Revenue for the first quarter of 2015 was $4.6 billion, down 20% compared to the first quarter of 2014.

Baker Hughes Inc (BHI.N), which is being bought by Halliburton Co (HAL.N) for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services.

North Dakota Democrats are predicting a “nightmare scenario” for future state revenues if the Republican-led Legislature radically restructures oil taxes as a hedge against falling crude prices.

Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters.

The US should remove the national interest demonstration requirement for LNG exports to countries with which it does not have a free-trade agreement before it loses one of its biggest energy and economic opportunities in its history, anExxonMobil Corp. executive said.

Oil services company Weatherford International Plc increased the total number of employees it is looking to lay off in 2015 to 10,000 as it copes with the fall in oil prices.

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.

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.

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.

ConocoPhillips, the third-largest U.S. oil producer, is exploring the sale of some its North Sea assets in Norway as it seeks to divest overseas operations, two people with knowledge of the matter said.

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

Weatherford International raised its layoff target to 10,000 positions on Thursday after booking an over 50 percent income drop in the first quarter.

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).

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

If there was one thing guaranteed to follow low oil prices (other than the loss of thousands of jobs) it was mergers and acquisitions. This has certainly rung true as companies consolidate their portfolios or use their war chests to snap up competitors while prices are down. The recent deal between Royal Dutch Shell and BG Group has many expecting a renewed wave of major business decisions. The buzz has fueled rumors that BP Plc will be susceptible to a takeover by fellow oil giant Exxon Mobil Corp.

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.

Brent crude futures have risen 45 percent. If that is sustained or even increased throughout this year, inflation next year could rise significantly, posing questions for policymakers largely committed to ultra-loose policy.

Fair and stable oil prices will benefit producers and consumers, allowing global supply and demand to grow at a steady pace, Saudi Arabia's Oil Minister Ali al-Naimi said on Tuesday.

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