OAO NOVATEK announced today the signing of binding definitive agreements as part of a transaction for selling an equity stake in the Yamal LNG project to China’s Silk Road Fund (“SRF”).

The push into Asia comes at a pivotal moment in Saudi Arabia. With oil revenue falling, the kingdom is tightening its belt just as a new king ventures away from the kingdom’s traditionally conservative diplomacy. The International Monetary Fund predicts a budget deficit exceeding 20 percent of economic output this year.

"First of all, our policy calls for maintaining production at 525-530 million tonnes (a year), according to our energy strategy"

Saudi Aramco, the kingdom's state oil giant, is seeking to borrow $4.7 billion from banks to refinance capital used to build a refinery in collaboration with China's Sinopec, three sources with knowledge of the matter said on Tuesday.

Any change in U.S. oil policy will have “zero” impact on the market because the country remains an importer, OPEC Secretary-General Abdalla El-Badri said Tuesday.

The United States has estimated Islamic State was selling as much as $40 million a month of oil, which was then spirited on trucks across the battle lines of the Syrian civil war and sometimes farther.

Indonesia wouldn’t try to block an OPEC decision to throttle back output “as long as we wouldn’t get cut,” the country’s OPEC Governor Widhyawan Prawiraatmadja said in an interview in Jakarta on Tuesday. “We are new, we like to listen, to observe,” he said, adding he didn’t know what price level would trigger an extraordinary OPEC meet.

Suncor Energy today announced that it is sending a letter to shareholders of Canadian Oil Sands Limited ("COS"). The letter outlines the value of Suncor's offer to purchase all of the shares of COS against the poor performance and track record of COS and what Suncor believes are the severe risks facing COS as an independent company both now and in the future. Suncor strongly encourages COS shareholders to tender to its offer.

Brent LCOc1, the global benchmark, was at $37.74 at 0440 GMT, down 18 cents from its last settlement after rising slightly earlier on Tuesday.

Международное рейтинговое агентство Moody's ухудшило свой прогноз по цене нефти марки Brent в 2016 году до 43 долларов за баррель с ожидавшихся ранее 53 долларов за баррель в связи с тем, что высокий уровень добычи нефти значительно превысил рост ее потребления.

The situation is complicated further by ISIS operating largely on a cash basis, making it difficult to impose sanctions, the witnesses said. Financial pressure could be applied on entities and governments in adjacent countries that do business with the group.

Natural-gas prices plunged to a 14-year low, as the warmest start to winter on record in the U.S. saps demand for the heating fuel and deals another blow to struggling energy companies.

Turkmenistan on Sunday began building its segment of a natural gas pipeline to Afghanistan, Pakistan and India (TAPI), a $10 billion project designed to ease its dependence on Russia and China.

Shell is consulting experts and commercial partners about what to do with the reinforced concrete base structures, each of which rises 160m from the seabed and weighs about 300,000 tonnes. The low oil price has put companies under pressure to shut facilities as cheaply as possible.

Royal Dutch Shell Plc said it would cut about 2,800 jobs to meet a pledge of reducing operating costs by $3.5 billion following its takeover of BG Group Plc.