Brazil’s Petrobras will slash its five-year investment plan by about one-fifth next month as low oil prices, massive debt and fallout from a corruption scandal hobble its ability to fund Continue Reading
From black gold to black hole. For a stark illustration of how oil price pain is spreading, look no further than the humbled state energy champions of Latin America. The Continue Reading
It isn’t just sweaters the kindergartners are wearing as they pour out of their classrooms onto the lawns of the American Embassy School in India ’s capital city. They are Continue Reading
China aims to lay off 5-6 million workers from “zombie enterprises” over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two sources Continue Reading
China’s diminishing economic momentum ebbed further in the beginning of the year, giving policy makers more reasons to ease credit and boost government spending to cushion the slowdown. Getting a Continue Reading
China’s independent oil refiners will form an alliance to purchase crude, in an effort to improve their negotiating stance with suppliers and possibly soothe credit-risk concerns surrounding the little-known companies. Continue Reading
The rush of Chinese diesel exports that’s been tormenting Asian refiners may be slowing. Outbound shipments, which reached a record in 2015, may be about 20 percent lower this year Continue Reading
Moody’s Investors Service cut its outlook for the Chinese government’s credit ratings, due to growing concerns about a slowing economy , shrinking foreign reserves and a weakening currency . The Continue Reading
Three former Tokyo Electric Power (Tepco) executives were indicted on Monday for failing to take safety measures to prevent the nuclear disaster at Fukushima Daiichi plant in 2011, a Tokyo Continue Reading
Anadarko Petroleum Corp. rose after announcing plans to sell $3 billion in assets this year while cutting spending on new wells and other projects by almost 50 percent as the Continue Reading
The retail price for gasoline in the United States is moving higher at its fastest clip in four months as seasonal and market pressures mount, analysis finds. Motor club AAA Continue Reading
Texas crude oil production showed a decrease in December as crude oil prices dragged on state potential, though banks are seeing signs of life. The Railroad Commission of Texas, the Continue Reading
Aubrey McClendon, former chief executive officer of Chesapeake Energy Corp and a legend in the U.S. energy industry, was charged on Tuesday with conspiring to rig bids to buy oil Continue Reading
Aubrey McClendon has been called a pioneer and a natural gas evangelist. Now he might just be the architect of his own destruction. Three years after being forced out of Continue Reading
Russian oil companies back the idea to freeze output at near-record levels reached in January, but did not support any proposals to cut oil production to lift global prices, Energy Continue Reading
The queue of ships waiting outside Europe’s biggest port and oil-trading hub of Rotterdam has grown to the longest in seven years as a global supply glut fills storage capacity. Continue Reading
Russia’s ruble rose the most in emerging markets as a surge in the price of oil nearly erased the currency’s losses for 2016. The ruble advanced 1.7 percent to 73.92 Continue Reading
British energy company said inland shale oil basin has obvious commercial potential. Photo courtesy of U.K. Oil & Gas Investments LONDON, March 1 (UPI) — A British company tapping into Continue Reading
The British Geological Survey said Tuesday it’s uncovered data that could help address concerns about seismic activity associated with hydraulic fracturing. BGS last year took the lead in a consortium Continue Reading
Russian economic officials mulling the privatization of some parts of the state oil sector in a potential move to shore up federal revenue. Photo by sakhorn/Shutterstock MOSCOW, March 1 (UPI) 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
Russia in February pumped oil at the same rate in January of 10.88 million barrels per day (bpd), an almost 30-year high, after some leading producer countries struck a preliminary Continue Reading
A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016. Oil prices Continue Reading
Oil prices rose Monday on signs that U.S. drilling activity is hitting new lows, though new federal data showed that declines in U.S. oil production slowed in December. Despite plummeting Continue Reading
Brent crude futures edged up on Monday after already making up ground last week as indications mounted of the market bottoming out, but analysts warned that downward risk remained and Continue Reading
World oil prices are controlled by the amount of crude oil stored at Cushing, Oklahoma. That’s because Cushing is the pricing point for WTI (West Texas Intermediate) oil prices, the Continue Reading
