BP Cites Low Oil Prices in $3.3 Billion Loss, as Industry Toll Mounts
The newest measure of the oil industry ’s falling fortunes came on Tuesday in the form of a $3.3 billion fourth-quarter loss reported by BP . For all of 2015, Continue Reading
BP reports worst annual loss in over 20 years, cuts more jobs
BP ( BP.L ) slumped to its worst annual loss in over 20 years in 2015, the British oil and gas company announced on Tuesday, and said it would cut Continue Reading
BP Profit Falls 91%, Missing Estimates, as Oil Slump Deepens
BP Plc reported a 91 percent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade. The company’s shares fell the most Continue Reading
Russia Bonds Drop as Ruble Rout Seen Reducing Rate-Cut Prospects
Russian government bonds retreated for a third day as oil’s renewed drop weighed on the ruble, spurring speculation the central bank will delay a return to a rate-cut cycle to Continue Reading
Russia Ready to Discuss Oil Production
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
Putin lines up state sell-offs to plug budget hole
Russia is lining up seven major state companies, including Aeroflot, Alrosa, the diamond miner, and Rosneft, for potential privatisation as the Kremlin debates drastic options to replace dwindling oil revenues. Continue Reading
Oil Prices Fall on China Data, Output Doubts
Crude-oil prices fell in early Asia trade Monday, dragged by l ackluster Chinese manufacturing data and dimming prospects of a coordinated production cut by world’s dominant oil producers. On the Continue Reading
Oil falls 2 percent on China data, fading prospect of OPEC action
Oil fell 2 percent on Monday as weak economic data from China, the world’s largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency Continue Reading
Iran Cancels London Summit for New Oil Deals
Iran canceled a London conference to promote new contracts for global oil companies, two weeks after economic sanctions were lifted, because the British government hasn’t been able to issue visas Continue Reading
Mosul dam flows, returning power to IS held city below
The Iraqi government restarted electricity and water supplies to Mosul on Saturday, as engineers running the Mosul hydroelectric dam re-opened its main gates, fearing the barrier wall could otherwise collapse.Turning Continue Reading