BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said.

The exchange in Shanghai has registered capital of 1 billion yuan and 10 shareholders. State-run Xinhua News Agency has the largest stake – at 33 percent – followed by the country's Big Three oil and gas producers. China National Petroleum Corp. (CNPC), China Petrochemical Corp. Group and China National Offshore Oil Corp. each own 10 percent.

After the cancellation of the South Stream natural gas pipeline last December due to the EU’s blockage of the project, Russia announced an alternative project called the Turkish Stream which will hit the shore on the European side of Turkey near Kıyıköy.

The economic battle that is currently taking shape will have global ramifications for many years to come. Energy is certainly playing a major role in this economic battle, with Moscow seeking to counteract the desire of Washington and Brussels to divide Russia from Europe. The Russian government unquestionably has massive power owing to the amount of energy exportation that it is involved in, and a lack of cooperation in this regard would certainly be damaging to numerous Western companies and countries alike.

Rosneft Brasil (дочерняя компания ОАО «НК «Роснефть») и PetroRio получили одобрение от Национального агентства Бразилии по нефти, природному газу и биотопливу (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis – ANP) сделки по приобретению Rosneft Brasil дополнительной доли размером 55% в проекте Солимойнс. По условиям соглашения, дата закрытия сделки будет дополнительно согласована сторонами, ожидается, что закрытие сделки состоится в течение 30-ти дней.

Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses.

China's crude oil output looks set to rise this year from a record in 2014 as new production from third largest producer CNOOC helps to counter reductions from its two bigger rivals.

Europe could take advantage of global LNG dynamics, but much of the evolution of the European LNG market depends on Gazprom’s decisions in the short to medium term,

Saudi Arabia has signed a commitment to invest up to $10 billion in Russia, the Russian Direct Investment Fund said Monday.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $41.9 billion in May, up $1.2 billion from $40.7 billion in April, revised.

North Sea Brent crude oil prices averaged $61/barrel (b) in June, a $3/b decrease from May. Crude oil prices fell by about $4/b on July 6 in the aftermath of the "no" vote in Greece on the economic program, as well as lingering concerns about lower economic growth in China, higher oil exports from Iran, and continuing growth in global petroleum and other liquids inventories.

«Северный поток I» — экспортный газопровод мощностью 55 млрд куб. м газа в год, проложенный по дну Балтийского моря из России в Германию. Оператором проекта является совместное предприятие Nord Stream AG («Газпром» — 51%, Wintershall и E.ON — по 15,5%, Gasunie и ENGIE — по 9%).

Реализация положений подписанных Основных условий позволит «Роснефти» получить доступ к египетскому рынку газа, обладающим существенным потенциалом роста, а также расширить сотрудничество между компаниями. Кроме того, сотрудничество с EGAS позволит «Роснефти» усилить свои позиции на мировом рынке трейдинга СПГ.

HONGHUA GROUP issued a profit warning, expecting the net profit for the six months ended 30 June 2015 to decrease significantly as compared to that for the same period in 2014 and may record a loss.

Over the past decade, domestic refinery output of petroleum products has grown significantly while consumption has declined, resulting in a major increase in product exports. Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, an increase of 0.5 million b/d over exports the same time last year. Product imports are also higher than last year, but to a lesser extent, leading to an increase in net petroleum product exports.

Technip will reduce its global workforce by 6,000 employees and accelerate cost reduction and efficiency in “anticipation of an even more challenging environment in oil and gas.”

Председатель Правления ОАО «НК «Роснефть» Игорь Сечин и Учредитель Группы компаний Essar Шаши Руйя подписали долгосрочный контракт на поставку нефти для целей последующей переработки на НПЗ в г. Вадинар (Индия).

Eni has started production of the giant gas field Perla, located in the Gulf of Venezuela, 50 kilometers offshore. The first production well has been opened and is currently in the clean-up phase.

Royal Dutch Shell PLC is days away from drilling in the Arctic Ocean—betting it can find enough oil to justify the huge risks that keep almost every other competitor out of those icy waters.

U.S. Rig Count is up 1 rig from last week to 863, with oil rigs up 5 to 645, gas rigs down 2 to 217, and miscellaneous rigs down 2 to 1.