Analysts estimate that between 15 and 20 percent of 2016 U.S. oil production is hedged, and as little as 2 percent for 2017.

Brent crude, the global oil benchmark, rose 2.2% to $41.23 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 2.7% at $39.50 a barrel.

Rosneft said on Wednesday it had signed a binding agreement to sell a 29.9 per cent interest in its Taas-Yuriakh subsidiary, which operates one of the largest oil and gasfields in eastern Siberia, to a consortium of three Indian companies: Oil India, Indian Oil and Bharat Petroresources.

Central to Russia’s priorities is maintaining stable energy supplies both internally and to its external markets and customers. This goes hand-in-hand with energy security, availability and affordability and of course to ensure stability of demand. The 2030 target is to maintain a 10% share of global oil trade and 20% of natural gas.

По результатам переговоров обе страны подтвердили намерение укреплять двустороннее сотрудничество в сфере энергетики, в том числе в области поставок сжиженного природного газа (СПГ), создания газовой инфраструктуры, разведки углеводородов, строительства и эксплуатации средств электрогенерации, а также возобновляемых энергоресурсов.

OAO NOVATEK announced the closing of a transaction to sell a 9.9% equity stake in the Yamal LNG project (“Project”) to China’s Silk Road Fund (“SRF”) for a payment amounting to EUR 1,087 million.

Saudi Aramco, through its wholly owned Saudi Refining Inc. (SRI), and Royal Dutch Shell, through its US downstream affiliate, agreed on Thursday to divide the assets of its 50:50 joint venture Motiva Enterprises.

The Central Government of the People's Republic of China (PRC), as part of the country's 13th Five-Year Plan, has implemented a 50% increase, from $0.87 per thousand cubic feet (Mcf) to $1.31/Mcf, in the level of cash subsidy to be paid per Mcf paid for coalbed methane (CBM) produced, according to Green Dragon Gas Ltd., one of the largest independent companies involved in the production and sale of CBM gas in China.

Israel and Russia are about to agree upon a modus operandi in the East Mediterranean concerning weapons and natural gas deals, several Israeli media reports indicate. According to various assessments, the bottom line of such an agreement would be that Israel will not sell natural gas to Turkey and, in return, Russia won't supply S-300 anti-aircraft missiles and other advanced weapon systems to Iran and other regional enemies of Israel.

U.S. Rig Count is down 4 rigs from last week to 476, with oil rigs up 1 to 387, and gas rigs down 5 to 89. Canadian Rig Count is down 29 rigs from last week to 69, with oil rigs down 16 to 12, and gas rigs down 13 to 57.

The deal will give Calgary-based TransCanada a strategic position in the Marcellus and Utica shales of Pennsylvania, Ohio and West Virginia, the most promising regions in the US for gas production growth.

The first export is a significant milestone for the Gorgon project, which has been hit by delays and a jump in costs since construction started, as it begins generating revenue for Chevron and its partners.

The total US rig count, which on Friday stood at 476, is now at its lowest point ever in the 67-year history of the Baker Hughes numbers, according to data released by the oilfield service company.

Goods exports decreased to $1,513.5 billion from $1,632.6 billion, the first decrease since 2009. The largest decrease—which accounted for more than two-thirds of the total decrease in goods exports—was in industrial supplies and materials. The decrease was mainly due to a decrease in petroleum and products.

The average price of a gallon of gasoline in the United States gained nearly 25 cents in the past four weeks, according to a survey released on Sunday.

In November 2011, Iraq signed a $17 billion deal to form a joint venture to gather, process and market gas from three oil fields in the oil-rich province of Basra. The fields are the 17.8 billion-barrel Rumaila, the 4.1 billion barrel Zubair field and the 8.6 billion barrel West Qurna Stage 1.

“The US has sought to work with Europe to lessen Europe's dependence on Russian energy and, particularly, gas supplies to weaken Russian leverage to use that gas supply for political purposes and has enjoyed some success, and this has been a cooperative venture. Three administrations working in the same direction, many of the same assumptions and people.”

This supply growth, with ebbs and flows, is likely to continue. The Russian medium- to long-term optimism is that gas will be a growth fuel – a clean, adaptable C02-light fuel that could replace coal across the world into the 2020s.

Eni expects 1.6 billion boe in oil and gas discoveries during the period while maintaining average exploration spending in line with 2015 levels. Notwithstanding an 18% reduction in overall upstream capex, cumulative production growth of 13% to 2019 is expected.

The project includes the ongoing construction of a new ethylene cracker and ethylene derivatives units, which will increase ethylene capacity by more than 1 million tonnes of per year, about double the current capacity. It will also include a styrene monomer and propylene oxide (SMPO) plant, which will be the largest such plant ever built in China.