Russia's government-owned oil company Rosneft says US sanctions imposed on Russia will only hurt the US and other Western investors. Rosneft says that the US sanctions are 'illegitimate and groundless.'
The downing of a Malaysia Airlines jetliner last week is further straining relations between Russia and the West over Ukraine. That could spell trouble for several major oil companies operating in Russia.
Russian President Vladimir Putin has signed several energy deals in Latin America as he visits the region this week. Will it hurt the US's energy influence, or is Putin just focused on expanding Russia's economic relationships?
Many Argentines are optimistic the Vaca Muerta (Dead Cow) oil and gas fields can transform their nation’s fortunes overnight. Interest from Russian and Chinese leaders is helping fuel that hope.
The world has 53.3 years left to find an alternative to oil before current proved reserves run dry, according to BP. Of course, nations are finding new oil – meaning that number is rising – but new extraction methods are costly and can pose environmental threats.