Gazprom has said it could shelve its Vladivostok liquefied natural gas project as the Russian state-controlled energy giant focuses on supplying more gas to China by pipeline.

French banking giant BNP Paribas SA has stopped offering letters of credit to finance commodities trades involving sanctioned Russian banks, according to people familiar with the matter—the latest fallout from tightening economic restrictions imposed by the West against Moscow.

Sanctions against the Russian Federation, more specifically in its energy section, seem to have been gradually nullified due to a counteraction by Moscow, which as of late made significant progress on several long-standing issues that have long-term effects on the global natural gas sector.

Oil prices that have plunged to a 27-month low are inflicting damage on a Russian economy already contending with escalating sanctions from the U.S. and European Union over its role in Ukraine.

Russia's No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine.

Russia may be slow to react to economic issues because Putin is preoccupied with foreign policy and Medvedev, a former corporate lawyer, has become indecisive, two officials said.

Russia's Rosneft Offers Stake in an Oilfield to ONGC Videsh

Iran won't replace Russia as top gas supplier - Tass quotes Rouhani

Despite European Union calls for member states to curb ties with Russia over its aggression toward Ukraine, Finland looks set for closer links with Moscow in energy.

One of Russia’s prized oils, facing increased competition in Asia, is traveling to a rather unlikely destination: the U.S. West Coast.

At another time or in a different place, the oil and gas field ExxonMobil has discovered in the Russian Arctic would have been a cause for jubilation at its Texas headquarters.

U.S. energy company GE will continue working in Sakhalin despite Western sanctions on Russia, the company's vice chairman John Rice told Interfax Monday.

The most powerful man in Russia’s oil industry says U.S. sanctions won’t prevent the development of discoveries in the Arctic Ocean.

The head of OAO Rosneft (ROSN) said maintaining dividends is a “sacred obligation” for Russia’s largest oil company as sanctions limit its financial flexibility.

West Texas Intermediate crude fell from the highest price in seven days as concern eased over the risk of a supply disruption in the Middle East. Brent declined in London.