten public offering of 7,000,000 common shares of the Company at a price to the public of $7.00 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares at the offering price (less the underwriting discounts). The Company expects to close the sale of the common shares on June 14, 2016, subject to customary closing conditions.

We expect to see robust demand for oil and gas for decades to come, in a global energy system in a long-term transition to lower carbon fuels. As well as low oil prices today, we are seeing higher levels of price volatility, due to geopolitical change, the speed of information flows, and the pace of innovation in our sector.

"The Council of Economic and Development Affairs has approved the final draft of the National Transformation Plan, which is one of the plans adopted and part of the 2030 vision, which was launched and adopted by the Saudi deputy crown prince, president of CEDA,"

Banks are increasingly requiring U.S. oil and gas companies to maintain minimum levels of liquidity, an unusual step that could help reduce the risk of being exposed to companies struggling to maintain operations and repay debt.

Russia’s crude production continuing to grow this year by around 100,000 b/d or even slightly above this figure. The growth is supported by investments made in previous years.

The aggregate net debt of the 15 largest North American and European oil groups rose to $383bn at the end of March, up $97bn from 12 months ago.

The average price of LNG shipments into the country was about $6.32 per million British thermal units in April, the least since August 2005, according to Bloomberg calculations based on preliminary data from the Ministry of Finance. Prices are expected to rebound in coming months as crude values have surged, according to Junzo Tamamizu, managing partner at Clavis Energy Partners LLC.

Saudi Arabia’s debt plans come as falling oil prices encourage other Gulf countries, including Abu Dhabi and Oman, to turn to capital markets for funding, setting a new record for borrowing by Middle Eastern governments so far in 2016. This week, Qatar said it was looking to tap dollar bond markets for the first time in five years.

Oil Search Ltd. has moved to consolidate natural-gas developments on Papua New Guinea with a US$2.2 billion deal to buy U.S.-listed midsize energy company InterOil Corp amid a growing natural gas glut.

The US officials gave a positive assessment of Ukraine's sourcing of gas from Europe and the ongoing reform at Naftogaz and Ukraine’s gas market. They also commended the implementation of the corporate governance reform, which was based on OECD principles for state-owned enterprises.

"[Oil’s recent rise] is not enough," said Dicker. "You can’t find the financing to keep the lights on at $50 oil. Most of these guys won’t be able to keep the lights on at $65 or $70 oil."