OPEC has not yet scheduled any talks with Russia and other non-OPEC countries aimed at supporting oil prices, two OPEC delegates said on Tuesday after Russian officials talked up potential Continue Reading
Russia is ready to meet the main oil producers within the Organization of the Petroleum Exporting Countries (OPEC) if a consensus on such a meeting is reached with them, RIA Continue Reading
Russian Foreign Minister Sergei Lavrov reiterated Tuesday that the country is ready to take part in a potential meeting of top oil producers in February, Russian news agencies reported. Last 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
Natural gas prices dipped below the $2 mark Tuesday as a heavy surplus and mixed weather forecasts caused the largest back-to-back combined losses in three months. Gas futures have been Continue Reading
Kirkuk’s provincial government confirmed Tuesday that it has received $10 million for oil exported and sold independently by the Kurdistan Regional Government (KRG).The payment follows a deal struck between the Continue Reading
A measure of growth in Saudi Arabia’s non-oil economy fell to a record low as cheap crude weighs on the world’s largest oil exporter. The Emirates NBD Purchasing Managers’ Index Continue Reading
Russia will not stop its air strikes on Syria until armed groups, such as al Qaeda’s wing there, are defeated, Russian Foreign Minister Sergei Lavrov said on Wednesday. On Tuesday, Continue Reading
A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday, while the warring sides said Continue Reading
Italy’s Trevi firm will be tasked with renovating and maintaining the strategic Mosul Dam, Iraq’s government-sponsored Al-Iraqiya News TV reported Feb. 2. The announcement follows a January statement by U.S. Continue Reading
Venezuela’s state-owned oil company, which has access to the world’s largest reserves, took delivery of its first U.S. crude since export restrictions were lifted last year. Petroleos de Venezuela SA Continue Reading
The Russian leg of Venezuelan Oil Minister Eulogio Del Pino’s tour to persuade major oil exporters to cut production gained little more than pledges for further discussion. Igor Sechin, chief Continue Reading
China’s capital has become notorious for its smog but the biggest contributors to local air pollution are industrial furnaces, district heating systems, residential fires and trucks rather than power plants. Continue Reading
When Archer Daniels Midland opened two of the country’s largest ethanol plants in Nebraska and Iowa six years ago, the biofuels market was on the cusp of a boom with Continue Reading
Electricity generated from utility-scale renewable plants is expected to grow by 9% in 2016, based on projections in the latest Short-Term Energy Outlook . Much of the growth comes from Continue Reading
Oil companies are groping around in the dark. It is hard to be confident that dawn is imminent. In BP’s case, a respectable headline cash-flow figure was flattered by movements Continue Reading
Natural gas company Peregrine Midstream Partners LLC filed for chapter 11 bankruptcy protection Tuesday, having run out of money with its natural gas facility only a few months from completion. Continue Reading
The Houston-based company on Monday received approval from the U.S. Bankruptcy Court in Wilmington, Del., to sell the majority of its assets to Texegy LLC for $48.75 million. The deal Continue Reading
The Irving, Texas company disclosed plans to put its share buyback plan on hold to preserve cash, an unexpected step after the company spent $3 billion in 2015 to reduce Continue Reading
State agencies in Oklahoma may be facing budget cuts of at least 10 percent in part because of the pressure from lower oil prices, the governor said. “We’ve seen a Continue Reading
Exxon Mobil Corp. is cutting its drilling budget to a 10-year low and halting share buybacks after last year’s belt-tightening failed to shield the world’s biggest oil explorer from crashing Continue Reading
History doesn’t repeat, but it does rhyme. Or so the saying goes. Sometimes history indeed repeats. Our latest example: how the distribution of growth across the U.S. is strikingly similar Continue Reading
Chevron Corp., Hess Corp. and Continental Resources Inc. had their credit ratings cut by Standard & Poor’s as the worst oil-market collapse in a generation squeezes energy producers. In a Continue Reading
LyondellBasell Industries NV on Tuesday reported a worse-than-expected 31% slide in revenue, as its product prices remain under pressure. Still, the company was able to notch better-than-expected profit growth. The Continue Reading
