According to a recent report from Swift Worldwide Resources, over 150,000 jobs in the global oil and gas industry have been cut since oil prices began to tumble last summer.
Real gross domestic product -- the value of the production of goods and services in the United States, adjusted for price changes -- decreased at an annual rate of 0.2 percent in the first quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.
States are attempting to get their hands on long-term gas supply contracts with the Russian natural gas exporter Gazprom and pave the way for a multi-commodity energy supplier business where they can influence end-user prices directly.
U.S. was keeping the European Union countries on a 'short leash' by forcing them to impose anti-Russia sanctions.
“Natural gas is a flexible, it's supply is abundant and diverse, its ranges of use are still expanding, it's supply is abundant and diverse, it's low carbon, clean burning, an ally to renewables such as solar and wind, and it makes economic sense.”
Russia could not provide Ukraine with the gas price discount it once had, days before new gas talks between Russia, Ukraine and the European Union.
Iran produces about 2.7m barrels of oil a day. But a report by Wood Mackenzie, the energy consultancy, to be published on Thursday, says that it could add 600,000 b/d of crude production by the end of 2017, assuming that it strikes a nuclear deal with the US and EU that lifts sanctions.
Kuwait's oil minister said on Tuesday he expected oil prices to continue rising, predicting gains in the final quarter of 2015 on the back of global growth.
The 13th Moscow International Oil and Gas Exhibition, MIOGE 2015, opened in Expocenter under the sunshine on the banks of the Moscow River in the Russian capital.
Pro-development policies could increase cumulative local, state, and federal government revenue by over $1 trillion and lower average annual household energy expenses by $360 by 2035, according to the study. A path of regulatory constraints would lead to a cumulative decrease of $500 billion in government revenue from 2016 to 2035 and an increase of $242 in average annual household energy costs.