Saudi Arabia’s foreign minister on Friday defended his country’s foreign policy and its stance in Yemen and Syria, insisting that the kingdom has no ambitions beyond its borders. Since taking Continue Reading
Saudi Arabia’s permanent representative in Geneva says his country sent letters to the U.N. humanitarian agency chief calling on aid groups to “be careful” to avoid damage from air strikes Continue Reading
Of all the mysteries surrounding Boko Haram, the marauding militant jihadist group that has terrorized Nigeria and its neighbors, the use of women and girls as suicide bombers is among Continue Reading
The federal government on Thursday in Abuja accused oil majors operating in the country of not being sincere in their plans to downsize their workforce, stating that profit motive is Continue Reading
With the end of the 54-year U.S. trade embargo on Cuba, and Cuban government moves to encourage foreign investors, Cuba is a suddenly attractive venue that is sitting on an Continue Reading
The new opposition-controlled National Assembly in Venezuela plans to speed up moves to oust the government of Nicolas Maduro as economic woes deepen. Parliament speaker Henry Ramos Allup said proposals Continue Reading
In a hospital in the far west of this beleaguered country, the economic crisis took a grim toll in the past week: Six infants died because there wasn’t enough medicine Continue Reading
Venezuela’s highest court has cleared the path for Nicolás Maduro, the president, to enact emergency economic measures after it overruled the country’s new opposition-controlled legislature. The controversial move by the Continue Reading
Venezuela President Nicolas Maduro moved to increase the military’s involvement in the country’s oil and mining industries with the creation of a new state company that will report to the Continue Reading
Mexican state oil company Pemex expects its top-selling Maya heavy crude oil to fall as low as $19 per barrel by the end of March, an internal document seen by Continue Reading
In regard to China’s gas demand growth, will the proverbial glass be half-empty or half-full in 2016? Though touted as the cleanest-burning fossil fuel and a means to help China Continue Reading
The prospect that U.S. oil refiners might respond to rising stockpiles of refined fuels and weakening margins by cutting the amount of crude they process has roiled oil markets in Continue Reading
Big three U.S. plays dropped almost 100 horizontal oil rigs Explorers idled more drilling rigs in U.S. oilfields this week as record supplies begin to make crude prices in the Continue Reading
A utility company got control of a leaking well that spewed natural gas for nearly four months and uprooted thousands of Los Angeles residents. Here’s a look at what needs Continue Reading
A revised survey from the U.S. Energy Information Administration raised the estimated daily oil production from Oklahoma by 100,000 barrels. The EIA said it revisited reported production figures from 2014-15 Continue Reading
U.S. investment firm Blackstone Group said it formed a partnership to help provide financial solutions to the offshore oil and natural gas services sector. Blackstone formed Clarion Offshore Partners to Continue Reading
The company said Friday that it has reached an agreement with 77% of two groups of its unsecured bondholders and 89% of senior lenders, under which each of these groups Continue Reading
Proterra battery-electric buses in service in a 12- vehicle demonstration by Foothill Transit in California offered significant fuel savings compared to similar conventional vehicles, according to a recently published analysis Continue Reading
The US drilling rig count plunged 30 units to 541 during the week ended Feb. 12, continuing another interval of steep declines amid a drilling slump that stretches back to Continue Reading
Oil major LUKOIL has told the Russian government it wants to buy smaller rival Bashneft as the state prepares to sell either a controlling or minority stake in the firm Continue Reading
Alarming new research has found that 4 billion people around the globe — including close to 2 billion in India and China — live in conditions of extreme water scarcity Continue Reading
Oil-futures prices on the New York Mercantile Exchange rebounded Friday on short-covering after touching a more than 12-year low the previous day. Light, sweet crude futures on Nymex for delivery Continue Reading
Oil rebounded from the lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and OPEC reiterated its willingness Continue Reading
Oil prices jumped on Friday on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates. Still, analysts said such a Continue Reading
As crude prices slide toward $25 a barrel, many oil companies have little choice but to start making the steep cost cuts they have avoided up until now, jettisoning every Continue Reading
