“The regional potential is being realised, and the Israeli gas discoveries look to play a key role in shaping the regional energy market,” said Yossi Abu, chief executive of Delek Drilling, in a statement announcing the Egyptian agreement. “The deal with Dolphinus is further proof of the political and economic benefits that may be derived through regional co-operation between states and energy companies.”

Rosneft received advance payments for oil supplies worth more than $15bn in the third quarter — the first large-scale financing that the state-controlled Russian group has secured since western sanctions were imposed upon it.

The government hopes international companies will commit at least $100 billion that Iran says it needs to boost oil-production capacity by more than 1 million barrels a day.

Britain's oil and gas sector has lost over 5,000 jobs since late 2014 as a slump in oil prices has severely squeezed oil companies' budgets and led to project cancellations.

"We highly value our interaction within consultations on the situation in the oil market between OPEC and leading non-OPEC producers," Novak said.

"Indonesia is an important country for Saudi Arabia, a rising global economy, we would like to be a part of the growth of Indonesia," Saudi Aramco CEO Amin H Al-Nasser said at the signing of the initial agreement to upgrade the Cilacap refinery in Indonesia's Central Java province.

The development of economic relations starting with the so-called suitcase trading of the early 1990s when Russian and Turkish tourists began to visit each other’s country, engaging in cross-border commerce, and ending with complex investment project such as Russia’s planned Akkuyu nuclear power plant in Turkey contributed to the softening of those rivalries.

India's production will tail off due to limited resources and relatively high costs for new projects, leading to more imports as economic growth picks up speed.

“We are interested to come back to Iran when the sanctions are lifted and if the contracts are interesting,” Stephane Michel, Total’s head of exploration and production in the Middle East said at the conference. “We have worked in this country for a long time, so we know specific fields on which we’ve worked.”

In its Energy Demand Forecast, the institute said the country's jet fuel demand is expected to increase 5.5% on year to 36.2 million barrels next year, compared with 34.4 million barrels estimated for this year.

The joint venture between Rosneft and BP based on Taas-Yuryakh Neftegazodobycha LLC will continue further development of the Srednebotuobinskoye oil and gas condensate field which is one of the largest fields in the Eastern Siberia. The JV will also undertake the development of suitable infrastructure for further exploration and development of the region’s reserves.

LUKOIL EBITDA REACHED $10.5 BILLION IN THE NINE MONTHS OF 2015, LIQUID HYDROCARBONS PRODUCTION INCREASED BY 3.9%. FREE CASH FLOW REACHED $2.0 BILLION

U.S. oil production decreased on 259,000 barrels per day

“Relatively low gas prices, combined with low oil prices, have slowed drilling in the Marcellus (Shale) so production from new wells is only offsetting the decline in old wells,” said EIA lead upstream analyst Dana Van Wagener.

Depressed oil prices are likely to linger longer as analysts dropped their predictions further for next year, according to a Reuters poll, assuming OPEC will not cut output when it meets on Friday.

"I will defend the position for the construction of Nord Stream II and (a) gas hub in Bulgaria - it is advantageous for the country and nobody can reproach me for that," Borisov told reporters.

В ходе обсуждения европейских инфраструктурных проектов Панагиотис Скурлетис заявил, что греческая сторона не подписывала обращение министров ряда европейских стран относительно проекта третьей и четвертой ниток газопровода «Северный поток – 2», которое было направлено в адрес Еврокомиссии в конце ноября.

В 2015 году спрос французских потребителей на российский газ активно растет. За 11 месяцев «Газпром» экспортировал в республику 8,7 млрд куб. м газа. Это почти на 32% больше, чем за аналогичный период 2014 года (6,6 млрд куб. м).

“The latest leg down in activity has led us to again evaluate our staffing levels against expected activity. Following which, we will further right-size the organization based on the activity outlook for 2016,” said Patrick Schorn, Schlumberger’s president of operations, at a speech on Tuesday in New York.

Gazprom has already spent €1.8bn on purchasing physical pipe for the first and second “strings” - or lines, of pipe to be laid under the Black Sea. Pipe, delivered by Germany’s Europipe and Russia’s United Metallurgical Company (OMK) under the first string contract, signed in January 2014, is now largely stashed on the wharves of the Bulgarian port of Varna. The fate of pipe ordered for the second string, under contracts placed in March 2014, is not known.