Rosneft and Chinese National Petroleum Corporation (CNPC) signed an agreement for the extensions of strategic cooperation.

Two of OPEC’s biggest members say they won’t immediately reduce oil production to offset tumbling prices, a signal the group is unlikely to heed Venezuelan calls for an emergency meeting.

After this summer’s war in Gaza battered Israel’s international reputation, the country’s leaders say they have a new foreign policy tool to build relations with its neighbors: natural gas.

Statoil ASA (STL), Norway’s biggest energy company, will sell its 15.5 percent stake in the Shah Deniz field in Azerbaijan to Malaysia’s Petroliam Nasional Bhd for $2.25 billion as it seeks to reduce investment and prioritize high-value projects.

Petrochemical firm Ineos has bought a second licence for shale gas exploration and development in central Scotland.

Russian oil giant OAO Rosneft is devising a legal strategy to fight Western sanctions in European courts, according to people familiar with the strategy—a tactic modeled on the so-far successful legal campaign waged by Iran’s Bank Mellat.

Rospan International (Rosneft subsidiary) carried out a record hydrofracturing at the Urengoiskoe field, which resulted in the 9 times increase of production rate.

OAO Gazprom said profit for the first half of the year fell by almost one-quarter as Ukraine's Naftogaz didn't pay for gas supplied by the Russian state-controlled gas group.

Norwegian oil company Statoil ASA ( STO ) said Tuesday that with its partner ExxonMobil Corp. ( XOM ) it has discovered 1.2 trillion cubic feet of natural gas, or 216 million barrels of oil equivalent, in the Giligiliani-1 well offshore Tanzania, the joint venture's seventh discovery in the block 2 area.

The IEA Oil Market Report (OMR) for October reduced its forecast of global oil demand for 2014 by 0.2 million barrels per day (mb/d) from the previous month, to 92.4 mb/d, on lower expectations of economic growth and the weak recent trend. Annual demand growth for 2014 is now projected at 0.7 mb/d, rising tentatively to 1.1 mb/d in 2015 as the macroeconomic backdrop improves.

Increasing access to modern forms of energy is crucial to unlocking faster economic and social development in sub‑Saharan Africa, according to the International Energy Agency’s (IEA) Africa Energy Outlook, a Special Report in the 2014 World Energy Outlook series.

OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. As producers become more efficient, that floor is sinking.

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Russia has proposed to Tokyo building a natural gas pipeline connecting fields in its far east with northern Japan, the Nikkei newspaper reported on Wednesday.

Oil prices posted their biggest one-day drop in nearly two years Tuesday as a U.S.-led wave of crude has crashed into weak global demand, threatening the stability of some countries and providing an economic lifeline to others.

As the European calls for diversification away from Russian sources of natural gas continue in the wake of the Ukraine crisis, a just released study from The Brookings Institution shows that the European Union is likely to be using a lot of Russian gas even by the year 2040.

Bank of America Corp. and BNP Paribas SA predict prices will hold above $80 a barrel. Commerzbank AG also sees that level as a possible low for Brent crude. They’re in part counting on OPEC cutting output -- some say as soon as next month -- to compensate for recent declines in demand.

Europe’s natural gas supply mix likely won’t change much without drastic policy interventions despite recent renewed concern over instability in Ukraine, a new Brookings Institution policy brief concluded. This effectively will ensure a continuing significant market share for Russia, it said.

South African President Jacob Zuma outlined ambitious plans on Wednesday for oil andgas exploration in coastal waters that he said could contain as much as 9 billion barrels of crude and vast quantities of natural gas.

BG Group Plc (BG/) appointed Statoil ASA (STL)’s Helge Lund as chief executive officer, ending a leadership crisis at the U.K.’s third-largest oil and gas producer.