According to insight from a Libyan political analyst, U.N. Special Envoy for Libya Martin Kobler is near to moving forward with plans for Libya without a successful vote of confidence Continue Reading
LONDON—Genel Energy PLC, the oil company chaired by former BP PLC Chief Executive Tony Hayward, reported its worst loss since listing its shares more than four years ago in writing Continue Reading
Impressive gains by Iranian President Hassan Rouhani in heavily handicapped elections to parliament and a clerical body are evidence of an isolated nation eager to move from theocracy to a Continue Reading
Venezuela has been in a tailspin since former President Hugo Chavez died in March 2013. But in addition to the country’s visible economic and political deterioration, another crisis is emerging, Continue Reading
China is finally making progress in curing its coal addiction, but the withdrawal symptoms are starting to hit some of its most vulnerable citizens. The government said on Monday that Continue Reading
The long fuel queues which appeared over the weekend at some major cities across the country have grown worse, Daily Trust findings revealed. This is just as the Nigerian National Continue Reading
China has released new statistics indicating that it used less coal last year than in 2014, lending support to the view that the country, the world’s largest emitter of carbon Continue Reading
Two Nigerian communities can sue Royal Dutch Shell PLC’s Nigerian unit in the U.K. over oil spills in the West African country, a London court ruled Wednesday, testing whether energy Continue Reading
As China slims down its bloated steel sector, the western region of Xinjiang is feeling the pain even more than the industry’s heartland to the east, threatening efforts to develop Continue Reading
Japan’s Tokyo Gas signed a heads of agreement with Diamond Gas International, a fully owned subsidiary of Mitsubishi Corp, to buy about 200,000 mt/year of LNG, or three cargoes a Continue Reading
ExxonMobil, the world’s largest listed oil company, expects its production in 2020 to be roughly the same as last year, as cuts in investment prompted by the low price of Continue Reading
Exxon Mobil Corp said on Wednesday it would continue to cut spending as long as crude prices remain low, but the world’s largest publicly traded oil company added it may Continue Reading
Plans to more than double exports by 2025 to 31 mil mt/year Russia’s Gazprom Neft said Wednesday that it increased its crude output last year due to higher production from Continue Reading
The energy meltdown has taken bank stocks hostage. Investors should cut them free. Fear that oil’s crash will spawn losses that blow holes in big-bank balance sheets are somewhat understandable. Continue Reading
As more oil and gas explorers head to bankruptcy court and try to exit pipeline and fuel-transport contracts, midstream companies are mobilizing to protect the deals meant to compensate them Continue Reading
The integration with fellow services company Cameron International will help drive momentum forward as the market recovers, Schlumberger said. Schlumberger made the offer for the Houston-based maker of tools for Continue Reading
Following a successful 2015 auction, Norwegian energy company Statoil said it was building a better position in the emerging reserve potential offshore Ireland. Statoil, alongside Exxon Mobil, was awarded the Continue Reading
A Canadian subsidiary of China National Offshore Oil Corp. said it was reducing its headcount as the industry works through a weakened oil economy. Subsidiary Nexen Energy said payrolls would Continue Reading
The plunge in the peso has throttled the purchasing power of Silvia Guerra’s most important customers: shoppers from south-of-the-border cities like Nuevo Laredo, Monterrey and Saltillo who walk over the Continue Reading
Exxon Mobil Corp. scaled back its production target and said spending on capital projects will continue to drop through the end of next year as the rout in oil and Continue Reading
A gusher on Spindletop Hill in Beaumont, Texas, on Jan. 10, 1901. U.S. rig count set to fall below historical low of 488 soon The energy business in the U.S. Continue Reading
Aubrey McClendon was killed in a car crash in Oklahoma City Wednesday, police said. His death comes a day after he was charged with rigging bids for oil and natural Continue Reading
The Kremlin confirmed the directors at Russia’s major oil companies agreed to a proposal to hold production levels static in an effort to stimulate the market. Russian President Vladimir Putin Continue Reading
Russia must continue work with some other leading oil producers on freezing their crude output at the level of January, tentatively agreed in Doha last month, in order to stabilize Continue Reading
