Low oil prices will persist for longer than previously expected, according to Morgan Stanley, which reduced its quarterly crude forecasts for this year by as much as 51 percent. Morgan Continue Reading
Beneath the surface of the global financial system lurks a multitrillion-dollar problem that could sap the strength of large economies for years to come. The problem is the giant, stagnant Continue Reading
Six oil-producing countries have agreed on an emergency meeting between OPEC and non-OPEC member states, the Iranian oil ministry’s news service Shana reported on its website Wednesday, citing Venezuela’s oil Continue Reading
Steering the region’s second-largest economy through Western sanctions means Iran is in a unique position to weather an oil sector downturn, Moody’s said. Moody’s Investor’s Service said the Iranian economy Continue Reading
The Syrian opposition High Negotiations Committee (HNC) said on Wednesday after the announcement of the pause of the intra-Syrian talks that they will leave Geneva on Thursday and “won’t return Continue Reading
Hundreds of people fled a conflict-hit area of southeast Turkey’s largest city of Diyarbakir on Wednesday, taking advantage of the lifting of a curfew to escape any further clashes between Continue Reading
The U.N. special envoy for Syria announced a temporary suspension of peace talks on Wednesday, less than a week after representatives from Damascus and the opposition gathered in Geneva to Continue Reading
Four months after launching airstrikes in Syria, the Kremlin is confident that Moscow’s largest overseas campaign since the end of the Soviet Union is paying off. Under the banner of Continue Reading
Venezuelan oil minister said six crude oil producing countries including Iran and Russia support convening an emergency meeting between OPEC and non-OPEC member states, Iran’s Oil Ministry’s news agency reported Continue Reading
The Syrian army and its allies have broken a three-year rebel siege of two Shi’ite towns in northwest Syria, government and rebel groups said on Wednesday, cutting off a main Continue Reading
A military offensive around the city of Aleppo by Syrian government and allied forces has uprooted hundreds of families in nearby towns and killed three humanitarian aid workers, the United Continue Reading
A Top oil exporter Saudi Arabia faces a dilemma when setting its monthly export prices this week, as rival producer Iran ramps up crude shipments into an already oversupplied market. Continue Reading
Slabs of concrete wall have sprung up and military patrols have intensified, but local people say this stretch of Turkey’s border facing Syrian territory under Islamic State control is still Continue Reading
An airstrike by a military coalition led by Saudi Arabia hit a cement factory north of Sana, Yemen ’s capital, on Wednesday evening, killing at least 15 people, including civilian Continue Reading
Kirkuk province, like the rest of Iraq, is in a development stand-still as the depressed oil price has cut state revenues and the fight against the so-called Islamic State (IS) Continue Reading
Litasco, the trading arm of Russia’s Lukoil, is set to ship the first Suezmax-sized cargo out of Iran after international sanctions were lifted three weeks ago, market sources said Tuesday. Continue Reading
Oil companies looking to steal a jump on rivals in the race to benefit from Iran’s emergence from Western sanctions risk having tankers left in limbo by international insurers’ continued Continue Reading
The state oil company in Nigeria, Africa’s biggest producer of crude, made a 267 billion naira ($1.34 billion) loss last year, dragged down by its refining division. Sales of 2 Continue Reading
A 9-foot-high wall built of fabric, sand and steel that can withstand a car bomb surrounds this seaside oil-and-gas complex, a barrier against militant attacks that many in Libya hope Continue Reading
The Kurdistan Regional Government (KRG) announced sizeable cuts to its bloated government payroll Wednesday, in response to a budget crisis that has brought the economy to the brink of collapse.The Continue Reading
Obviously in response to the lingering fuel crisis and the loud complaints by suffering consumers, the management of the Department of Petroleum Resources, DPR, may have decided that enough was Continue Reading
The first US crude oil cargo destined for the Caribbean region has arrived at Bullen Bay, Curacao and was priced at a $3.96/b premium to the NYMEX light sweet crude Continue Reading
Petroleos Mexicanos (Pemex) reported liquid hydrocarbons production in 2015 of 2.59 million b/d, down 7% compared with the 2014 total and 10% compared with the 2013 total. Offshore production accounted Continue Reading
Millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived here from countries around the world in recent months to service Venezuela’s crippled economy. But instead of food Continue Reading
