Brent crude in London advanced, widening its premium over West Texas Intermediate to the highest in almost 3 months as swelling stockpiles weigh on U.S. prices. Futures for April in Continue Reading
Brent crude futures edged up on Monday after already making up ground last week as indications mounted of the market bottoming out, but analysts warned that downward risk remained and Continue Reading
The Syrian opposition warned on Sunday that attacks by the army, backed by Russian warplanes, threatened a U.S.-Russian deal for a cessation of hostilities with collapse and endangered future peace Continue Reading
Iranian President Hassan Rouhani casts his vote during elections for the parliament and Assembly of Experts, which has the power to appoint and dismiss the supreme leader, in Tehran February Continue Reading
Syrian government forces regained control of a key road to the northern city of Aleppo after making advances against Islamic State fighters on Monday, a monitoring group and state television Continue Reading
Iran sold a light hydrocarbon liquid pumped from its South Pars fields to South Korea’s Hanwha Total Petrochemicals Ltd., as the removal of sanctions help it challenge producers of similar Continue Reading
Allies of Iran’s President Hassan Rouhani, a relative moderate in the ultraconservative clerical regime, have won 15 of the 16 seats in Tehran in the Assembly of Experts election , Continue Reading
Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region faces slowing growth, rising rates and rating downgrades, according to Continue Reading
he death toll from two suicide blasts in Baghdad’s mainly Shi’ite district of Sadr City rose to 24 with more than 60 others wounded, police and medical sources said on Continue Reading
Net foreign assets held by Saudi Arabia’s central bank fell below $600 billion in January for the first time since July 2012 as the government of the world’s largest oil Continue Reading
Genel Energy Plc said it expected to book about $1 billion in impairment to the 2015 value of its Taq Taq oilfield in Iraqi Kurdistan, citing reduced estimate for recoverable Continue Reading
Islamic State launched separate attacks on Iraq’s capital Sunday, including the largest in two years on the city’s outskirts and a bombing that killed at least 34 people, officials said. Continue Reading
The OPEC cartel needs to take action to stabilize the oil market because crude prices have fallen to “totally unacceptable” levels, Nigerian President Muhammadu Buhari said on Sunday. Nigeria, Africa’s Continue Reading
As Venezuela grows closer to exhausting nearly every means of paying its debt, some oil market participants are seriously pondering the possible implications of an unprecedented event: the default of Continue Reading
A labourer marks steel bars at a steel and iron factory in Huai’an, Jiangsu province, China, in this February 18, 2008 file photo. China said on Monday it expects to Continue Reading
Malaysia’s Petroliam Nasional Bhd, or Petronas, reported a fourth-quarter net loss on Monday and announced spending cuts for the next few years, as the state oil company braces for a Continue Reading
Chinese stocks fell, with the benchmark index approaching the lowest level since November 2014, as some investors were disappointed by a lack of specific measures to boost growth during the Continue Reading
Highly-leveraged U.S. energy companies are struggling to carry out debt swaps as part of their survival strategy because plummeting oil and gas prices make investors either avoid such deals or Continue Reading
For leading U.S. shale oil producers, $40 is the new $70. Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce Continue Reading
The U.S. is so awash in crude oil that traders are experimenting with new places to store it: empty railcars. Thousands of railcars ordered up to transport oil are now Continue Reading
Wall Street analysts have slashed expectations for US earnings in the first quarter as companies grapple with plummeting oil prices and slow economic growth. The growing pessimism comes amid a Continue Reading
Coal fell to just 27.6% of US utility-scale power generation in December, and the spread between it and natural gas-fired generation widened to 616 basis points, the largest yet seen, Continue Reading
The collapse of U.S. oil and gas investment could have… In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning Continue Reading
The U.S. shale oil business is drawing closer to a precipice, and energy executives worry it could be years before the industry can revive the major investment and engine for Continue Reading
Oil rose to $37 a barrel on Friday for the first time in eight weeks as supply disruptions affecting northern Iraq and Nigeria helped prices stabilise above recent lows. A Continue Reading
