Volkswagen faces billions of dollars in potential new penalties after the top US consumer watchdog hit the automaker with a lawsuit over its emissions cheating scandal. The Federal Trade Commission is Continue Reading
Butanes include both normal butane and isobutane. U.S. production of hydrocarbon gas liquids (HGL)—a group of products including ethane, propane, butanes, and natural gasoline—is expected to increase from 3.86 million Continue Reading
BP plc, headquartered in the UK, has announced it will lay off 500 of its workers in Houston. According to a letter to the Texas Workforce Commission, the oil and Continue Reading
While the upstream sector continues to struggle in the low oil price environment, Rigzone explores possible opportunities in midstream. Judging by the many headlines we’ve seen over the past 18 Continue Reading
After heading as far as Israel and China, unrestricted U.S. crude oil exports are set for another first since a 40-year ban on overseas sales was lifted three months ago: Continue Reading
Massachusetts became the latest state investigating whether Exxon Mobil Corp. misled investors and the public about how climate change may affect its business. News of the state’s probe came as Continue Reading
Russia’s ruble reversed losses after Federal Reserve Chair Janet Yellen urged caution on raising interest rates. The nation’s stock index fell, extending its longest stretch of losses since 2011, as Continue Reading
The head of Russian oil company Rosneft told the president that investments for the year will be 30 percent higher despite the pressure from low oil prices. Russian President Vladimir Continue Reading
Just a few years ago, when oil sold for about $100 a barrel, banks here were lining up to give international oil explorers access to billions of dollars to finance Continue Reading
Abengoa SA has filed for bankruptcy protection in the U.S. as the Spanish energy company continues talks with its banks and bondholders to agree on its plan to restructure billions Continue Reading
Oil declined for a fourth day before weekly U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades. Futures lost Continue Reading
Oil futures edged lower for a second straight session on Monday in thin trade as European markets observed the Easter holiday and as hedge funds and other big speculators were Continue Reading
Oil prices edged down Monday, extending last week’s decline, as traders returned from a long holiday weekend to a market with little improvement in supply-and-demand conditions. The benchmark U.S. contract Continue Reading
Even as U.S. oil production started to slide in the second half of 2015, the downside risks to oil prices continued to dominate. In the third quarter, broad-based manufacturing softness Continue Reading
Oil enthusiasts haven’t been jumping on board the latest rally. As crude has soared 50 percent since Feb. 11, the number of bets on increased prices has barely budged. Instead, Continue Reading
The world’s biggest oil companies are draining their petroleum reserves faster than they are replacing them—a symptom of how a deep oil-price decline is reshaping the energy industry’s priorities. In Continue Reading
The falling dominoes that are major liquefied natural gas (LNG) projects show that the industry needs a re-think on how it is structured and operates. Up until now LNG has Continue Reading
The political economy of oil prices in the United States is complicated. The United States is the world’s largest oil consumer and one of its biggest importers. But it is Continue Reading
Since the start of 2016, oil prices have swung between $27 and $42 per barrel, about a quarter of the 2008 peak crude oil price of $145. On February 16, Continue Reading
Unlike other producers, including U.S. shale producers, it maintained financial strength and flexibility during the last boom. When it began to shift the paradigm of global supply, the kingdom was Continue Reading
M3 shrinks in Feb. from a year ago for first time since 2000 The Saudi economy is showing deepening signs of strain under the weight of cheap oil. Saudi consumers Continue Reading
U.N. Secretary-General Ban Ki-moon, center, and Iraqi Prime Minister Haider Al-Abadi, right, review economic threats in the era of terrorism and lower crude oil prices. U.N. Photo by Mark Garten Continue Reading
Saudi Arabia lost market share in more than half of the most important countries it sold crude to in the past three years, even as the kingdom increased output to Continue Reading
Crude at $45 to $50 a barrel is enough to encourage India’s own exploration without squeezing fuel consumers, according to the oil minister of the world’s fourth-largest user. While the Continue Reading
A toxic convergence of national, corporate and personal interest on two competing oil pipeline routes is threatening regional integration in a dramatic saga involving Kenya, Uganda and Tanzania. Kenya and Continue Reading
