2015

Brussels will on Wednesday accuse Russia’s Gazprom of illegal abuse of its dominant position in Europe’s gas market, unveiling antitrust charges that threaten to inflame already difficult relations with Moscow.

The UK is to force Russian billionaire Mikhail Fridman to sell a dozen North Sea gas fields owned by his $10bn energy fund L1 Energy, giving him just three months to comply or lose operating rights.

Oil services company Weatherford International Plc increased the total number of employees it is looking to lay off in 2015 to 10,000 as it copes with the fall in oil prices.

Halliburton has cut 9,000 jobs in about six months and is considering additional cost-cutting moves as falling oil prices reduce demand for its drilling help.

Revenue for the first quarter of 2015 was $4.6 billion, down 20% compared to the first quarter of 2014.

Schlumberger Announces First-Quarter 2015 Results

OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices should Iran increase its oil exports following a deal over its nuclear work, an OPEC delegate said.

OPEC boosted its production to 30.72 million barrels per day in March, the group’s highest monthly output since November 2012.

Crude oil prices for May delivery climbed for a sixth consecutive day on both New York and London markets Apr. 16, which analysts attributed to signs of a possible slowing in US oil production.

U.S. Rig Count is down 34 rigs from last week to 954, with oil rigs down 26 to 734, gas rigs down 8 to 217, and miscellaneous rigs unchanged at 3.