Drilling slump saps U.S. diesel demand
El Nino and the warm winter weather are being blamed for the weak demand for distillate fuel oil in the United States, but the slump in oil production is probably Continue Reading
Canadian oil pipeline expansion snubbed by provincial government
The provincial government of British Columbia said it did not support efforts by pipeline company Kinder Morgan to expand a regional crude oil network. Kinder Morgan petitioned the federal Canadian Continue Reading
Texas drilling permits lower by about half
A Texas state energy regulator said about half as many original drilling permits were issued for December than for the same month in 2014. Crude oil prices, down about 70 Continue Reading
Halliburton-Baker Hughes Merger Under EU Antitrust Review
Halliburton equipment at an Alvarado, Texas, equipment yard in June 2015. The merger, which would unite the second and third largest oil-field services suppliers, already faces a growing list of Continue Reading
U.S. Exports First Freely Traded Oil in 40 Years
The ink is barely dry on legislation to lift a 40-year-old ban on exporting U.S. crude and energy companies already are jockeying to ship American oil overseas. Two tankers filled Continue Reading
Putin: At best, Russian economy is No. 5 in the world
As the national economy declines under pressure from sanctions and low oil prices, Russia’s president said there are no claims to a role as a superpower. Lower crude oil prices Continue Reading
BP to Cut About 4,000 Exploration and Production Jobs
BP has about 80,000 employees world-wide. BP BP -0.66 % PLC said Tuesday it would slash about 4,000 jobs from its exploration-and-production unit—about one-sixth of the staff in that business—over Continue Reading
Russia to cut expenditure by 10%
Russia is slashing budget expenditure by 10 per cent as it scrambles to cope with lower revenues following the latest big drop in oil prices. Ministries and other government departments Continue Reading
Oil Flirts With $30 a Barrel
Oil prices moved closer to $30 a barrel on Tuesday as a range of problems pummeled the commodity, including oversupply, China’s weaker economy and a mild start to winter in Continue Reading
Oil Extends Losses From 12-Year Low as Stockpiles Seen Expanding
Oil extended declines from the lowest close in more than 12 years before U.S. government data forecast to show crude supplies expanded, exacerbating a global glut. Futures fell as much Continue Reading