Citigroup Inc. said deals in Nigeria, Africa’s biggest oil producer, have plummeted because investors are too scared to spend money when it’s expected that the naira will have to be Continue Reading
Members of Maduro’s own party are reportedly working with the opposition to replace him. (Inti Ocon/AFP/Getty Images) With each passing day, it is becoming increasingly clear that Venezuelan President Nicolas Continue Reading
A surge of corporate bonds is adding to China’s already-high debt levels, amplifying risks to the economy as Beijing persistently encourages borrowing to fuel growth. The new rounds of corporate Continue Reading
China’s efforts to take the lead in electric vehicle development will focus on battery technologies and public vehicle fleets, in a bid to kick an over-dependence on subsidies, according to Continue Reading
Chesapeake Energy, the second-largest gas producer in the US, on Wednesday, announced a cut of up to 69 percent in its capital spending for this year, as it seeks to Continue Reading
A few weeks ago, energy executives were lamenting a purgatory of “lower for longer” oil prices. As an epic bust persists, the rhetoric now involves eternal torment. “People keep calling Continue Reading
Refineries in the U.S. Midwest are losing their thirst for oil, posing a new risk for the battered oil market. The Midwest accounts for nearly a quarter of the crude Continue Reading
Forced to reckon with a prolonged period of low energy prices, oil chiefs sought to portray themselves as steely survivors in an industry grappling with spending cuts and asset sales Continue Reading
One day after Saudi Arabia’s oil minister said it was time for high-cost producers to call it quits, two Bakken shale drillers announced they’re doing just that. Continental Resources Inc., Continue Reading
U.S. crude oil stockpiles rose in the week ended Feb. 19, while refinery activity slowed more than expected, according to data released on Wednesday by the U.S. Energy Information Administration. Continue Reading
U.S. crude-by-rail shipments dipped nearly 17% in 2015 as domestic crude oil production slowed, according to the Association of American Railroads. Railroads moved 410,249 carloads of U.S. crude last year, Continue Reading
Chesapeake Energy Corp. lost more than $14 billion in 2015, as it wrote down the value of its oil and gas fields amid a protracted downturn in energy prices that Continue Reading
Forced to reckon with a prolonged period of low energy prices, oil chiefs sought to portray themselves as steely survivors in an industry grappling with spending cuts and asset sales Continue Reading
U.S. natural gas company Chesapeake Energy said it would focus on divestments as it trims its spending forecast for 2016 by more than 50 percent. Chesapeake in early February said Continue Reading
Wells Fargo & Co. said soured energy loans soared 49 percent in the last three months of 2015, fueled in part by tumbling oil prices. Oil-and-gas nonaccrual loans, which includes Continue Reading
U.S. crude oil stocks rose to a second consecutive record high last week as refinery utilization fell, while gasoline inventories fell for the first time since November, data from the Continue Reading
For the second time this month, rig company Transocean said one of its clients announced it was canceling a contract for deep-water activity early. Transocean said Esso Exploration Angola Ltd., Continue Reading
« Ford becomes first automaker to join Electronic Industry Citizenship Coalition | Main | Berkeley Lab researchers devise new technique to reduce lignin and increase sugar yields; lowering biomass pretreatment Continue Reading
Oil prices slid further on Wednesday after Saudi Arabia dismissed the possibility of a production cut and traders expected another increase in U.S. oil stockpiles. Brent crude, the global oil Continue Reading
Oil extended declines after oil ministers from Iran and Saudi Arabia signaled they’re unwilling to curtail production. Futures slid as much as 3.2 percent in New York. Saudi Arabia won’t Continue Reading
Oil futures fell more than half a dollar on Tuesday given worries rising Iranian output would deepen a global oversupply, offsetting expectations of a drop in U.S. production that had Continue Reading
Natural gas futures fell to a two-month low Tuesday as forecasts continued to call for moderate indoor-heating demand. Futures for March delivery settled down 3.9 cents, or 2.1%, to $1.782 Continue Reading
Most of the world’s biggest oil producers are raising output even as budgets shrink, showing that past investments are still boosting volumes amid the worst crude-market collapse in a generation. Continue Reading
Saudi Arabia delivered its starkest message yet to a reeling global oil industry, ruling out co-ordinated production cuts that could rescue the industry from low prices. Ali al-Naimi, Saudi Arabia’s Continue Reading
