Low oil prices have pushed top exporter Saudi Arabia to hasten difficult economic reforms and cut spending on popular benefits, but it has few options beyond sticking with a strategy Continue Reading
Though doors are opening to the Iranian energy sector, BP’s top executive Bob Dudley said few investors will rush in on a whim. Iran said it secured renewed access to Continue Reading
Militants in Libya attacked and damaged oil-storage tanks near the Ras Lanuf port terminal, inflicting an “environmental catastrophe” that will hamper the country’s crude exports, according to state-run National Oil Continue Reading
Saudi Arabia has described the collapse in oil prices to below $30 as “irrational” and expects the market to recover in 2016 even as the country continues to keep production Continue Reading
Saudi Arabia faces profound challenges to its economy and political system as a result of the slump in oil prices, which will test the skill of the country’s ruling elite Continue Reading
Four storage tanks at Libya’s Ras Lanuf terminal have been set ablaze following an attack by “Islamic State” (“IS”) militants. Libya’s National Oil Corporation said the situation was “catastrophic for Continue Reading
Amid one of the deepest oil price crashes in history, Britain’s Tullow Oil is sending one of the world’s biggest floating deep-water oil production platforms to West Africa to pump Continue Reading
Venezuela Oil Minister Eulogio del Pino called on Thursday for OPEC and non-OPEC producers to meet in February to discuss bolstering low oil prices that have hammered the recession-hit South Continue Reading
A Chinese industry body said it could review rules covering the import of crude by new entrants after a private refinery failed to secure financing for 1.5 million barrels of Continue Reading
U.S. crude and gasoline stockpiles rose more than expected last week, while distillate inventories fell, data from the Energy Information Administration showed on Thursday. Crude inventories rose by 4 million Continue Reading
