Petroleos Mexicanos’s plans last year included joint ventures and higher oil production. For 2016, that’s turned into job cuts and asset sales as it tries to weather the worst downturn Continue Reading
A key gauge of Brazil’s public finances, the primary fiscal deficit, ballooned in November to one of the worst levels since records began. In a stark illustration of the challenges Continue Reading
China will continue improving its energy consumption structure and efficiency in 2016, a senior energy official said Tuesday. China will lift the ratio of consumption of non-fossil fuels among total Continue Reading
Rigzone surveys oil and gas experts on a variety of issues expected to confront the industry during the next 12 months. As we move toward the conclusion of a difficult Continue Reading
China’s government is promising “jobs for the boys” after ordering state-owned enterprises to employ some of the 300,000 soldiers who are being laid off as part of an ambitious modernisation Continue Reading
A woman walks through an underpass during heavy pollution in Beijing. Beijing advised children and the elderly to stay indoors today after pollution levels in the Chinese capital reached “heavy” Continue Reading
China expects its energy consumption to grow in 2016, the official Xinhua news agency of the world’s largest energy consumer said on Tuesday. China’s apparent demand for crude oil will Continue Reading
Nine large copper smelters in China have agreed to cut sales of spot metal by as much as 200,000 tonnes in the first quarter of 2016 to counter low prices, Continue Reading
A cold snap across the United States has natural gas traders hoping that stronger heating fuel demand may help deplete massive gas stockpiles by next spring, a view that has Continue Reading
Canadians are starting to lose faith in their housing market. A gauge of real-estate sentiment dropped by the most in three years last week, according to telephone polling by Nanos Continue Reading
Baker Hughes is scheduled to report its drilling-rig count Thursday. The market needed another hole in the ground like it needed a hole in the head. When Baker Hughes Inc. Continue Reading
Russia’s manufacturing industry contracted in December, halting a two-month recovery as falling oil prices threaten to extend the country’s recession into a second year. The Purchasing Managers’ Index fell to Continue Reading
Utility-scale solar and distributed solar both have an important role to play in reducing greenhouse emissions, and both have made great strides in the past year. Utility-scale solar, the focus Continue Reading
The US space agency Nasa has warned that the effects of the current El Nino weather phenomenon could be as bad as those of 1998, the strongest on record. That Continue Reading
When Sonoma State University professor Carl Jensen started looking into the new media’s practice of self-censorship in 1976, the Internet was only a dream and most computers were still big Continue Reading
Oil’s pre-Christmas rally fizzled out as concerns about the increased supply from Iran and weaker demand in Europe weighed on prices. Reports that the Iran nuclear deal was on track Continue Reading
Crude prices were up Tuesday with the U.S. benchmark West Texas Intermediate moving higher than its global counterpart Brent because of the prospect of the first shipment of crude being Continue Reading
Oil prices steadied not far off their 11-year lows on Tuesday, under pressure from slowing global demand and abundant supplies, with Saudi Arabia signaling no change to its oil policies Continue Reading
Oil prices fell Monday as disappointing economic data from Japan helped reinforce fears that the world’s glut of crude won’t ease soon. Light, sweet crude for February delivery lost $1.29, Continue Reading
International Brent and U.S. crude oil futures battled for a premium on Monday but both benchmarks fell in a market in which there is no end in sight for oversupply Continue Reading
Saudi Arabia is better equipped to wait out currently low oil prices than other producers, Saudi Aramco Chairman Khalid al-Falih said on Monday, adding that he expected a more stable Continue Reading
Confronting a drop in oil prices and mounting regional turmoil, Saudi Arabia reduced energy subsidies and allocated the biggest part of government spending in next year’s budget to defense and Continue Reading
Saudi Arabia Aims to Cut Spending Saudi Arabia, the world’s biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as Continue Reading
Saudi Arabia Aims to Cut Spending Saudi Arabia expects to post a budget deficit of 367 billion riyals ($98 billion) as spending came higher than targeted and revenue dropped amid Continue Reading
Total oil revenues for Saudi Arabia for the year are expected to be 23 percent less than the previous fiscal year, the Finance Ministry said Monday. The ministry reported total Continue Reading
