Heavily indebted US shale companies are facing financial pressure as a result of the fall in the price of oil but may find their lenders are inclined to “go easy” on them, according to Fitch, the rating agency.

The recent sharp falls in the oil price require further adjustments to asset values around the world. Oil was in most people’s forecasts and commentaries at about $110 a barrel earlier this year, but is now selling for under $70.

Sir Ian Wood, the Aberdeen-based billionaire and energy industry veteran, has given warning that tumbling oil prices will have a “horrible effect” on North Sea prospects.

A sharp drop in oil prices since the summer is creating a heap of trouble for Norway.

Oil prices slid to the lowest point in more than five years Friday as worries about a global glut of oil continued to weigh on the market.

Saudi Arabia, the world’s largest oil exporter, deepened the discount at which it sells crude to Asia and the U.S., underscoring for some market watchers the kingdom’s commitment to defending its market share amid the recent rout in oil prices.

Global oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows, potentially curbing supplies by the end of the decade.

Romania's energy sector needs about 100 billion euros ($123 billion) worth of investment in power, oil and gas production, mining and related infrastructure by 2035 to be more self-sufficient, a draft energy ministry document showed.

that would allow Russia to establish control over such a gas trading hub, former US ambassador to Azerbaijan, Director of the International Centre for Defense Studies in Tallinn, Matthew Bryza told Trend.

The fallout from Russia's decision to abandon its ambitious South Stream pipeline deal continued Dec. 3, as Italian energy services firm Saipem announced that it would lose almost $2 billion because of Moscow's move

Serbian Deputy Prime Minister Zorana Mihajlovic said Tuesday that "the freezing" of the South Stream pipeline project was a problem for Serbia.

Europe is betting on the acceleration of the Southern Gas Corridor, which has been defined a key project along with the Vertical Corridor from Greece to Romania through Bulgaria.

The recent confidence in shale gas was likely premature, according to several new reports published in the US. In particular a study from the University of Texas claims the US boom will tail off by 2020 and not keep going to 2040 as previous less thorough analyses have predicted.

The dramatic events that recently took place regarding the termination of South Stream and its replacement by the so-called 'Turk Stream' pipeline has caused shock throughout Bulgaria, which is already rife by public discontent against the current political and economic elite.

At its meeting December 9, the Rosneft Board of Directors approved the main strategic objectives for Company developments.

The main Saudi concern is to protect market share.

The next few months are likely to be chaotic for the global energy industry

Renewed pressure on crude oil prices on Monday weighed heavily on the shares and bonds sold by US energy companies

Plunging oil prices look set to trigger another wave of industry consolidation after a decade when mega-deals were scarce, but investors want to see mergers that can squeeze out cost savings and only after a lavish dividend is paid.

Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom.