Ukraine is facing existential challenges, and energy security is one of them. The country is dependent on Russia supplying most of its natural gas as well as uranium fuel for its nuclear reactors. Under these very difficult circumstances, a government with a holistic view of its strategic security and energy goals would logically develop a policy aimed at encouraging increased domestic oil and gas production. Unfortunately, Kyiv is doing the opposite.

Moscow and Beijing will sign an agreement on the pipeline shipping gas from Western Siberia to China by the end of the year, Foreign Minister Wang Yi said on Monday, adding that his government will intensify trade ties with Russia in the coming months.

Chevron Corporation executives, at the company's annual security analyst meeting in New York, expressed confidence in the long-term energy business and highlighted its growth outlook through 2017. At the same time, company executives outlined near-term actions to address the recent decline in commodity prices.

UK oil and gas companies expect to create thousands of jobs over the next two years despite the dramatic slide in oil prices.

Not long ago, oil looked like a black gold mine for General Electric. The company known for toaster ovens and lightbulbs wrapped up a three-year, $10 billion buying spree in 2013 to bolster the growing oil and gas equipment unit that helped GE recover from the financial crisis. The company bulked up with the expectation that crude prices would remain at about $100 a barrel for years.

As most of Russia’s energy exports go to the European Union, both players are strongly interdependent. For Russia, energy resources, especially gas, are viewed as a tool to project power beyond its borders.

The US drilling rig count plunged 67 units—64 on land and 56 targeting oil—to settle at 1,125 rigs working during the week ended Mar. 13, according to data from Baker Hughes Inc.

Nexen Energy ULC, a wholly owned subsidiary of CNOOC Ltd., has reported organizational changes that will result in the reduction of 340 jobs in North America and 60 jobs in the UK, spurred by the decline in crude oil prices.

LUKOIL closed a transaction to enter a project to develop the Etinde block offshore the Republic of Cameroon in the Gulf of Guinea (West Africa).

Steady climb in global demand growth prompts slight upward revision of 2015 forecast.

Removing U.S. oil ban would create jobs beyond drilling

The Fallout from Lower Oil Prices

As the West tightened its grip on Russia with sanctions, particularly in energy, following the annexation of Crimea last year, the European Union is trying to expand its cooperation to counter Russia's dominant position in energy sector.

Iran has launched the main phase of the offshore South Pars gas field. President Hassan Rouhani, who attended the ceremony for the Phase 12, said that it is the country’s biggest gas industry project.

Russian billionaire Mikhail Fridman is preparing to sell a dozen North Sea gasfields at the heart of a fierce row over ownership, in a move that would avert a high-profile legal battle with the UK government.

Talisman Energy Inc., the Canadian energy firm being taken over by Spain’s Respol SA, has joined an expanding list of oil-and-gas producers who are cutting jobs and shaving capital budgets as oil prices continue to slump.

Saudi Aramco will increase its spending on research and development in 2015, despite the falling price of oil.

Lifting the longstanding ban on U.S. crude oil exports would boost the country’s economy and enhance its global leadership, a former senior Obama administration official will tell senators on Thursday, introducing a strategic dimension to the growing debate over selling American oil abroad.

The level of interest in new oil and gas exploration in the Gulf of Mexico is slowing due to the low price of oil, but federal regulators said they remain optimistic about the future of offshore drilling.

Taking advantage of lower oil prices, India will next month begin filling up its maiden strategic oil reserves to insulate itself from supply disruptions.