Russia is the main supplier of crude oil and natural gas to the EU, and although diversifying away from Russian gas is not unrealistic in the medium term, several technical and political obstacles must be overcome.

Athens expects to agree to take part in a pipeline that would bring Russian gas to Europe via its territory, Greece's energy minister said on Friday, estimating the project would cost 2 billion euros ($2.1 billion).

Relations between Greece and Russia appear to be strengthening after Tsipras confirmed his opposition to Western sanctions on Russia. He claimed that the Greek government helped block European proposals to increase the scope of the sanctions.

A corruption investigation that has already engulfed Brazil’s state-run oil giant Petroleo Brasileiro SA has spread to the health ministry and state-owned bank Caixa Econômica Federal, authorities said Friday.

Unconventional natural gas production is proving to be more durable than many people expected, officials said as the Potential Gas Committee released its 2014 yearend report indicating that the US has a record 2,515 tcf technically recoverable gas resource base.

Глава Газпрома А.Миллер, выступая на конференции Валдайского клуба 13 апреля 2015 г, пообещал прекратить поставки газа в те страны, которые выступают против проекта строительства магистрального газопровода (МГП) Турецкий поток.

ConocoPhillips is preparing the sale of noncore oil and gas producing acreage in the United States, in the latest sign that oil majors are becoming more accepting of lower oil prices, according to people familiar with the matter.

Oil production from the fastest-growing U.S. shale plays is set to fall some 45,000 barrels per day to 4.98 million bpd in May from April, the first monthly decline in over four years, projections from the U.S. Energy Information Administration showed on Monday.

Rapid and aggressive strategic response by oil and gas companies to low oil prices has driven industry cash flow breakevens down by $20/bbl to $72/bbl, according to a recent analysis of Wood Mackenzie. If oil prices remain at current levels, further cuts would be required to achieve cash flow neutrality, WoodMac said. For some companies, this will mean selling assets, others may suspend or limit dividend and buyback programs.

The United States will transition from a net importer of natural gas to a net exporter of the fuel by 2017 as the nation’s shale gas production continues to grow, the U.S. Energy Information Administration said on Tuesday in its Annual Energy Outlook.

North Dakota’s oil production declined in February for the second consecutive month as drilling new wells slackened amid low oil prices. State regulators said Tuesday that February’s output was just short of 1.18 million barrels per day, down 50,435 daily barrels since December, which was the state’s all-time high. It was the first consecutive two-month drop since January 2011.

According to annual reports for 75 global oil and natural gas companies, oil proved reserve additions totaled 10.4 billion barrels in 2014, the lowest since 2010.

In its April Oil Market Report, the International Energy Agency raised its forecast of 2015 global oil demand by 90,000 b/d to 93.6 million b/d, a gain of 1.1 million b/d on the year and a notable acceleration of the 700,000-b/d growth in 2014, as the global economy slowly gains momentum. Colder-than-year-earlier temperatures in most Organization for Economic Cooperation and Development economies in this year’s first quarter also accounted for part of the upward revision.

U.S. show the potential to eliminate net energy imports sometime between 2020 and 2030. This reflects changes in both supply and demand, as continued growth in oil and natural gas production and the use of renewables combine with demand-side efficiencies to moderate demand growth. The United States has been a net importer of energy since the 1950s.

Nigeria’s incoming government should consider selling down its majority stakes in joint ventures with multinational oil companies to shore up state finances and raise funding for infrastructure development, according to the central bank governor.

The rebalancing of the global oil market may still be in its early stage with the outlook “only getting murkier”, according to the International Energy Agency, as uncertainties remain about demand and supply responses to the steep drop in prices.

On March 16, the presidents of Turkey, Azerbaijan and Georgia travelled to Kars in Turkey’s mountainous northeast, and then to a remote worksite near the border with Georgia, to launch construction of the 1,850km Trans-Anatolian gas pipeline (Tanap).

Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.

Russia is pushing ahead with plans to build a pipeline to Turkey and further on to Greecevia the Black Sea, in line with its plans to stop exporting gas via Ukraine by 2019.

Russia has been holding active, "unprecedented" consultations with the Organization of Petroleum Exporting Countries, a senior official said on Wednesday, a clear signal of Moscow's strive for higher oil prices.