Junk-Bond Selloff Intensifies
Investors retreated from the U.S. junk-bond market for the third straight trading day and stocks of large asset managers were hit by heavy selling, a sign that the deepest turmoil Continue Reading
Saudi Arabia forms Islamic counterterrorism coalition
Saudi Arabia said Tuesday that 34 nations have agreed to form a new “Islamic military alliance” to fight terrorism with a joint operations center based in the kingdom’s capital, Riyadh. Continue Reading
OPEC History Shows It Can Deal Even Bigger Blows to Oil Price
Oil’s slump of 14 percent in New York since OPEC met on Dec. 4 has struck fear into any remaining crude bulls. The last time the group rattled the market Continue Reading
Why China Is Loosening the Yuan’s Ties to the Dollar
China’s new pledge to depeg its currency from the U.S. dollar underscores a difficult fact for Beijing: the U.S. Federal Reserve could blunt its efforts to rekindle Chinese growth. The Continue Reading
Assassins hit North Oil Company again
Assassins killed a legal advisor of the state-run North Oil Company (NOC) and seriously injured the deputy to the inspector general, the third time a high-level NOC official has been Continue Reading
Tullow Gains After Successful Well Boosts Oil Potential in Kenya
Tullow Oil Plc gained after a successful well increased the potential size of oil resources the Africa-focused explorer has discovered in Kenya. The Etom-2 well in northern Kenya encountered 102 Continue Reading
Pemex Expands to Houston as It Nears $100 Billion in Debt
The opening of Petroleos Mexicanos’s first-ever gasoline station in Houston featured several cultural reminders of the company’s origins. There were mariachis dressed in traditional Charro suits, trumpet-heavy Mexican music and, Continue Reading
China’s Workers Are Fighting Back as Economic Dream Fades
Li Jiang’s journey from village rice fields to a concrete dorm room of snoring men has played out millions of times as migrant workers have reached for a piece of Continue Reading
Wealth comes with health warning in China
“People asked why I am not worried. You have to believe that as long as you have made no mistake, the government will not mess with you . . . Continue Reading
China may apply brakes to strategic oil reserve growth
After more than doubling its strategic oil reserves since last year, China may apply the brakes to its buying spree as storage availability is expected to be limited, while a Continue Reading
Japan LNG demand expected to fall by 2020 on nuclear restarts, renewables
Restart of nuclear reactors in Japan, growing renewable sources of energy and a slow economy are expected to push down the country’s LNG consumption by 2020 by as much as Continue Reading
Encana latest to trim 2016 budget
Canadian energy company Encana said it was cutting its capital program for 2016 by 25 percent, though nearly all of its spending would focus on four key areas. The company, Continue Reading
Junk Bonds Resume Sharp Selloff
The U.S. junk-bond rout deepened Monday, with the bonds of dozens of low-rated companies falling anew and the shares of some large fund-management firms tumbling as well. The declines reflected Continue Reading
Chesapeake Energy Works on a Recovery Plan With Evercore’s Advisers
The Chesapeake Energy campus in Oklahoma City. The company is trying to rework its debt…. The Evercore bankers are advising the natural-gas producer on potential measures to reduce its $11.6 Continue Reading
Cubic Energy Files for Chapter 11 Bankruptcy
Cubic Energy Inc., CBNR 0.00 % the latest Texas oil company brought down by falling oil prices, filed for bankruptcy protection after reaching a deal with its lenders to hand Continue Reading
Look Who’s Hiring a Climate Researcher (It’s Exxon)
ExxonMobil is looking for a PhD engineer, scientist, or economist who can “lead research in areas such as Earth systems science and the role of technologies and systems in managing Continue Reading
Don’t Count on an Oil Rally If U.S. Crude Export Ban Is Lifted
Traders betting that U.S. crude prices will jump above those in the rest of the world if Congress lifts America’s oil-export ban may be disappointed. Negotiators are inching closer to Continue Reading
Cheniere Energy chief executive toppled at moment of triumph
Charif Souki has fallen at his moment of triumph. Cheniere Energy, the company he founded, is about to begin something that many people thought could never be done: exporting liquefied Continue Reading
Coal consumption in 2016 could drop to 636 million st: analyst
As El Nino continues to moderate weather conditions across much of the US, the effects could reduce coal burn as low as 636 million st in 2016 with Central Appalachia Continue Reading
EIA ups total shale oil resource estimate by 13% to 419B barrels, shale gas by 4% to 7576 Tcf
The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. The addition of four countries—Chad, Kazakhstan, Continue Reading
Russia’s Natural Gas Giant Falters
Gazprom is a bellwether of Russia’s constraints and divisions. The natural gas behemoth dominates its sector in the Russian economy and is one of the Kremlin’s favorite foreign policy tools. However, Continue Reading
Shell clears last hurdle for BG Group merger
After clearing the last regulatory hurdle, Royal Dutch Shell said its planned merger with BG Group will require restructuring and a reduction in head counts. The Chinese Ministry of Commerce Continue Reading
Oil prices drop for seventh session on oversupply worries
Crude oil futures fell for a seventh straight session on Monday, their longest losing streak since mid-2014, as a forecast from the International Energy Agency (IEA) that the global supply Continue Reading
Saudi, Emirati officers killed in fighting in Yemen
Saudi and Emirati authorities say two senior officers from a Saudi-led coalition supporting Yemen’s internationally recognized government have been killed near the city of Taiz. The official Saudi Press Agency Continue Reading
Iraqi armed forces see chance for redemption as they close in on Ramadi
For Iraq’s armed forces, and the Americans who are training and backing them, the drive in Anbar province is critical. RAMADI, Iraq — In a small army camp on the Continue Reading
