Natural-gas futures plunged Thursday after a government report showed a smaller-than-expected withdrawal last week, fueling fears over the high-levels of gas storage. Futures for February delivery fell 5.7% to settle Continue Reading
Oil companies delayed making decisions on 68 major projects world-wide last year, accounting for some 27 billion barrels of oil and equivalent natural-gas volumes and bringing total 2015 deferred spending Continue Reading
Even as the biggest oil market meltdown since the financial crisis unfolded over the past few weeks, the real-world, physical market is showing few signs of panic or distress – Continue Reading
As oil prices dip to a 13-year low of around $30 per barrel, many of the world’s petro-states could see hundreds of billions dollars more shaved off their revenue streams Continue Reading
The 2016 decline in global exploration and production spending projection will mark the second time in the industry’s history for a consecutive year drop, Barclays says. There’s a new oil Continue Reading
In the middle of 2014, oil traded for more than $100 a barrel . Today, it is below $35. Traditionally, there would be numerous positives from low oil prices, but Continue Reading
Energy groups have shelved nearly $400bn of spending on new oil and gas projects since the crude price collapse, pushing back millions of barrels a day in future output from Continue Reading
Iran’s crude oil exports are on target to hit a nine-month high in January as buyers prepare for the lifting of sanctions against the Middle Eastern country within days. Iran Continue Reading
Ahead of the so-called Implementation Day, a U.S. federal report found only six foreign companies were working in the Iranian energy sector last year. White House spokesman Josh Earnest told Continue Reading
Saudi Arabia plans to create a new sovereign fund to manage part of its oil wealth and diversify its investments, and has asked investment banks and consultancies to submit proposals Continue Reading
Argentina’s YPF SA YPF 2.34 % and American Energy Partners LP, run by energy industry veteran Aubrey McClendon , signed a deal Thursday to jointly explore and develop unconventional oil Continue Reading
South Korea’s crude oil shipments from Iran slid 62.2 percent in December from a year ago, with imports in full-year 2015 falling 8.0 percent from 2014 in accordance with sanction Continue Reading
The dramatic slide in China’s stock markets this month threatens to breach the lows hit during last summer’s crash, and will test Beijing’s ability to calm skittish investors. The benchmark Continue Reading
The companies that clean the boilers, grease the machinery and tighten the bolts are skirting the carnage in Canada’s energy patch. Even as crude trades at its lowest in 12 Continue Reading
China’s state-run oil refiner Sinopec Corp has purchased its first ever batch of U.S. crude oil for export, a source told Reuters on Thursday, a landmark transaction after the ending Continue Reading
Chevron Corp said on Friday it is on track to export the first cargo of liquefied natural gas (LNG) from its Australian Gorgon project – the world’s most expensive – Continue Reading
China’s main stock benchmark entered a bear-market Friday, following a deep afternoon selloff that dragged markets in the rest of the region lower. The Shanghai Composite Index fell 3.6% to Continue Reading
Free-falling oil prices are the latest headache for the global mining giant, which is already grappling with a dam burst at a Brazilian mining venture and a collapse in prices Continue Reading
Crude prices dipped below $30 a barrel this week for the first time in years. But for many producers, $30 oil already is a thing of the past. Most barrels Continue Reading
Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by $7.2 billion on a bleak outlook for oil and gas prices, cementing Continue Reading
Based on EIA’s weekly survey of gasoline prices, the U.S. average retail price for regular gasoline fell to $1.996 per gallon (gal) on January 11, falling below $2.00/gal for the Continue Reading
The Obama administration is hoping to accelerate testing of fully autonomous vehicles in the US by creating a “consistent national policy”, threatening to override a patchwork of state rules around Continue Reading
The natural gas shipment had been expected to depart from the Houston-based company’s Sabine Pass plant in southwest Louisiana later this month. Cheniere said the shipment had been postponed until Continue Reading
The Obama administration proposed spending nearly $4 billion over a decade to make driverless cars on U.S. roads more widespread in an effort to curb fatalities and traffic jams. The Continue Reading
A group of environmental activists filed a challenge to leases held by Royal Dutch Shell in Alaskan waters, citing the need to act on behalf of the climate. Earthjustice, working Continue Reading
