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