* Output cuts not justified at the moment, says CFO * May start closing wells at prices below $15/b * Plan output increase to 2 mil boe/d pushed back to Continue Reading
BP’s final results for 2015 revealed its worst performance for more than two decades and that it will lose 7,000 members from its workforce in 2016 and 2017. Super major Continue Reading
Lundin Petroleum AB suffered its biggest ever quarterly loss as the collapse in oil prices forced the Swedish explorer to book impairment charges. The loss widened to $493 million in Continue Reading
A deepening recession, a ballooning budget deficit and Brent crude at around $30 a barrel have weakened the oil-reliant economy and forced Putin, who has tightened his grip on the Continue Reading
With oil hovering around $30 a barrel, commodities prices in free fall, and China continuing to confront a series of market-rattling growing pains, global equities have entered full correction mode. 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
crude oil prices fell 6 percent on Monday as weak economic data from China, the world’s largest energy consumer, reversed a four-day rally from last week and an OPEC source Continue Reading
Natural gas prices are posting their largest losses in a month Monday after warmer updates to weather models pushed traders to sell as soon as electronic trading opened. Futures for Continue Reading
The world’s biggest oil producers including Russia and Saudi Arabia are set to keep pumping crude into a glutted market and forgo coordinated output cuts as OPEC seeks to shut Continue Reading
After a year of secret diplomacy and hushed-up private talks around the world, OPEC’s mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which Continue Reading
For the last 75 years, almost every economic crisis has been preceded by an oil price spike. The worry now is that low energy prices are pushing the global economy Continue Reading
Weak crude oil prices are taking a toll on demand for offshore vessels and rigs, badly hitting investments in the sector, increasing idle capacity and prompting some owners to scrap Continue Reading
Security forces in Basra are continuing to struggle with an array of challenges, including violence near oil fields between rival tribes, tensions with paramilitary groups, and a rise in mafia-style Continue Reading
Asaad Al-Zoubi (R), head of the Syrian opposition delegation, and Salim al-Muslat (2nd R), spokesman for the High Negotiations Committee (HNC), attend peace talks with U.N. mediator for Syria Staffan Continue Reading
Saudi Arabia is ready to manage the oil market under the condition that “everybody must cooperate”, from OPEC members to other oil producers outside the exporting group, the Saudi-owned al-Hayat Continue Reading
The partners controlling the Leviathan gas field off the Israeli coast announced they signed a deal for deliveries to a local electricity producer. Israeli electric company Edeltech Ltd. agreed to Continue Reading
Emirati energy company Dana Gas said no injuries were reported when a natural gas pipeline in the Kurdish north of Iraq ruptured near Kirkuk, causing outages. Dana said gas flows Continue Reading
Iran is struggling to finalize the terms under which foreign energy companies can drill for oil there, as a political battle rages between the country’s more moderate forces and its Continue Reading
The world’s largest group of oil-tanker underwriters is in talks with the U.S. government to find a way to insure Iranian petroleum shipments now that sanctions over Iran’s nuclear program Continue Reading
Secretary of State John Kerry on Tuesday said at a meeting here of the American-led coalition fighting the Islamic State that the group must step up its efforts and prevent Continue Reading
Iraq posted its second-best monthly export rate ever, but oil sales have not risen steeply enough to offset lower oil prices.Excluding oil sold by the Kurdistan Regional Government (KRG), which Continue Reading
Investors in Asian oil and gas companies should prepare for a wave of writedowns after a collapse in crude prices. CNOOC Ltd., Santos Ltd. and Inpex Corp. are among explorers Continue Reading
Last month’s plunge in crude to $30 a barrel proved too tempting for China to turn down even as its economy lurches toward the weakest growth in a generation. Chinese Continue Reading
U.S. consumers are cautious about spending their windfall from cheap gasoline and are saving more, according to a Reuters/Ipsos poll and official data, suggesting low oil prices are less of Continue Reading
U.S power generation from coal fell to the lowest monthly level in 35 years in November 2015 as generators switched to cleaner and cheaper natural gas, according to federal data. Continue Reading
