COP21 Climate Deal: Draft Final Agreement Delayed United Nations climate talks enter their originally-scheduled final day on Friday with envoys divided over the obligations placed on rich and poor countries, Continue Reading
As diplomats here work through the final points of a sweeping new climate change accord, experts said the ultimate measure of success of the agreement will be whether it sends Continue Reading
Oil edged up on Thursday, supported by a fall in U.S. crude inventories after a run of 10 weekly rises, but global oversupply concerns persisted as investors look to the Continue Reading
Crude oil prices found some support in early Asia trade Wednesday from the weakening U.S. dollar, but the fear of a prolonged global oversupply will keep the rise limited. Overnight, Continue Reading
As Iran prepares to emerge from the shadow of international sanctions, plans for deeper cooperation in the energy sector are moving forward, including a potential deal with Russia for a Continue Reading
Iraq’s Oil Ministry has revamped the management of South Oil Company (SOC) in an ostensible effort to decentralize authority and enable quicker decision-making.The new structure will make the SOC “more Continue Reading
Saudi Arabia’s Oil Minister Ali al-Naimi attends a meeting at the U.S. Center during the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris, France, December 8, 2015. Continue Reading
There they were, two of the gray-haired confidants of Hugo Chávez , Venezuela ’s late leftist leader, voicing their indignation at the government bumbling that led to Sunday’s stinging electoral Continue Reading
Brazil currently rated Baa3, lowest level of investment grade S&P had already cut the country’s rating to junk in September Brazil’s sovereign rating was put on review for a cut Continue Reading
The Philippines is set to open 23 coal-fired power plants over the next five years to meet rising electricity demand, illustrating the challenge climate-talk negotiators face in crafting a deal Continue Reading
The Chinese capital endured another day under an air quality “red alert” on Wednesday, with schools still closed, half of all cars kept off the roads and factories shut. But Continue Reading
It’s tempting to view the growth in China’s crude oil imports this year as mainly a result of increased strategic stockpiling, but that overlooks the rising importance of refined product Continue Reading
China won’t impose capital limits on its planned crude futures contract for foreign traders, according to the country’s currency regulator. “Foreign investors won’t have any type of quota or size Continue Reading
Royal Dutch Shell Plc, which reported its biggest net loss in more than a decade in October and has halted projects in Canada and the Arctic, is reviewing investments in Continue Reading
Shell has put its upstream holdings in New Zealand, which account for a significant chunk of the nation’s oil and gas production, up for sale. “These assets are profitable, well Continue Reading
A new scientific study published recently in the Proceedings of the National Academy of Sciences , coordinated by EDF, reports findings from the most comprehensive examination of regional methane emissions Continue Reading
Chevron, the US oil and gas group, has announced steep cuts in its spending on production and exploration, as it set out a plan to cut capital expenditure in 2016 Continue Reading
In an instant, Chesapeake Energy Corp. will erase the equivalent of 1.1 billion barrels of oil from its books. Across the American shale patch, companies are being forced to square Continue Reading
Drained by a 17-month crude rout, some U.S. shale oil companies are merely hanging on for life as oil prices lurch further away from levels that allow them to profitably Continue Reading
Two recently enacted laws authorize significant sales of crude oil from the Strategic Petroleum Reserve (SPR) over the next decade. The Bipartisan Budget Act authorizes the sale of 58 million Continue Reading
Analysts expect government data scheduled for release Thursday to show natural-gas inventories last week fell less than the average amount for this time of year. The U.S. Energy Information Administration Continue Reading
Five foundations are set after an inaugural construction season for what will become the first commercial offshore U.S. wind farm, developers said. Deepwater Wind, one of the developers behind the Continue Reading
Efforts to reverse a 40-year-old ban on domestic crude oil exports through legislative action are not welcome, a White House spokesman said. Congressional leaders are working to pass a massive Continue Reading
Lower consumption expectations and even lower crude oil prices means gas prices could drop another 2 percent on average next year, a U.S. federal report finds. Photo by John Angelillo/UPI Continue Reading