Oil prices fell on Friday as investors cashed out big weekly profits after a rally driven by disruptions to crude supplies and Wall Street’s gains from U.S. economic data. Prices Continue Reading
Oil prices fell Friday as traders weighed the near-term oversupply of crude against expectations of lower production around the world. Light, sweet crude for April delivery settled down 29 cents, Continue Reading
Germany’s BASF, owner of oil and gas producer Wintershall, said Friday it expects gas prices to remain depressed throughout 2016 as it struggles to compensate for the loss of sales Continue Reading
Every week, the EIA proclaims a new record for natural gas production. But their own forecasts show that the U.S. will be short on supply by October of this year. Continue Reading
Britain’s Labour Party adopted the song “Things can only get better” as its campaign anthem for the 1997 general election, expressing the party’s ambitions for governing after 18 years in Continue Reading
Oman, the poorest Gulf Arab country on the basis of economic output per person, was cut for the first time by Moody’s Investors Service, which cited the negative impact of Continue Reading
Iran’s Supreme Leader Ayatollah Ali Khamenei casts his vote during elections for the parliament and Assembly of Experts, which has the power to appoint and dismiss the supreme leader, in Continue Reading
Fighting appeared to stop across most areas of western Syria on Saturday after a landmark “cessation of hostilities” came into effect under a U.S.-Russian plan which warring sides in the Continue Reading
Four Royal Saudi Air Force (RSAF) Boeing F-15S fighter aircraft arrived Feb. 26 at Turkey’s Incirlik Air Base to support the U.S.-led coalition fighting the Islamic State in Syria, soon Continue Reading
Hundreds of thousands of demonstrators led by Shiite leader Muqtada al-Sadr gathered in Baghdad’s Tahrir Square on Feb. 26 to protest government corruption and the slow pace of reform, Rudaw Continue Reading
For those willing to try their luck — and test their fate — there are new deals to be had in the Isis oilfields of eastern Syria. In recent weeks Continue Reading
Iran has carried out most of its commitments under the nuclear agreement reached in July, the United Nations’ atomic agency said Friday, although for a time it exceeded the permitted Continue Reading
Danish engineering company Subsea 7 said it was awarded a contract to help BP develop three gas fields, including laying export lines, off the coast of Egypt. For an undisclosed Continue Reading
Central African oil player SOCO International said it came up empty-handed while drilling in the waters off the coast of the Republic of Congo. SOCO in early February said it Continue Reading
As Venezuela grows closer to exhausting nearly every means of paying its debt, some oil market participants are seriously pondering the possible implications of an unprecedented event: the default of Continue Reading
Venezuela is planning to move fast with a new mining joint venture announced this week with Spokane, Washington-based Gold Reserve Inc. and will start extracting the precious metal within six Continue Reading
Bonds from Venezuela’s state oil company due in October surged after the country paid $1.5 billion of debt that matured Friday. The $1 billion of notes from Petroleos de Venezuela Continue Reading
The timing couldn’t be worse for the first production of natural gas from Australia’s $54 billion Gorgon project – the world’s most expensive. Prices for liquefied natural gas (LNG) have Continue Reading
The operator of Japan’s Fukushima power plant has apologized for not announcing its nuclear reactors were in meltdown for months after a huge earthquake and tsunami devastated the facility five Continue Reading
According to the U.S. government, there are over 1.3 billion barrels of crude oil and refined products in commercial storage around the United States, an increase of more than 300 Continue Reading
Eagle Ford Shale drops 8 more rigs, leaving 41 at work Explorers parked more drilling rigs in U.S. oilfields as the rest of the world looks to shale producers to Continue Reading
An 8 percent cut in headcounts at Halliburton is a result of a weak energy sector and not an adjustment ahead of the Baker Hughes merger, a spokeswoman said. “Due Continue Reading
Australian gas leader Woodside said it was wading into the growing liquefied natural gas sector in the United States with an agreement to tap Texas port developments. Woodside announced it Continue Reading
Opposition to a lease plan for the U.S. waters of the Atlantic grew after Virginia said it wanted to be left out of any future drilling plans. Virginia Lt. Gov. Continue Reading
The U.S. oil-rig count fell by 13 to 400 in the latest week, according to Baker Hughes Inc., maintaining a recent clip of sharp declines. The number of U.S. oil-drilling Continue Reading
