Turkey and Greece are back under the spotlight as Russia’s Gazprom restated the importance of Turkish Stream for Greece’s energy security, while the Turkish Cypriot and Greek Cypriot leaders openly referred to the opportunity of resuming negotiations about the future of the Mediterranean island.

Talks between the P5+1 nations and Iran have failed to reach a conclusive outcome by the self-imposed 31st March deadline. The P5+1 nations and Iran have extended talks for a further 24 hours, in the hope that an outline agreement over Iran’s nuclear programme could be reached.

Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries (OPEC), excluding Iran, will earn about $700 billion in revenue from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.

With Saudi Arabia reluctant to cut production, crude oil prices over the next decade depend greatly on producers’ costs, says a veteran observer of oil markets and the Middle East.

Chinese oil and Gas companies have expressed keen interest to make contribution in the oil and Gas sector of Pakistan to cater the growing demand of the country.

Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, signed two Production Sharing Contracts (PSC) for offshore blocks MD-02 and MD-04.

France’s Total is seeking arbitration for a tax dispute with the Ugandan government tied to the company’s acquisition of stakes in three exploration blocks.

Despite the recent Memorandum of Understanding (MoU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating Liquefied Natural Gas (LNG) projects in Russia.

Exxon Mobil Corporation began production in the deepwater Gulf of Mexico at Hadrian South with facilities tied back to the nearby Lucius project, reducing additional infrastructure requirements.

The prospect of a return to $100-a-barrel crude is tempting some to bet against the bearish consensus in the oil market.

Despite a 50 percent slide in crude prices since last summer, U.S. shale oil producers are enjoying remarkably easy access to capital markets and this will allow them to avoid getting squeezed when banks reset their loans in April.

In a keynote speech to attendees of the 2015 Coiled Tubing & Well Intervention Conference & Exhibition, Richard B. Spears, an oil field services market researcher, says the worst may be yet to come for that market, but a partial recovery also could come sooner than expected.

ConocoPhillips is among energy companies considering asset sales amid depressed oil prices, as it markets gas-producing properties that account for about 20% of its production in Western Canada. Whiting Petroleum has hired a bank to explore a sale of the company, people familiar with the matter said last week. The company is selling oil and gas processing assets in North Dakota, Bloomberg News reported in February.

U.S. crude oil production (including lease condensate) increased during 2014 by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d, the largest volume increase since recordkeeping began in 1900. On a percentage basis, output in 2014 increased by 16.2%, the highest growth rate since 1940. Most of the increase during 2014 came from tight oil plays in North Dakota, Texas, and New Mexico where hydraulic fracturing and horizontal drilling were used to produce oil from shale formations.

The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study submitted Friday.