The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that Continue Reading
About six months ago, when the oil price dipped below $40 a barrel for the first time in six years, Nicholas Samy traded in his gas-guzzling truck and bought a Continue Reading
The head of Russian state-run oil company Rosneft on Wednesday floated the idea of a coordinated output cut by major oil-producing countries to prop up sagging prices but fell short Continue Reading
BP is planning for oil prices to stay low for the first six months of the year and expects surplus production to only start diminishing when storage tanks fill up Continue Reading
Russia’s state-owned oil company Rosneft could move toward privatization, though oil markets would first have to stage a major recovery, the CEO said. Rosneft Chief Executive Officer Igor Sechin is Continue Reading
Africa-focused Tullow Oil said the challenge for 2016 was to navigate the weakened market with key offshore priorities intact while cutting investments. Tullow said revenues were down 27 percent for Continue Reading
BP PLC Chief Executive Bob Dudley called on governments Wednesday to do more to encourage a shift to lower-carbon fuels, warning that the world is on course to see global Continue Reading
The most powerful figure in Russia’s oil industry on Wednesday signalled his steadfast opposition to combining with Opec to reverse the crude price rout through co-ordinated cuts in production. Igor Continue Reading
Ukraine’s political elite is hoping that plummeting oil prices will restrain neighboring Russia’s interventionist ambitions—and give Western sanctions on Russia a bit more bite. Recent diplomatic overtures have raised hopes Continue Reading
You cannot understand the vulnerable state of the U.S. and global economies — and nervous stock markets — without coming to grips with the crash of “emerging-market” countries. Led by Continue Reading