Tanzania is highly optimistic of striking an agreement with Uganda over construction of the 1,410-kilometre crude oil pipeline from Hoima, given the former’s competitive advantage. It is against this backdrop Continue Reading
Serious delays to load and unload vessels at Venezuela’s main crude port started to create a backlog of tankers last week that is now extending to the island of Curacao, Continue Reading
Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries because of the oil price crash, according to people with knowledge of the matter. The company will Continue Reading
The new $1.3 billion Cadillac factory on the outskirts of Shanghai is a shrine to modern manufacturing, the kind of facility that automakers all over the world dream of building Continue Reading
Five years after the accident at Fukushima I in Japan resulted in three reactor meltdowns, the global nuclear industry is spending $47 billion on safety enhancements mandated after the accident Continue Reading
Japan this month (March) marked the fifth anniversary of the Fukushima nuclear disaster with a series of sombre remembrance ceremonies across the country. At 2.46pm local time (1.46pm in Singapore) Continue Reading
U.S. wind energy advocates scored a second victory after the federal government gave its support to a transmission line to service the wind power sector. For the first time, the Continue Reading
While investors think the worst may be passed for many in the oil patch, the stock rebound in the sector may well be overdone. Take Ensco PLC, which finished last Continue Reading
The U.S. Geological Survey (USGS) published its first-ever maps showing potential ground-shaking hazards from human-induced and natural earthquakes Monday. Previously, USGS maps only showed natural earthquake hazards. But concerns over Continue Reading
With energy stocks enjoying the biggest rebound since the beginning of the oil rout, short sellers have shifted their sights to regional banks that do business with the industry. Bearish Continue Reading
The Obama administration on Monday offered a comprehensive legal defense of its signature climate-change regulation limiting carbon emissions from power plants, telling an appeals court that the rule is well Continue Reading
Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period Continue Reading
The rise of fracking has reshaped the global energy landscape. It recently hit a new milestone in the U.S. Fracking now accounts for more than half of all U.S. oil Continue Reading
After many years of decline, production of petroleum and other liquids in the United Kingdom (U.K.) increased by about 100,000 barrels per day (b/d) in 2015. The largest contribution to Continue Reading
Oil rose for the first time in three sessions after the number of active rigs fell in the U.S., potentially easing a supply glut. Futures advanced as much as 1.7 Continue Reading
Oil prices rose on Monday after a three-day break, adding to gains in recent weeks as optimism holds that a production freeze among major producers may be implemented, but volumes Continue Reading
A Saudi-led military coalition on Monday said it had completed a prisoner swap in Yemen, exchanging nine Saudi prisoners for 109 Yemeni nationals ahead of a planned truce and peace Continue Reading
Oil enthusiasts haven’t been jumping on board the latest rally. As crude has soared 50 percent since Feb. 11, the number of bets on increased prices has barely budged. Instead, Continue Reading
Israel’s High Court blocked the government’s controversial proposal to regulate the natural gas industry, in a dramatic ruling that complicates plans to develop the country’s largest field and conclude export Continue Reading
BEIJING, March 28 (Xinhua) — China’s commercial crude oil stocks increased 1.08 percent in February over January, while stocks of refined oil products went up 17.34 percent, data monitored by Continue Reading
China’s love of cars and the gasoline that runs them is exacerbating an oversupply in another fuel decried by refiners across Asia, according to Bank of China International. While refineries Continue Reading
Israel’s Supreme Court on Sunday ruled against a landmark deal to develop and export the country’s offshore gas reserves, a setback for Prime Minister Benjamin Netanyahu, who campaigned for it. Continue Reading
For energy investors, it is all about location, location, location. That is the message that emerges in the prices of bonds of oil-and-gas companies operating across North America. Bonds of Continue Reading
Investors who bought $50 million of stock that the… Energy companies tapping the stock market to fill their coffers are deepening the pain for shareholders. These firms have come to Continue Reading
Shell has said it plans to raise $30bn from asset sales worldwide as it moves to offset the cost of the BG acquisition, completed last month just weeks after oil Continue Reading
