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