A survey from the Dallas Federal Reserve finds pressure from energy sector weakness may be spilling over into other parts of the economy. “Demand for oilfield services remained depressed as Continue Reading
The Obama administration is preparing to announce as soon as Friday an overhaul of how the nation manages coal development on federal land, according to government and conservationist sources, in Continue Reading
The first January-born hurricane in the Atlantic Ocean since 1938 formed on Thursday, and headed toward Portugal’s Azores islands. Hurricane Alex strengthened from a tropical storm into a Category 1 Continue Reading
The ruble fell, extending the biggest drop in emerging markets this week, as the Royal Bank of Scotland Plc said it has a bearish outlook on concern oil will continue Continue Reading
Brent oil swung between gains and losses near $30 a barrel as Iran moved closer to boosting exports and exacerbating a global glut. Futures advanced as much as 1.1 percent Continue Reading
U.S. oil stumbled below $30 for the first time in 12 years to levels that threaten the survival of many U.S. shale firms, spur more belt-tightening by oil majors and Continue Reading
Investment banks have been falling over themselves the past week to call for ever-lower oil prices. Banks have been throwing out increasingly low numbers as “worst-case scenario” oil prices, though Continue Reading
As oil prices fall to new multi-year lows on a global glut, the structure of the niche but crucial benchmark Brent market has shown counter-intuitive signs of tighter supplies and Continue Reading
The world mostly ignored Ed Morse 11 months ago when the head of commodities research at Citigroup said oil could drop as low as $20. (Bloomberg) — The world mostly Continue Reading
The oil bears are out in force Oil is heading for $10-a-barrel, crashing to its lowest level in more than 18 years, another major bank has warned. Standard Chartered downgraded Continue Reading
Analysis Oil prices hit their lowest level since summer 2004 this week, continuing the rapid tumble that began in June 2014 . The global benchmark, Brent crude oil, closed trading Continue Reading
National home prices never go down. Eurozone countries don’t default. Saudi Arabia won’t let the price of oil crash. China’s demand for raw materials is infinite. These are some of Continue Reading
Oil companies could slash 2016 spending by around 20 percent in the face of a persistent downturn, with North America taking the brunt of the cuts while Middle Eastern and Continue Reading
Oil and gas projects worth $380 billion have been postponed or cancelled since 2014 as firms slash costs to survive the oil price crash, including $170 billion of projects planned Continue Reading
The slump in oil prices that’s brought upheaval and cost-cutting to the traditional energy industry spared renewables such as solar and wind, which raked in a record $329.3 billion of Continue Reading
Global stocks resumed the steep declines that have characterized much of the year on Thursday, as fears around commodity prices and the outlook for global growth continued to weigh on Continue Reading
Iran has received no formal request for an extraordinary meeting for members of the Organization of Petroleum Exporting Countries, its oil minister said. Nigerian Oil Minister and current OPEC President Continue Reading
Iran has released two US patrol boats and 10 crew members who were taken into custody on Tuesday after Tehran said they strayed into Iranian waters “unintentionally”. The swift resolution Continue Reading
Iran ’s release of 10 United States Navy sailors on Wednesday, less than 24 hours after they were detained on the Persian Gulf, is being hailed in both countries as Continue Reading
Iran may only be able to deliver about half of the promised surge in crude output after sanctions are lifted as it struggles to revive idled fields, according to banks Continue Reading
The head of Libya’s state-oil company on Wednesday said he is meeting with major oil companies such as BP BP 0.07 % PLC to try to jump-start the country’s potential Continue Reading
After waiting in line for more than four hours to buy gasoline in Nigeria’s capital, Abuja, taxi driver Adebayo Olawole considered himself fortunate he got a half-filled tank. The day Continue Reading
Nigeria said Wednesday it would not cut oil production outside the framework of the Organisation of Petroleum Exporting Countries (OPEC), even as nose diving crude prices caused by a global Continue Reading
China’s government, worried that energy has gotten too cheap, said it will tighten its hold over domestic prices for gasoline and other products in response to a slide in global Continue Reading
Weak Chinese demand for oil, coupled with its devalued currency against the US dollar could lead industry into a deeper trough, economists say. Following an inauspicious start to 2016, oil Continue Reading
