Chinese officials are trying anew to slow an unprecedented money exodus from the country, clamping down on individuals seeking to flee the yuan and making life tougher for companies that Continue Reading
The radioactive rubble has been cleared. Poured concrete has covered the toxic dust. And many workers have traded hazmat suits for surgical masks. Five years ago, a massive earthquake spawned Continue Reading
Petroleum exploration activity in Australia has collapsed in the wake of the plunge in global oil prices over the last 18 months, a period in which the country’s crude production Continue Reading
North Sea Brent crude oil prices averaged $32/barrel (b) in February, a $1/b increase from January. Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in Continue Reading
The Lower 48 states had its warmest winter in 121 years of record-keeping, NOAA announced this morning. Temperatures averaged over the country between December and February were nearly five degrees Continue Reading
The U.S. Energy Department lowered its price expectations for the global Brent crude contract this year and next, saying it expected supplies to grow more than previously anticipated because robust Continue Reading
The Canadian unit of Exxon Mobil Corp. said Tuesday it has agreed to sell its remaining company-owned retail gas stations in Canada to five fuel distributors. Imperial Oil Ltd. said Continue Reading
U.S. companies are cutting emissions voluntarily and buying clean energy at the fastest pace ever, as lower renewable energy prices and easier availability of these sources makes these economical options. Continue Reading
Oil Could Reach $50 By End of 2016 Production to drop to 8.19 million barrels a day in 2017: EIA U.S. crude production will fall to its lowest since 2013 Continue Reading
Chevron Corp. on Tuesday again pared its capital spending budget for next year as the second-biggest U.S. oil company contends with depleted oil and natural gas prices. Chevron is targeting Continue Reading
A federal bankruptcy judge dealt a blow to pipeline operators and other midstream oil companies Tuesday, ruling that Sabine Oil & Gas Corp. can scrap pipeline deals it made before Continue Reading
Chevron Corp. is putting the brakes on all but one major oil project for the foreseeable future as collapsing crude prices make most new investments unprofitable. The world’s third-biggest oil Continue Reading
Sabine Oil & Gas Corp won an important court ruling on Tuesday that will allow the bankrupt energy producer to shed certain pipeline contracts, potentially exposing companies that transport and Continue Reading
While the world focuses on Russia’s oil-freeze talks with OPEC, there are discussions behind closed doors in the Kremlin that will have a much more significant impact on the nation’s Continue Reading
Offshore rig company Transocean said Tuesday payments and delivery for five new drilling rigs was now delayed following an agreement with its contractor. Transocean said it made a mutual agreement Continue Reading
Brent oil halted gains after rising above $40 a barrel for the first time since December on estimates that U.S. stockpiles, already at the highest in eight decades, expanded further. Continue Reading
Goldman Sachs Group Inc. predicted a rally in commodities from iron ore to gold will falter and forecast copper and aluminum prices will slide as much as 20 percent over Continue Reading
Oil prices edged lower on Tuesday after Kuwait said it would only agree to an output freeze if all major producers take part and Goldman Sachs analysts poured cold water Continue Reading
Hedge funds unwound bearish bets at the fastest pace in 10 months as fear of oil sinking to $20 a barrel faded. A lot has happened since Goldman Sachs Group Continue Reading
Oil prices kicked off the week on the rise Monday on hopes that major producers will curtail supply and as better economic data fueled hopes of improving demand. Brent crude, Continue Reading
Major OPEC producers are privately starting to talk about a new oil price equilibrium of $50 a barrel, adding to signs that the market’s long, deep rout is officially over, Continue Reading
Latin American oil producers, including main exporters Venezuela, Colombia, Ecuador and Mexico, will meet in Quito on Friday to seek a common position on global oil prices, the Ecuadorean government Continue Reading
Oil prices are expected to rise gradually over the next five years but will remain well below the pre-crash level, according to a survey of professionals who follow the oil 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 prices extended Continue Reading
The Baker Hughes International Rig Count does not include the US, Canada, any of the FSU countries or inland China. It does include offshore China. That rig count peaked in Continue Reading
Oil exports from northern Iraq nearly halved in February due to the ongoing outage of a pipeline to Turkey, wiping $350 million off the cash-strapped Kurdistan region’s revenues as it Continue Reading