Chinese travellers wait for the train to set off as they head to their hometown for the Lunar New Year. a total of 42 million individual voyages by air and Continue Reading
AGL Ltd. (AGL.AU) will quit natural gas exploration and production because of the volatility in energy prices, tightening its focus on commercial and retail gas activities. The Australian energy company Continue Reading
China’s Beijing Enterprises Holdings Ltd. has emerged as the front-runner to acquire a German operator of waste-burning power plants from private-equity firm EQT for around €1.8 billion ($2 billion), according Continue Reading
U.S. crude oil and gasoline inventories jumped more than expected last week to record highs, data from the Energy Information Administration showed on Wednesday. Crude inventories USOILC=ECI rose 7.8 million Continue Reading
The latest blow to the energy industry’s collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking Continue Reading
Average well in Dewitt county profitable with crude at $22.52 Texas has a message for $30 crude doomsayers: Bring it on. A handful of shale patches in the state, which Continue Reading
Environmentalists emboldened by President Barack Obama’s rejection of the Keystone XL pipeline are now trying to convince the administration to close a door it opened last year to allow oil Continue Reading
Advocacy group Oceana said it welcomed Washington, D.C., to a growing list of local governments expressing opposition to drilling in the Atlantic Ocean. The city council in the nation’s capital Continue Reading
Marathon Petroleum Corp. said its fourth-quarter earnings fell 77% as weak fuel prices resulted in an inventory markdown that weighed on results at its refinery and Speedway retail divisions. Shares Continue Reading
Los Angeles prosecutors filed criminal charges against the Southern California Gas company on Tuesday over a huge methane gas leak that has forced thousands of Los Angeles residents from their Continue Reading
Mexico’s Ministry of Energy (SENER) is seeking to learn how it can replicate the success of South Texas’ Eagle Ford shale. Representatives of Mexico’s National Hydrocarbons Commission (CNH), Ministry of Continue Reading
For most of the past 20 years, Wal-Mart Stores Inc. has let another company build and operate gas stations in the parking lots of its stores. Now, the retailer has Continue Reading
Suncor Energy Inc., SU 3.06 % Canada’s largest crude-oil producer, late Wednesday reported a fourth-quarter net loss of $2 billion Canadian dollars ($1.45 billion) and slashed its 2016 capital spending Continue Reading
Oil-field service company Weatherford International PLC said Wednesday that it planned to continuing cutting jobs in the face of the sector’s lingering downturn and would slash about 15% of its Continue Reading
Canadian Prime Minister Justin Trudeau on Wednesday pledged to seek greater global market access for Alberta’s oil-sands crude as long as it can be done in an environmentally sustainable manner. Continue Reading
European renewables company DONG Energy said it made a final investment decision for its Hornsea project, the world’s largest offshore wind farm ever planned. DONG said it was moving forward Continue Reading
Royal Dutch Shell ( RDSa.L ), Europe’s largest oil company, reported its lowest annual income in at least 13 years on Thursday, vowing to take further steps to weather the Continue Reading
Royal Dutch Shell Plc, which is on the brink of completing the oil industry’s largest deal in a decade, said fourth-quarter profit fell 44 percent after the rout in crude Continue Reading
Angela Merkel prepares to press the button to generate the machine’s first burst of hydrogen plasma. German Chancellor Angela Merkel said her government is committed to funding nuclear-fusion research as Continue Reading
Statoil ASA, Norway’s biggest oil company, deepened investment cuts and offered to pay dividends in stock as a collapse in crude prices eroded earnings. The company said it plans to Continue Reading
Shell’s earnings have come under pressure from weak oil prices. The Anglo-Dutch oil company’s fourth-quarter profit on a current cost-of-supplies basis—a number similar to the net income that U.S. oil Continue Reading
This year, 368 people have died making the journey across the Mediterranean, 60 of them children, migration figures show . Since the beginning of the year 19,781 minors have arrived Continue Reading
GToday, human influence has transformed almost every part of the globe. But looking at the span of human history, this wasn’t the case until quite recently. That’s one of the Continue Reading
Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with OPEC over output cuts helped revive hope among investors that the world’s Continue Reading
Crude prices were down Tuesday as hopes for production cuts from major producers faded and investors focused back in on the weak fundamental factors underpinning the oil markets. The global Continue Reading
Oil prices fell on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for Continue Reading
