Blame Canada for Making the Oil Glut Worse
Some of the world’s most expensive crude lies trapped inside Canada’s oil sands. But the lingering legacy of $100 barrels means the nation is destined to exacerbate, rather than alleviate, Continue Reading
Appeals Court Declines to Block EPA Carbon Rule During Litigation
A federal appeals court on Thursday declined to temporarily block a key Obama administration environmental rule to limit carbon emissions from power plants, rejecting requests by states and companies that Continue Reading
Southwestern Energy to Lay Off or Trim Roles of 1,100 Workers
Southwestern Energy Co. SWN 19.24 % on Thursday announced a sweeping workforce-reduction plan that will lay off or reduce the roles of about 45% of the company’s employees as it Continue Reading
Energy-Market Slump Weighs on Big Railroads
The dismal energy market slammed two of North America’s biggest freight railroads in the fourth quarter, prompting them to slash jobs and driving profits below Wall Street’s expectations. Union Pacific Continue Reading
Schlumberger cuts 10,000 jobs amid oil price rout
Schlumberger’s customers are abruptly cancelling projects, the world’s largest oilfield services company warned on Thursday as its full-year results revealed further pain from an 18-month rout in crude that has Continue Reading
This Time, Cheaper Oil Does Little for the U.S. Economy
It has been a truism of the American economy for decades: When oil prices rise, the economy suffers; when they fall, growth improves. But the decline of oil prices over Continue Reading
Union Pacific crude volumes slide 42% on challenging oil market
Weak crude prices and “unfavorable” spreads inhibited Union Pacific crude-by-rail shipments, the company said during its fourth-quarter earnings call Thursday. Crude shipments by Union Pacific shed 42% in the fourth Continue Reading
Gazprom mulls LNG options for Pakistan
Russian energy company Gazprom said one of the more promising areas for cooperation with Pakistan was in the field of liquefied natural gas. Gazprom Chairman Alexei Miller hosted a delegation Continue Reading
Total scales back role in Russian oil field
French energy company Total said it may transfer half of its stake in a Russian operation to a national player, but maintained a strong interest in the region. Total said Continue Reading
Feature: Low crude, fuel oil prices revive talk of Russian run cuts
The low crude and fuel oil price environment has resuscitated talk about run cuts at Russian refineries, though traders remain uncertain about the actual moves. “There are a lot of Continue Reading