Chaos in Libya: It’s the oil, stupid
There is seems no end to the bad news coming out of Libya. UN-led negotiations to unite the divided country — it has two parliaments, two governments, two militia coalitions Continue Reading
Libyan Factions Urged to Form Unity Government
Diplomats from 17 nations on Sunday urged leaders of some of Libya’ s rival political factions to form a unity government that could reverse the nation’s descent into anarchy and Continue Reading
As Economy Lags, Hugo Chávez’s Movement Fades in Venezuela
As president, Hugo Chávez lavished millions from this country’s oil boom on his home state of Barinas. He built a soccer stadium, highways, apartment houses and a hospital. He sang Continue Reading
China November commodities output weak as refinery runs hit record
China’s output of key industrial commodities including coal and steel remained weak in November amid chronic oversupply as slowing construction demand took its toll. The world’s second-biggest economy has been Continue Reading
Beijing Smog to Ease After Last Week’s Red Alert Amid Cold Wave
A cold wave will likely clear up smog in Beijing later Monday after the city issued warnings this weekend for children and the elderly to stay inside as pollution levels Continue Reading
The zombie apocalypse in oil: Why it’s a bad sign for all of us
The dramatic drop in oil prices has created what are called “zombie” companies , oil companies which can still afford to pay interest on huge debts, but little else. If Continue Reading
Junk Bonds Stagger as Funds Flee
Traders and regulators have fretted for more than a year that mayhem might ensue if U.S. mutual funds sought to sell rarely traded bond investments. After junk-bond prices posted their Continue Reading
With oil hedges rolling off, U.S. shale producers face stiff test
Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover. Continue Reading
Seismic Surveyor Dolphin Files for Bankruptcy as Oil Woes Spread
Dolphin Group ASA, a Norwegian seismic surveyor that maps the seabed for oil and gas reservoirs, filed for bankruptcy as the collapse in crude prices claimed another victim. The Oslo-based Continue Reading
Climate deal may be terminal for coal, but death will be lingering: Russell
It’s tempting to take the champagne-fueled view that the historic global climate agreement reached in Paris signals the death of coal, but even if the dirty fuel is terminal, it Continue Reading
Big Oil, Make Way for Big Solar. The Winners and Losers in Paris
Saving the world isn’t going to be cheap. If you sell oil, coal or old-fashioned cars, that threatens disaster. For makers of stuff like solar panels, high-tech home insulation, and Continue Reading
Climate Agreement’s Success Hinges on Countries Making Painful Decisions
The landmark climate agreement that more than 190 countries struck over the weekend ushers in a broad, new international effort to wind down the fossil-fuel era. But as two weeks Continue Reading
Climate obstacles emerge within hours
The obstacles facing this weekend’s historic global climate change accord were thrown into relief on Sunday night when businesses and government officials downplayed the impact of the deal and US Continue Reading
A Climate Deal, 6 Fateful Years in the Making
It took almost two weeks for negotiators from 195 countries to finally pass the landmark climate accord this weekend after several espresso-fueled all-nighters and long, passionate debates over the meaning Continue Reading
Leaders Move to Convert Paris Climate Pledges Into Action
Before the applause had even settled in the suburban convention center where the Paris Agreement was adopted by consensus on Saturday night, world leaders warned that momentum from the historic Continue Reading
Anatomy of a deal: How the climate accord was won — and nearly lost
U.S. Secretary of State John Kerry, left, and French Foreign Minister Laurent Fabius. (Mandel Ngan/AFP/Getty Images) PARIS — The proposed accord was just hours from a final vote when the Continue Reading
Crude oil holds at seven-year lows as global glut persists
Crude oil prices remained at levels not seen since early 2009 on Friday as output in the Middle East continued to rise despite an already huge global glut, with analysts Continue Reading
Oil prices skid to seven-year lows
Crude fell to its lowest price in seven years on Friday after the world’s leading energy forecaster said oil inventories would continue to swell next year with supply outstripping demand. Continue Reading
Oil Sinks to Biggest Weekly Decline of 2015 After IEA Warning
Oil tumbled to its biggest weekly decline of the year after an International Energy Agency report highlighted the magnitude of the global crude glut. The IEA, an energy monitor, “>said Continue Reading
NYMEX January natural gas settled at $1.990/MMBtu, down 2.5 cents
The NYMEX January natural gas futures contract settled at $1.990/MMBtu Friday, down 2.5 cents. A prompt-month contract has not settled lower since reaching $1.975/MMBtu on April 24, 2012. The fall Continue Reading
Oil Market Report
Benchmark crudes approached seven-year lows in early December after OPEC opted to continue producing at will to defend market share. Unrelenting oversupply in world markets had already weakened benchmarks during Continue Reading
The Oil-Price Rout: Blink and You Won’t Miss It
OPEC ministers at a meeting in Vienna last week. When will oil producers slash output and who will do the cutting? Those questions have gripped markets as crude prices have Continue Reading
IEA: OPEC Strategy Hurts Shale but Doesn’t Lift Prices for Now
OPEC’s decision to effectively scrap its official production ceiling is showing signs of curbing its rivals’ output, but the world will remain oversupplied with oil well into next year, potentially Continue Reading
IEA sees oil glut worsening as demand growth slows
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, putting oil prices under further pressure, the International Energy Continue Reading
Boost From Oil-Price Drop Is Elusive
Gasoline prices have plunged, but the boost to consumer spending has been muted, perplexing economists…. When the tumble in oil and gasoline prices began in mid-2014, experts widely expected it Continue Reading