Russia’s plan to shift the transit of EU bound natural gas to a new gas hub at the Greek-Turkish border will allow Greece will become an important factor in supplying Europe with Russian gas, according to a representative of the SYRIZA (the Coalition of the Radical Left) Party.

Bulgaria’s central role in Europe’s emerging energy picture stems from both its geography and its history. Located on the shores of the Black Sea, it was the nominal entry point for alternative natural gas pipeline projects between Russia and Europe meant to bypass Ukraine.

Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey

Kuwait’s government on Sunday announced plans to spend $155bn on projects over the next five years despite the current slump of oil prices

Eni SPA will resume exploration offshore Egypt under concession agreements based on production sharing it has signed covering two deepwater blocks offered in Egyptian Natural Gas Holding Co.’s 2013 bid round

Gazpromneft Sakhalin, a subsidiary of JSC Gazprom Neft, has been awarded subsoil-use rights to the Severo-Zapadniy block on the Pechora Sea shelf and the Heysovskiy block on the Barents Sea shelf.

Venezuela and Russia have reached an agreement to step up investment and participation of Russian companies in development of Orinoco Belt oil reserves and other projects

China's economic growth may be as high as 7.3 percent this year, partly due to falling commodity prices, the official Xinhua news agency quoted an academic advisor to the central bank's monetary policy committee as saying on Saturday.

Global equity markets rebounded, with U.S. stocks capping five straight sessions of losses. European shares rose on growing expectations of economic stimulus from the European Central Bank.

Norway’s oil revenues have been hit hard by a 50% drop in prices over the past six months and oil companies operating in Norway are set to reduce their capital expenditure by 15% on the year in 2015

The number of rigs drilling for oil in the US dropped sharply this week as plunging crude prices hit development of shale reserves, the most-watched survey of industry activity has shown.

December was the sixth consecutive month in which monthly average Brent prices decreased, falling $17/barrel (bbl) from November to a monthly average of $62/bbl, the lowest since May 2009. The December price decline reflects continued growth in U.S. tight oil production, strong global supply, and weakening outlooks for the global economy and oil demand growth.

The European Union could significantly scale back sanctions and resume discussions with Russia on issues ranging from visa-free travel; cooperation with the Moscow-led Eurasian Economic Union; and the crisis in Libya, Syria and Iraq; if Russian President Vladimir Putin moves to end the crisis in eastern Ukraine, according to an EU discussion paper.

The market consensus is that the China is buying more oil than they need in order to fill strategic reserves.

The falling oil price is a huge shot in the arm. Nonetheless, it is clear that the ECB will have to do something. There is no growth and the debt burden is too high. The world will be flying on one engine, the U.S., for quite some time.