Oil futures prices on the New York Mercantile Exchange Thursday fell below $27 per barrel as the market largely ignored a drawdown in U.S. crude oil stockpiles amid a wider Continue Reading
U.S. oil prices fell for a six straight day on Thursday, approaching 12-year lows hit last month, weighed by brimming crude inventories and a Goldman Sachs forecast that prices would Continue Reading
Natural gas prices plunged from gains to losses Thursday, going below $2 after new federal data showed stockpiles shrank much less than expected last week. The U.S. Energy Information Administration Continue Reading
There is only a one-letter difference between Cushing and crushing. The latter is what the storage depots at the small Oklahoma town are doing to the global oil market this Continue Reading
Oil prices fell on Thursday as a growing glut of crude starts to strain storage options for traders, with supply from Opec and other producers still outstripping demand. The US Continue Reading
Major powers agreed on Friday to a cessation of hostilities in Syria set to begin in a week and to provide rapid humanitarian access to besieged Syrian towns, but failed Continue Reading
Secretary of State John Kerry and his Russian counterpart, Sergey V. Lavrov, announced that they had agreed on the delivery over the next few days of desperately needed aid to Continue Reading
The flow of trade into Basra has slowed and hundreds of people over the past two weeks have taken to the streets in protest after the federal government imposed higher Continue Reading
Iran’s cancellation of a conference when it had been due to unveil investment contracts to international oil firms signals that political feuding is disrupting plans to revive its energy sector. Continue Reading
OPEC producer Iran has cut its Heavy crude price for export to the Mediterranean by a larger extent compared with top exporter Saudi Arabia as Tehran seeks to attract more Continue Reading
Kurdish-focused energy company DNO International said revenues for last year were sharply lower, though it ended 2015 with an increase in cash balance. DNO, which has headquarters in Oslo, said Continue Reading
Plunging oil prices have pitched Iraq into a severe financial crisis as it struggles to combat the Islamic State group, play host to millions of refugees and rebuild cities and Continue Reading
Gas from the Majnoon oil field in Basra is now contributing fuel to Iraq’s power grid, reducing the amount that is wastefully burned from flares.On Tuesday, 70 million standard cubic Continue Reading
Nigeria’s crude oil output increased by 252,800 barrels per day in January, up from the 1.697 million barrels per day it recorded in December to 1.949 million barrels per day. Continue Reading
Some OPEC countries are trying to achieve a consensus among the group and key non-members for an oil production “freeze”, sources familiar with the discussions say, in an attempt to Continue Reading
Venezuela’s Supreme Court declared an emergency decree President Nicolas Maduro says he needs to fight triple-digit inflation and the deepest recession in over a decade to be legal and valid, Continue Reading
Fuel producers from India to South Korea are finding that rising refined products from China are cutting the profit margins they’ve enjoyed from cheap oil to the lowest in more Continue Reading
When business slows and owners of ships and offshore oil rigs need a place to store their unneeded vessels, Saravanan Krishna suddenly becomes one of the industry’s most popular executives. Continue Reading
China pumps more than 4 million barrels of oil a day (only Saudi Arabia, the United States, Russia, and on a good day Canada produce more), but output is expected Continue Reading
Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA’s Drilling Productivity Report (DPR), and accounted for more than half of total Continue Reading
Explorers in US oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again. (Bloomberg) Continue Reading
WTI Crude Falls to Twelve-Year Low Refineries in the middle of the US are curtailing crude processing as profits shrink, leaving behind oil that’s adding to a supply glut and Continue Reading
In the three decades since BG sprung out of the U.K.’s struggling state-run gas firm, it has become an international energy company with assets including highly prized oil fields in Continue Reading
Struggling oil and gas companies are maxing out revolving credit lines typically used to cover short-term funding gaps, raising fresh concerns about banks’ exposure to the decline in energy prices. Continue Reading
Two recent drinking water investigations in Texas show dangerous levels of contamination. The larger study tested 550 water samples collected from public and private water wells in the north Texas Continue Reading
