The parties discussed relevant cooperation issues, placing an emphasis on planned gas supplies to China via the eastern and western routes, as well as the prospects of collaboration in the field of underground gas storage, gas-fired power generation, and natural gas vehicles.

Russia’s crude production continuing to grow this year by around 100,000 b/d or even slightly above this figure. The growth is supported by investments made in previous years.

Россия уже 20 лет является крупнейшим экспортером энергоресурсов на греческий рынок и обеспечивает 60 процентов потребностей Греции в газе и свыше 15 процентов в нефти.

Nigeria's crude oil and condensate production has fallen almost 50% from the start of the year to around 1.1 million b/d.

U.S. Rig Count is unchanged from last week at 404, with oil rigs down 2 to 316, gas rigs up 2 to 87, and miscellaneous rigs unchanged at 1. Canadian Rig Count is down 1 rig from last week to 43, with oil rigs down 2 to 14, gas rigs up 1 to 28, and miscellaneous rigs unchanged at 1.

Over the last decade “many solutions had been tested and some, such as Europe’s Emissions Trading System (ETS), were only partially successful.”

Thanks to industry innovation and technological advancements, we’ve transitioned from an era of energy scarcity to an era of energy abundance. The new challenge is to keep moving forward, not backward. We must continue to think long term - continue to ensure access to new areas for safe and responsible energy development, and invest in reliable energy infrastructure - to protect U.S. consumers, businesses and national security for generations to come.

With most companies indicating continued reductions in E&D budgets absent a meaningful increase in crude oil prices, proved reserves additions will likely continue to decline.

Oil companies operating in Norway expect to spend 153.2 billion kroner ($18.47 billion) on exploration and production next year, the weakest figure since 2011 and nearly a third below the sector’s all-time high of NOK220.7 billion two years ago. In 2016, they expect to spend NOK165.9 billion on exploration and production, down from NOK195.4 billion a year earlier and 1% below a similar estimate made in February.

“But when you sign agreements and create the impression that it’s going to be implemented when no one’s identified the trillions of dollars that it’s going to cost, it’s just not clear that’s going to deliver.”

The sharp drop in oil prices over the past two years has led companies including Exxon Mobil and Royal Dutch Shell to sharply reduce budgets, particularly for exploration, where spending fell in 2015 to around 95 billion from $168 billion two years earlier, according to Morgan Stanley.

BP has the lowest amount of pre-FID (final investment decision) resource, which leads to the weakest future growth rates.

Министр энергетики отметил, что страны АСЕАН являются одними из наиболее быстро растущих в мире по темпам роста объемов потребления энергии. «Сегодня в этом регионе потребляется вдвое меньше энергии, чем в среднем по миру, при этом с 1990 г. энергопотребление выросло в 2,5 раза», - отметил Александр Новак. По его словам, эта тенденция открывает для России «окно возможностей», связанных с поставками энергоресурсов, технологий и оборудования.

Российско-вьетнамские отношения основаны на традициях дружбы, доверия и взаимной помощи, а рост торгового оборота между Вьетнамом и Россией в первом квартале текущего года достиг 20%.

Saudi Arabia’s debt plans come as falling oil prices encourage other Gulf countries, including Abu Dhabi and Oman, to turn to capital markets for funding, setting a new record for borrowing by Middle Eastern governments so far in 2016. This week, Qatar said it was looking to tap dollar bond markets for the first time in five years.