Energy Minister Taner Yıldız claimed the allegation regarding the 10.25 percent discount agreement reached with Russian state-owned energy giant Gazprom was not real.

The level of interest in new oil and gas exploration in the Gulf of Mexico is slowing due to the low price of oil, but federal regulators said they remain optimistic about the future of offshore drilling.

Russian billionaire Mikhail Fridman is preparing to sell a dozen North Sea gasfields at the heart of a fierce row over ownership, in a move that would avert a high-profile legal battle with the UK government.

Deepening political divisions between Nigeria’s regions over the presidential poll and the absence of a clear front-runner increase the risk of a contested outcome and a turbulent aftermath

Taking advantage of lower oil prices, India will next month begin filling up its maiden strategic oil reserves to insulate itself from supply disruptions.

Indonesia's 2015 revenue target is "really unrealistic" and there will be a large budget shortfall that could force the government to cut spending, a World Bank economist said on Wednesday.

Saudi Aramco will increase its spending on research and development in 2015, despite the falling price of oil.

Talisman Energy Inc., the Canadian energy firm being taken over by Spain’s Respol SA, has joined an expanding list of oil-and-gas producers who are cutting jobs and shaving capital budgets as oil prices continue to slump.

Malaysia's Petroliam Nasional Bhd (Petronas) plans to use the $5 billion it raised in Asia's largest bond offering so far this year for corporate expenses as well as possible acquisitions, the company said.

The Fallout from Lower Oil Prices

Steady climb in global demand growth prompts slight upward revision of 2015 forecast.

Nexen Energy ULC, a wholly owned subsidiary of CNOOC Ltd., has reported organizational changes that will result in the reduction of 340 jobs in North America and 60 jobs in the UK, spurred by the decline in crude oil prices.

As most of Russia’s energy exports go to the European Union, both players are strongly interdependent. For Russia, energy resources, especially gas, are viewed as a tool to project power beyond its borders.

Not long ago, oil looked like a black gold mine for General Electric. The company known for toaster ovens and lightbulbs wrapped up a three-year, $10 billion buying spree in 2013 to bolster the growing oil and gas equipment unit that helped GE recover from the financial crisis. The company bulked up with the expectation that crude prices would remain at about $100 a barrel for years.

Capital spending budgets are being cut back, drilling rigs idled and staff laid off. The remarkable growth of US oil production, which brought more than 1m barrels per day of additional supply on to world markets in each of the past three years, seems likely to flatten out this year.