Crude oil prices on the New York market bounced up $2/bbl to settle slightly above $50/bbl Feb. 5. The positive momentum continued during early Jan. 6 trading in what has proved to be a turbulent week for oil prices.

Statoil reduces capital budget by $2 billion following 4Q losses

China’s National Development and Reform Commission (NDRC) has approved Sinopec Beijing Yanshan Petrochemical Co. Ltd., a subsidiary of China National Petroleum Corp. (Sinopec), to proceed with its plans to build a grassroots refinery in Caofeidian Industrial Zone, Tangshan, Hebei Province, China

Oil-price collapse may aggravate producing nations’ other problems

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA (Petrobras) since 2012, has resigned along with five other senior executives.

ГРУППА «ЛУКОЙЛ» ПОЛНОСТЬЮ КОМПЕНСИРОВАЛА ДОБЫЧУ ПРИРОСТОМ ДОКАЗАННЫХ ЗАПАСОВ В 2014 ГОДУ. ДОКАЗАННЫЕ ЗАПАСЫ УГЛЕВОДОРОДОВ ВЫРОСЛИ НА 1% ДО 17,6 МЛРД БАРРЕЛЕЙ НЕФТЯНОГО ЭКВИВАЛЕНТА

Never mind dropping oil prices. U.S. producers are pushing harder than ever for the right to sell U.S. crude oil overseas.

A Deloitte MarketPoint analysis suggested large-field projects, each producing more than 25,000 b/d, could bring on 1.835 million b/d in oil supply this year of which 635,000 b/d would be from members of the Organization of Petroleum Exporting Countries and the rest from non-OPEC productions.

European shipments of liquefied natural gas (LNG) are set to fall from record levels as the lowest Asian prices since 2010 remove the incentive to re-export the fuel.

European natural gas will probably extend declines as lower prices for the liquefied fuel in Asia, the biggest buying region, mean more cargoes head to Europe, according to Vattenfall AB, the Nordic region’s largest utility.

Statoil’s (OSE: STL, NYSE: STO) board of directors has appointed Eldar Sætre as new president and CEO.

The United States and Russia are once more locked in what could be a generation-defining conflict, and Europe is yet again the core battleground. But this Cold War reprise isn’t about military supremacy.

Gazprom to market Yamal-sourced LNG to Europe and South America

RUSSIA'S GAS EXPORT REORIENTATION IS A LOGICAL MOVE

Turkey's energy minister and Russia’s Gazprom chief took a helicopter ride over the Black Sea to survey a possible route of the “Turkish Stream” pipeline Saturday.

Oil tops $60 for first time in 2015, industry cutbacks support

BHI: US rig count continues 11-week dive, loses 98 more units

Halliburton says it will eliminate at least 5,000 jobs

Brent crude oil prices will average $58/bbl in 2015 and $75/bbl in 2016

EIA expects gasoline demand to increase by nearly 1% in 2015