But it may just be more wishful thinking The world’s major oil exporting economies have been putting together an agreement to freeze oil production levels, and Russia’s energy minister is Continue Reading
Our current society is one based on whim. Whatever we want can be had if we have the money. Not only can we have what we want any time we Continue Reading
Oil prices fell on Wednesday, ending a recent rally after an industry group predicted larger-than-expected increase in U.S. crude stockpiles. The American Petroleum Institute reported late Tuesday that U.S. crude Continue Reading
Oil edged further below $37 a barrel on Wednesday as an industry report showing a rise in U.S. crude stockpiles to a new record countered support from producer efforts to Continue Reading
Oil markets rose to a two-month high Tuesday as traders focused on the possibility of an output agreement among large producers. Russia’s energy minister said Tuesday that a “critical mass” Continue Reading
Global oil prices appear to have bottomed out and are expected to rise through this year as investment cuts help to reduce a supply glut, a senior analyst at the Continue Reading
Oil prices rose over 1 percent on Tuesday, shrugging off a slump in China’s manufacturing sector that stirred fears of slowing demand growth, with markets instead focusing on a fall Continue Reading
Natural-gas prices rose Tuesday, erasing earlier losses, as traders bet that ultralow prices would help shrink the glut of the fuel. The natural-gas market is oversupplied, as mild weather has Continue Reading
Have we reached the beginning of the end for the biggest oil crash in a generation? Maybe, says one prominent energy research firm. The global crude glut that’s been weighing Continue Reading
A “critical mass” of oil-producing countries have agreed to freeze oil production, Russia’s energy minister said Tuesday, as African, Latin American and Persian Gulf producers expressed optimism about joining the Continue Reading
Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. It won’t be regional nemesis Iran, a resurgent Iraq Continue Reading
The March bidweek national average natural gas price fell 61 cents to $1.60/MMBtu as the market expected the winter season to end with continuing mild demand. The March bidweek price Continue Reading
High oil price volatility signals that the market has not yet decided the future direction of the oil price. Global production was marginally lower in January, but outside of the Continue Reading
Iraq’s oil sales dipped in February, though the federal government’s exports remained near historic highs.Inclement weather was likely the culprit behind a slight reduction in exports from the Basra Gulf.Exports Continue Reading
Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. It won’t be regional nemesis Iran, a resurgent Iraq Continue Reading
National Bank of Abu Dhabi PJSC, the United Arab Emirates’ largest bank, said the supply of dollars in the country is drying up as the region grapples with the impact Continue Reading
As slumping oil prices squeeze Saudi Arabia’s finances, a few big hedge funds are wagering that the kingdom will be forced to abandon a three-decade-old currency peg that has been Continue Reading
Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing Continue Reading
Iraq’s southern oil exports dropped slightly in February to an average of 3.225 million barrels per day (bpd), the oil ministry said on Tuesday. Shipments from the southern terminals in Continue Reading
OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according to OPEC sources and delegates, as it will be too Continue Reading
The United Kingdom will send a group of 20 soldiers to Tunisia to prevent Islamic State fighters from crossing the country’s border with Libya, British Defense Minister Michael Fallon said, Continue Reading
The leaders of Uganda and Tanzania agreed at a private meeting on Tuesday to build a crude pipeline across their countries, connecting landlocked oilfields to the Indian Ocean, the Tanzanian Continue Reading
To boost gas use across southern Africa A cooperation agreement has been signed to build a $6 billion, 2,600 km pipeline to send natural gas from offshore Mozambique to South Continue Reading
Oil giant Shell is being sued in London for the second time in five years over spills in the Niger Delta. Two communities are claiming compensation and want Shell to Continue Reading
The International Energy Administration (IEA) expected Nigeria’s oil production to decline by 70,000 barrels per day (bpd) by 2021 to 1.85 million bpd due to reduction in investment in the Continue Reading
Failure of Shell Petroleum Development Company, SPDC , to ensure environmental protection by maintaining and protecting oil pipelines may leave it vulnerable to pay series of compensation claims from several Continue Reading
