Suncor Energy Inc., Canada’s largest crude-oil producer, on Wednesday reported a first-quarter net loss and a 90% decline in operating profit as a recent slump in global oil prices offset the company’s effort to cut costs and boost production.

Norway’s $916bn oil fund on Wednesday trumpeted its best-ever quarterly return, boosted by monetary stimulus in Europe that put a rocket under the region’s stock markets.

BP suffered a sharp slide in first-quarter profits, hit by the plunge in crude prices that has battered revenues across the oil industry.

OAO Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2014.

Despite challenging oil and gas prices in the quarter, Statoil (OSE:STL, NYSE:STO) delivered Adjusted earnings of NOK 22.9 billion and NOK 7.0 billion after tax. Statoil reports a negative IFRS Net income of NOK 35.4 billion due to impairments.

EIA expects the United States to be a net natural gas exporter by 2017.

China National Petroleum Corp and Sinopec, China’s top two state-owned oil companies, have denied they are considering merging to form a giant monopoly after rumours prompted both companies’ Hong Kong-listed shares to jump on Monday.

U.S. Rig Count is down 22 rigs from last week to 932, with oil rigs down 31 to 703, gas rigs up 8 to 225, and miscellaneous rigs up 1 to 4.

OAO Gazprom says antitrust allegations by the European Commission regarding territorial restrictions and an unfair pricing policy are “unsubstantiated.”

Total said it may take advantage of the slump in crude to make acquisitions that build on the strengths of Europe’s third-biggest oil company in deepwater offshore fields and liquefied natural gas (LNG).

The European Commission gave Gazprom 12 weeks to answer its Statement of Objections (SO) for alleged abuse of dominant market position in Central and Eastern European gas markets. The widely-anticipated decision triggered the enthusiasm of Ukrainian officials, raised some doubts among Russian experts and encountered strong opposition from Gazprom.

In the latest report on Croatia, the European Commission has warned that Croatian Law on the gas market does not encourage competition, and that such a situation could jeopardize further integration into the European energy market, as well as projects such as the LNG terminal on the island of Krk.

Heavily dependent on Russia for its energy needs, European trade negotiators are looking for a visible anchor to US energy supplies, writes Douglas Hengel of The German Marshall Fund of the United States.

The sixth meeting of the World Forum on Energy Regulation is scheduled to be held on May 25–28, in Istanbul, and is being organized by the office of the prime minister of the Turkish Republic. The competitive and dynamically expanding nature of the energy sector in Eurasia has been boosting Turkey’s regional importance as it prepares to take on the role of a strategically important transit and energy hub country

Iran’s natural gas production has reached 660 million cubic meters per day (mcm/d) and the country is expected to increase this volume to 760 mcm/d by next spring.