Police officers in Sulaimaniya and Erbil provinces joined a rising tide of strikes and demonstrations on Monday to protest government pay cuts being made in response to a worsening budget Continue Reading
Mexican president Enrique Peña Nieto has replaced the chief executive at Pemex, the state oil company that is bleeding cash because of the oil price slump, with instructions that all Continue Reading
Financial markets expect Venezuela to default on its debt during the next few years. The first big test of that occurs this month. Venezuela is trying to convince bond investors Continue Reading
In the capital, water is so expensive and scarce that residents wait for hours with bottles at the side of a mountain where it trickles out onto the highway. In Continue Reading
Chesapeake Energy, the No. 2 U.S. natural gas producer, said on Monday it had no plans to file for bankruptcy, after sources told Reuters the company had asked its longtime Continue Reading
As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude Continue Reading
North American oil and natural gas drillers will need to cut an additional 30 percent from their capital budgets to balance their spending with the cash coming in their doors Continue Reading
Jim Tisch said “chaos continues to reign over the energy market” after the slump in commodity prices fueled a fourth-quarter loss and stock decline at his Loews Corp. “If these Continue Reading
Rig company Transocean said Monday its contract for the Discoverer Deep Seas rig in the Gulf of Mexico was canceled nine months early. Murphy Oil Corp. was leasing the deepwater Continue Reading
Lower crude oil prices continued to pressure upstream operations in North Dakota as the state shed two rigs since last week, state data show. The state government shows 42 rigs Continue Reading
Chesapeake Energy Corp. said Monday that it “has no plans to pursue bankruptcy” after a report intensified such fears, and its share price fell by half in early trading. The Continue Reading
Oil production will fall by 92,000 b/d from February to March in key US onshore plays, the US Energy Information Administration said Monday. The biggest forecast drop will be in Continue Reading
U.S. oil and gas pipeline companies including Williams Companies Inc and Kinder Morgan Inc have contracts worth billions of dollars that might be at risk as Chesapeake Energy Corp aims Continue Reading
Oil at $30 a barrel is blowing a hole in the insurance that U.S. shale drillers bought to protect themselves against a crash. Companies including Marathon Oil Corp., Noble Energy Continue Reading
Sovereign bonds surged, sending the Japanese benchmark 10-year yield below zero for the first time, as investors seeking the safest assets gorged on government debt. Treasury yields dropped to a Continue Reading
About 150 oil and gas companies tracked by energy consultant IHS Inc. may go bust as a supply glut pressures prices and punishes revenues. The number of companies at risk Continue Reading
Shale patches in the U.S. are pumping out more oil and gas than the government previously thought. A total 184,000 barrels a day of shale oil output were added to Continue Reading
One of the last big North Sea projects sanctioned under high oil prices has begun pumping natural gas, highlighting an unexpected boom in U.K. energy production that analysts say is Continue Reading
Oil pricing agency Platts is taking new technical steps to protect the Brent benchmark from declining North Sea output, in what could be a first step in radically overhauling the Continue Reading
Oil traded near $31 a barrel after Saudi Arabia and Venezuela met to discuss cooperating to stabilize the market and U.S. data signaled investors are split on the direction for Continue Reading
Crude oil futures rose on Monday in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Continue Reading
Money managers may not agree where oil prices are headed, but they are increasingly eager to place their bets. Total wagers on the price of crude climbed to the highest Continue Reading
Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices Continue Reading
The oil tanker Tofteviken is set to sail from the U.K. this month carrying the first shipment of North Sea Ekofisk crude to the U.S. Gulf Coast in five years. Continue Reading
Oil prices will stay low for as long as 10 years as Chinese economic growth slows and the U.S. shale industry acts as a cap on any rally, according to Continue Reading
Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn’t announce any plans for the production cut the South American country says is needed to prop Continue Reading
Saudi Arabia’s oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, state news agency Continue Reading
Iran enjoys trolling the United States. In fact, it’s something of hobby for the Ayatollah, who has maintained the country’s semi-official “death to America” slogan even as President Rouhani plays Continue Reading
Turkish aid workers have been setting up tents and distributing supplies for thousands of new Syrian refugees kept from entering Turkey at the border. Some 35,000 people fled a Syrian Continue Reading
Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran’s crude oil sales to Europe after the lifting of international sanctions on Tehran had already reached above 300,000 barrels per Continue Reading
National Oil Corp. in western Libya warned traders against loading “illicit” cargoes of oil at Hariga port in the eastern part of the country, while the company’s counterpart in the Continue Reading
The average price of a gallon of gasoline in the United States fell 8.2 cents in the past two weeks to its lowest level in seven years, according to a Continue Reading
The largest U.S. independent refiners are bullish on domestic gasoline demand as super-cheap fuel and the lure of bigger vehicles entice more consumers. Valero Energy Corp and Phillips 66 both Continue Reading
Pressure is mounting on Russia to break the vow of abstinence on selling Eurobonds it has maintained since the U.S. and Europe slapped sanctions on some of its biggest companies. Continue Reading
Rystad Energy , an independent oil and gas consulting services and business intelligence data firm in Oslo, Norway, has online, a wealth of information concerning upstream oil production projects and Continue Reading
What is the future of earth? As the world’s population grows, the already depleted natural resources are reduced further. As citizens of the planet, we are the only ones who Continue Reading
Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed Continue Reading
Oil prices slid Friday, pressured by a stronger dollar and concerns that the oversupply of crude will persist. Gasoline futures settled below $1 a gallon for the first time since Continue Reading
Natural-gas prices surged Friday as forecasts for colder weather boosted demand expectations. Moderate temperatures have limited demand for natural gas as an indoor-heating fuel this winter, pushing the market into Continue Reading
Only weeks into what was widely anticipated to be a helter-skelter, post-sanctions rush of Western money and expertise into Iran , limits to the country’s opening are beginning to emerge Continue Reading
Syrian government and allied forces pressed their most dramatic advance in months on Friday, sending insurgents scrambling and tens of thousands of civilians fleeing toward the border with Turkey. The Continue Reading
Libya’s national oil company has warned shipowners of “unauthorised” attempts by rival factions to export crude, in further evidence of the power struggle between east and west over oil revenues. Continue Reading
Tens of thousands of Syrians fled an intensifying Russian assault around Aleppo on Friday, and aid workers said they feared the major city could soon fall under a full government Continue Reading
Genel Energy confirms payment for Kurdish crude oil exports as regional government considers referendum for formal statehood. Photo courtesy of Genel Energy. LONDON, Feb. 5 (UPI) — With formal statehood Continue Reading
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, Continue Reading
To be sure, the rumors have been there for a while. As we first wrote in March of 2015 when it became a topic of conversation, speculation that Cushing may Continue Reading
A deep and prolonged drop in oil prices is increasingly squeezing tax collections in energy-producing states, fueling calls for tax increases and cuts to schools, road projects and other government Continue Reading
The United States has slightly more than 20,000 megawatts (MW) of solar generating capacity, which includes utility-scale solar photovoltaic (PV) and solar thermal installations, as well as distributed generation solar Continue Reading
President Barack Obama on Friday defended his proposal for a $10-per-barrel tax on oil companies to raise hundreds of billions of dollars to fund transportation and energy projects, arguing that Continue Reading
The total number of rigs actively exploring for or producing oil and gas in the United States dropped more than 8 percent, Baker Hughes reports. In its monthly report for Continue Reading
