As the world’s oil producers wring their hands over a global glut that’s pushing down prices, evidence is mounting that Saudi Arabia is more concerned about shrinking demand.

Saudi Arabia won’t balance global crude markets on its own even as prices fall “too low for everybody” and threaten the investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said.

Energy Transfer Partners LP (ETP) and Regency Energy Partners have agreed to merge in a unit-for-unit transaction, plus a one-time cash payment to Regency unit holders, valued at $18 billion, including the assumption of net debt and other liabilities of $6.8 billion.

Currency depreciation against the dollar affects oil importers and exporters differently

The world’s biggest energy companies are preparing to cut tens of billions of dollars from capital spending as they set out plans this week to respond to the drastic slide in oil prices.

Total U.S. petroleum deliveries (a measure of demand) rose last month by 5.1 percent from December 2013 to average nearly 20.0 million barrels per day. For the fourth quarter, total domestic petroleum deliveries gained 2.9 percent compared to the same period in 2013.

The US drilling rig count fell 43 units to settle at 1,633 rigs working during the week ended Jan. 23, Baker Hughes Inc. reported.

Iran's oil minister is expressing hope that the OPEC oil cartel will begin cutting production in order to shore up plunging oil prices.

An unparalleled technology to cut greenhouse gas emissions through carbon dioxide capture is being developed on a demonstration scale at Petrobras’ Shale Industrialization Facility (known as SIX) in Paraná, in partnership with the company’s Cenpes research center.

Warming ties between China and Russia are giving a big boost to Chinese imports of Russian oil, to the chagrin of OPEC nations jockeying for a slice of China’s market.

Russia is starting to see a wave of mass layoffs as a result of the plunging economy and needs to rethink where and how fast it spends its reserves, former finance minister Alexei Kudrin said.

Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said

Russia’s second-largest oil producer Lukoil aims at stabilizing its oil output this year, the company’s CEO Vagit Alekperov said on the sidelines of the World Economic Forum in Davos, Switzerland. “Lukoil aims at stabilizing output throughout Russia in 2015,” Alekperov said.

Компания Группы «Газпром» Gazprom Marketing & Trading Singapore и компания Yamal Trade подписали долгосрочный договор купли-продажи сжиженного природного газа (СПГ) с проекта «Ямал СПГ».

ЛУКОЙЛ приступил к снабжению цилиндровыми маслами нового поколения LUKOIL NAVIGO 100 MCL крупнейшего контейнеровоза в мире - MSC OSCAR, пополнившего флот компании Mediterranean Shipping Company (MSC) в этом году. Судно единовременно вмещает рекордное число контейнеров - 19 224. Оно оснащено топливосберегающими двигателями, в которых и будут эксплуатироваться современные масла ЛУКОЙЛ.