Up to 50 oil tankers are waiting to unload cargo in the port of Rotterdam, the highest number since 2009 and another sign that, amid a glut, crude is struggling Continue Reading
Iraq was the second-leading contributor to the growth in global oil supply in 2015, behind only the United States. Crude oil production in Iraq, including fields in the Kurdistan Region Continue Reading
People attend a protest against forces loyal to Syria’s President Bashar al-Assad, Russia and the Syrian Democratic forces, in Tariq al-Bab neighbourhood of Aleppo, Syria, February 29, 2016. A senior Continue Reading
OPEC oil output has fallen in February from the highest monthly level in recent history, a Reuters survey found on Monday, due to a halt in Iraq’s northern exports and Continue Reading
OPEC crude production slipped in February from the highest level in Bloomberg data going back 20 years. The Organization of Petroleum Exporting Countries reduced production by 79,000 barrels to 33.06 Continue Reading
Genel Energy takes a charge on operations in the Kurdish north of Iraq because of a weak market and a lower reserve estimate. Photo courtesy of Genel Energy LONDON, Feb. Continue Reading
TEHRAN — Nearly three years after Iran ’s reform-minded president was elected, the most reactionary voices in Iranian politics are losing ground to moderates buoyed by the sweeping nuclear deal Continue Reading
Arab states’ petrodollars are burning fast and that’s bad news for emerging markets, real estate and, above all, Asian securities. Gulf Cooperation Council countries have to refinance $94 billion of Continue Reading
Heavyweight oil producer group OPEC stepped into the ring with young upstart US shale back in November 2014 and delivered its best shot. Led by prizefighter Saudi Arabia, it decided Continue Reading
The oil-price collapse will compel all producers to freeze output and no early OPEC meeting can take place without such a move, the United Arab Emirates’ energy minister said. “This Continue Reading
Petroleos Mexicanos’s financial woes continue to mount as the country’s biggest company reported a 168.9 billion pesos ($9.3 billion) loss in the fourth quarter and laid out plans for deep Continue Reading
Mexico’s state oil company Petróleos Mexicanos, reeling from the drop in world oil prices, will cut 100 billion pesos ($5.5 billion) from its budget this year by deferring investments and Continue Reading
Petroliam Nasional Bhd., Malaysia’s state oil company, announced management changes and plans to cut workers as it seeks to trim operating costs to cope with the worst price slump in Continue Reading
Mexico’s state-owned oil company is taking deepwater development off its plate for now. Driven to rip $5.5 billion out of its budget this year to cope with a lengthening market Continue Reading
Forecast Given their fragmented, decentralized structure, Venezuela’s colectivos would have a difficult time openly confronting security forces in the coming year. These groups will try to maintain their independence in Continue Reading
China’s switch to higher quality gasoline is being felt half a world away as barges bringing supplies for export clog up Amsterdam’s port, which ships more of the fuel than Continue Reading
China’s central bank is increasingly finding itself in a bind, balancing its need to continue easing credit to support economic growth against its stated goal of keeping the Chinese currency Continue Reading
China aims to lay off 5-6 million workers from “zombie enterprises” over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two sources Continue Reading
Activity in China’s manufacturing sector weakened sharply last month, according to two indexes, as the world’s second-largest economy continues to struggle with overcapacity and anemic demand. China’s official manufacturing purchasing Continue Reading
Activity in China’s factory and services sectors fell last month to its lowest level since the aftermath of the global financial crisis, the latest signal of a deepening economic slowdown Continue Reading
Some of America’s biggest shale producers are beginning to ratchet back oil and gas production for the first time in years, bending to the reality that a global glut will Continue Reading
It was a tumultuous week in the world of hydraulic fracturing (“fracking”) for shale oil and gas, with a few of the biggest companies in the U.S. announcing temporary shutdowns Continue Reading
The North American Baker Hughes Rig Count came out Friday. The decline continues. Baker Hughes gives an oil and gas breakout for every basin and state with five years of Continue Reading
With crude oil trying to stage a recovery, the rig count in North Dakota held steady despite a net decrease in the United States, state data for Monday show. State Continue Reading