Saudi Arabia shot down rumors it might cut oil production, but reaffirmed its commitment to an output freeze that could restrict crude flows to market this summer. With the world’s Continue Reading
Saudi Arabia has ruled out a deal by major producers to cut oil output and warned high-cost operators such as US shale drillers to trim costs or go bust in Continue Reading
Saudi Oil Minister Ali Al-Naimi urged global energy executives to “stick together” through the worst industry slump in decades, saying he was confident that growing support for a deal to Continue Reading
Iran’s oil minister called a proposal by Saudi Arabia and Russia to freeze oil production “ridiculous” as it seeks to boost output after years of sanctions constrained sales. Crude prices Continue Reading
President Barack Obama’s top military and intelligence advisers don’t believe Russia will abide by a just-announced cease-fire in Syria and want to ready plans to increase pressure on Moscow by Continue Reading
In Libya, troops under Gen. Khalifa Hifter took control of Benghazi’s al-Laithi district as militants rapidly withdrew from the area, The New Arab reported Feb. 23. The militants’ withdrawal allowed Continue Reading
Oil fields in the autonomous Kurdistan region have shut in the vast majority of production due to an export pipeline outage that has not been fully explained and has now Continue Reading
Honda Motor Co. wants partially or fully electric cars to account for two-thirds of global sales by 2030, its chief executive said, laying out long-term priorities after his inaugural year Continue Reading
Indian state refiners are jointly negotiating oil purchase deals with OPEC producers for the first time, as the world’s third biggest consumer seizes on low prices to wrest better terms Continue Reading
The growing clout of state-backed Chinese oil traders is raising concerns over their influence on the price of crude as trade increasingly flows into markets with little regulatory oversight. Last Continue Reading
SHENZHEN, China—China wants to shift from customer to competitor in the global nuclear industry as it seeks to roll out its first advanced reactor for export, a move that adds Continue Reading
Petroleo Brasileiro SA, Brazil’s state-owned energy company, is scheduled to receive the first cargo of shale gas to be shipped from the U.S., according to a person familiar with the Continue Reading
J.P. Morgan Chase & Co. expects to further build reserves related to potential energy losses in the first quarter as the prolonged decline in oil prices continues to hit U.S. Continue Reading
With geology akin to a wet sponge and fragile underground aquifers that supply almost all its drinking water, Florida has never been considered part of the agitated battle over fracking Continue Reading
U.S. gasoline consumption increased by more than 2.6 percent last year thanks to a combination of lower oil prices and economic growth. In volume terms, consumption rose by around 240,000 Continue Reading
After a delay of several months the US Energy Information Administration has published the latest international energy statistics Fig 1: World’s incremental crude oil production How Fig 1 is created: Continue Reading
As oil and gas prices have tumbled, Exxon and Shell have been forced to retreat. With oil barely above $30 a barrel, they’re cutting spending, including some costly, high-risk mega-projects. Continue Reading
The chief executive of leading Canadian oil producer Suncor Energy Inc. said on Tuesday that his company will increase output even if crude prices weaken further while vowing it will Continue Reading
The ruble weakened the most in emerging markets as Rabobank said the currency could fall further after Iran called a Russian-Saudi plan to freeze output “ridiculous.” The currency declined 2.2 Continue Reading
Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016. Oil futures fell Continue Reading
Oil prices jumped on Monday following steep losses in the previous session, supported by a fall the U.S. rig count, but analysts said general oversupply was keeping the market weak. Continue Reading
The world’s biggest oil producers may consider “other steps” to eliminate a persistent global oversupply if a recent deal to freeze current output holds firm for several months, the top Continue Reading
Production freeze will be re-evaluated after 3-4 months OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price Continue Reading
The global oil glut will persist into 2017, limiting any chance of a price rebound in the short term as the surplus takes even longer to clear than previously estimated, Continue Reading
Sovereign wealth funds may withdraw $404.3 billion from global stock markets this year if crude prices stay between $30 to $40 per barrel as oil-rich nations seek to shore up Continue Reading
Oil prices are unlikely to significantly rebound for at least a few years, the International Energy Agency projected on Monday, as a top official with the Organization of the Petroleum Continue Reading