Oil revenue from Iraq’s self-governing Kurdish region dropped more than half last month after a pipeline used to transport crude through Turkey was attacked, further hurting the cash-strapped enclave’s efforts Continue Reading
The Kurdistan region’s oil revenue plummeted by more than half in February, aggravating a financial crisis that has already caused social instability, strikes, and waves of protests. The KRG received Continue Reading
Royal Dutch Shell has paid 1.77 billion euros ($1.94 billion) it owed the National Iranian Oil Company, settling debts after sanctions against the country were lifted in January. The outstanding Continue Reading
The Iranian Oil Ministry said Monday a tanker of crude oil was on its way to Europe for the first time since sanctions eased after July’s nuclear deal. SHANA, the Continue Reading
Iran test-fired several ballistic missiles from silos across the country on Tuesday, the official website of the Islamic Revolutionary Guards Corps (IRGC) said, defying recent U.S. sanctions on its missile Continue Reading
The death sentence of Iranian billionaire Babak Zanjani can be commuted if he cooperates by returning the money he is accused of embezzling from the state, Justice Minister Mostafa Pour Continue Reading
Iranian oil attained a new level of restored legitimacy Monday, with word that a tanker anchored near a Spanish refinery had begun off-loading the first shipment for Europe’s consumption since Continue Reading
France’s Total SA is weeks away from drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Continue Reading
Chevron has started up its massive Gorgon LNG project in Australia and will soon be shipping more of the super-chilled fuel into an oversupplied market, eroding producer revenues but also Continue Reading
Chevron Corp.’s Gorgon natural gas project off Australia’s northwest coast boasts the world’s biggest carbon dioxide storage facility, a jetty more than a mile long and enough steel to build Continue Reading
China’s exports registered their biggest drop in more than five years as weak global demand continues to undercut growth momentum in the world’s second-largest economy. China’s customs administration reported Tuesday Continue Reading
China’s foreign trade contracted much faster than expected last month, the latest sign of weakening global trade and lethargic domestic commodity demand as the country’s economy slows. Exports fell 25.4 Continue Reading
China again pushed market momentum, with weekend economic pledges spilling over to Monday and lifting crude oil prices near the $40 per barrel mark. Chinese Premier Li Kiqiang said during Continue Reading
China’s February trade performance was far worse than economists had expected, with exports tumbling the most in over six years, days after top leaders sought to reassure investors that the Continue Reading
A Chinese industry body said it could review rules covering the import of crude by new entrants after a private refinery failed to secure financing for 1.5 million barrels of Continue Reading
China’s crude imports rose to a record as oil’s crash to the lowest in more than 12 years boosted buying. The world’s biggest energy user increased inbound crude shipments in Continue Reading
Exactly a year ago, Premier Li Keqiang set out the case for difficult industrial overhauls. “This is not nail-clipping,” he warned, “it’s like taking a knife to one’s own flesh.” Continue Reading
Some of China’s top auto makers, facing among the toughest national emissions rules in the world, are lining up behind an emerging battery technology that provides a way to boost Continue Reading
Total gas production across the seven primary US shale plays is expected to fall 450 MMcf/d month on month to a combined 46.308 Bcf/d in April, the Energy Information Administration Continue Reading
The death of shale pioneer Aubrey McClendon leaves a tangled financial legacy that reflects his willingness to risk his personal assets to fund new business ventures, a web that may Continue Reading
Democratic Presidential candidate Hillary Clinton in Flint, Michigan on March 6. Hillary Clinton keeps following Bernie Sanders further to the left, and on Sunday she all but declared herself opposed Continue Reading
No matter how you feel about coal, you can’t deny that it is very dirty stuff. Nor can you argue that our electrified society is anywhere near ready to run Continue Reading
Oklahoma’s oil and gas regulator released an expanded plan on Monday that will curtail wastewater injection volumes and well depth to deal with the state’s increasingly frequent earthquakes. The Oklahoma Continue Reading
Rigzone explores viable solutions for oil and gas companies to sustain the downturn without laying off employees. While 2016 began with a bit of uncertainty for the oil and gas Continue Reading