With more than 2 million barrels of oil per day expected on the market, an Iranian energy director said the country is ready to take a larger market share. “Iran Continue Reading
Saudi Arabia on Monday unveiled plans to cut expenditures and sharply raised domestic fuel prices as the world’s top oil exporter attempts to cope with a new era of cheap Continue Reading
Saudi Arabia on Monday sharply raised domestic fuel prices, according to the official Saudi press agency, shortly after the world’s top crude exporter said it plans to adjust subsidies for Continue Reading
Image copyright Saudi Arabia’s budget deficit soared to $98bn (£65.7bn) this year as the world’s biggest oil exporter counted the cost of falling crude prices. In the first budget under Continue Reading
Saudi Arabian stocks declined the most in two weeks after the kingdom announced one of its biggest shake-ups in economic policy. Forward contracts for the riyal were poised for the Continue Reading
A Russian ship left Iran on Monday carrying almost all of Iran ’s stockpile of low-enriched uranium, fulfilling a major step in the nuclear deal struck last summer and, for Continue Reading
A landmark nuclear deal with Tehran moved closer to implementation Monday, with U.S. Secretary of State John Kerry announcing that tons of enriched uranium that could potentially be turned to Continue Reading
China is moving to rein in its fast-growing and innovative online finance sector, which offers a glimpse of how the rest of the world may someday handle money but has Continue Reading
Volunteers to fight the Islamic State, from different Iraqi factions including Kurdish and Yazidis, train at a camping area near Kurdish security points on Bashiqa mountain, around 15km Northeast of Continue Reading
Dozens of people were killed and scores more wounded in bombings and other attacks in northern Nigeria on Monday and overnight Sunday, officials said. In the city of Maiduguri, 52 Continue Reading
Breaking a seven-month occupation by the Islamic State, Iraqi troops on Monday retook most of Ramadi, the most populous city in western Iraq, overrunning a government compound held by the Continue Reading
It has become more expensive for the so-called Islamic State to operate its oil sectors in Iraq and Syria, and prices of fuel and commodities in key Iraqi territories are Continue Reading
There are strong indications that the United States will soon resume buying Nigeria’s crude oil following ongoing talks in this regard between the US and the federal government. Minister of Continue Reading
A nongovernmental group that tracks crime in Venezuela says the homicide rate climbed in 2015, putting the country on track to be one of the most violent in the world. Continue Reading
Equities across the globe were undermined on Monday by losses in mainland China after a near 3 per cent drop on the Shanghai exchange triggered fresh commodity losses. As many Continue Reading
China’s LNG imports rose 3.47% year on year in November to 1.8 million mt, the highest level since July, General Administration of Customs data for the month showed. The November Continue Reading
Douglas-Westwood, an energy business strategy, research and commercial due diligence services company, provided Monday an outlook for the offshore oil and gas industry in 2016 following a year-long downturn. This Continue Reading
The number of rigs actively exploring for or producing oil or natural gas in North Dakota is at a historic low, state data for Monday show. Data from the North Continue Reading
There’s a dark side to those delightfully low gas prices: Housing markets are slumping in communities that were recently flush from the U.S. shale oil fracking boom. Home sales are Continue Reading
Oil prices will remain under pressure in the near term as Iran seeks to boost crude shipments, said Meg McClellan, global head of consultant and client strategies at JPMorgan Asset Continue Reading
Chesapeake Energy Corp. is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer Continue Reading
A snowstorm dumped around two feet (60 cm) of snow in parts of the Permian Basin in West Texas and New Mexico over the weekend, crimping some crude output and Continue Reading
Russia’s economy shrank for the first time in five months as declines in oil prices rippled through consumption and industrial output, highlighting the risks to a recovery from the country’s Continue Reading
The euro was trading at 79.55, which is its highest level against the ruble since August 26. During Monday trading at the Intercontinental Exchange (ICE), Brent crude prices fell to Continue Reading
Bicyclists had free rein of Milan’s streets Monday during a six-hour ban on private cars in a bid to alleviate persistent smog. Pollution levels in Italy’s business capital have exceeded Continue Reading