The gasoline dividend U.S. consumers are capturing this year is finally beginning to find its way into cash registers and not just savings accounts. Drivers are paying the least for Continue Reading
Diesel is the cheapest versus gasoline for this time of year in at least a decade as inventories surge and mild temperatures reduce heating demand. Ultra low sulfur diesel on Continue Reading
Under a fingernail moon at Sassoon Docks, Parumati Mangela, a fisherwoman, sat on her haunches, grimacing. Something strange is happening over the Arabian Sea, she said: “The sky is getting Continue Reading
The US has unexpectedly joined a large group of countries trying to isolate China and India in the tense home stretch of UN talks in Paris on a new global Continue Reading
Under a fingernail moon at Sassoon Docks, Parumati Mangela, a fisherwoman, sat on her haunches, grimacing. Something strange is happening over the Arabian Sea, she said: “The sky is getting Continue Reading
Last week, China was trumpeting its arrival as one of the world’s great economic powers, as the International Monetary Fund elevated the renminbi to the ranks of leading currencies , Continue Reading
On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, Continue Reading
Crude oil prices found some support in early Asia trade Wednesday from the weakening U.S. dollar, but the fear of a prolonged global oversupply will keep the rise limited. Overnight, Continue Reading
Reduced spending by oil explorers will lead to a global shortage of crude within the next few years, according to industry consultant Rystad Energy. While the world’s exploration and production Continue Reading
Oil prices fell to fresh seven-year lows Tuesday on expectations that U.S. crude inventories rose for an 11th straight week last week. Oil prices have plunged in the past year Continue Reading
Crude prices edged away from nearly 7-year lows on Tuesday as China reported strong commodity imports despite economic weakness, but overall the market remained weak due to global oversupply compounded Continue Reading
Oil derivative traders are preparing for crude prices to fall further in the coming months, but few expect Goldman Sachs’ worst-case scenario of a drop to $20 a barrel to Continue Reading
Not for the first time this year, executives at the world’s biggest oil companies are wondering how much worse the news can get. This week crude prices slid to their lowest Continue Reading
Brent, the global oil benchmark, fell below $40 a barrel for the first time in six years on Tuesday, dipping below what traders say is a key level for the Continue Reading
The number 40, so significant for the religiously inclined, is meaningful for those praying for a rebound in energy prices too. Brent crude, the global oil benchmark, broke through that Continue Reading
The United States is reviewing and seeking to confirm reports that Iran launched a ballistic missile last month in violation of U.N. Security Council resolutions, U.S. Ambassador to the United Continue Reading
The U.S. is helping Iran with an arrangement to send part of its nuclear fuel stockpile to the Central Asian nation of Kazakhstan, a step that would speed the lifting Continue Reading
The U.S. is helping Iran with an arrangement to send part of its nuclear fuel stockpile to the Central Asian nation of Kazakhstan, a step that would speed the lifting Continue Reading
Latest News Russia launches new airstrikes in Syria; 1st from submarine Putin’s foe Khodorkovsky summoned for questioning 3 injured by explosion at Moscow bus stop Russian activist sent to prison Continue Reading
Saudi Arabia is shipping more crude oil to Asia over the last two months of the year as strong refining margins boost demand, trade sources said, helping the top oil Continue Reading
If Ali al-Naimi were to review his time as Saudi oil minister, he might feel events had turned full circle. Two years after the long-serving technocrat’s 1995 promotion to become Continue Reading
Companies working in the Israel energy sector said they’re still pursing commercial deals in Egypt despite reports of a breakdown in talks. Egyptian media outlet Ahram Online reported during the Continue Reading
Emirati energy company Dana Gas said the Kurdish government of Iraq owes it and its partners more than $11 billion for interfering with oil-field operations. Dana last month reached an Continue Reading
The fuel crisis took a dramatic turn for the worse, yesterday, as massive queues were seen in almost all the petrol stations selling the products in Abuja. Also, some oil Continue Reading
Venezuelan electoral authorities have confirmed that the opposition has won a key two-thirds majority, enabling it to challenge President Nicolas Maduro. The opposition said it would work to release jailed Continue Reading
Just when it looked like change was coming to Venezuela, along came OPEC to spoil the party. Celebrations were still taking place in Caracas in the aftermath of elections Sunday Continue Reading
