Why Saudi Arabia Will Not Win The Oil Price War
Crude oil prices continued to surprise on Tuesday, with the U.S. benchmark adding another 4 percent to $44.60 a barrel. West Texas Intermediate is now up 65 percent since hitting Continue Reading
Long-term oil shortfall predicted by Wood Mackenzie
Global supply-side pressures could reverse within 20 years as low crude oil prices crimp spending on exploration and production, Wood Mackenzie finds. For the fifth week in a row, oil Continue Reading
Oil majors’ results surprise, but output fall, volatile trading lurk
Major oil companies’ first-quarter results have so far confounded expectations, but volatile trading operations and a likely fall in production mean the good times are unlikely to last. Europe’s big Continue Reading
KRG-Iran pipeline talks gain momentum
Iraq’s Kurdistan Regional Government (KRG) is conducting detailed technical planning with Iran that could lead to the construction of the autonomous region’s second oil export pipeline.”It’s serious. Very serious. We’ve Continue Reading
Oil still at center of Libyan conflict
U.N. Support Mission in Libya reminds all parties to respect the sanctity of oil, the country’s main source of revenue. Pictured, Libyan rebels at the western gate of Ajdabiya on Continue Reading
East Libya to Ship More Oil While UN Slams Sales as Illegal
Authorities in eastern Libya pledged to export more crude oil soon, two days after shipping their first cargo in defiance of a national unity government based in Tripoli. A representative Continue Reading
Saudi Aramco sets financing plans for industrial push
A surge of volatility in China’s once placid commodities futures markets has rattled industrial players who use them for hedging, with some taking losses or cutting exposure, driven out by Continue Reading
China’s Biggest Oil Company Posts 52% Decline in 2015 Profit
Total oil, gas output rose 1.8% to 259.5 million metric tons China National Petroleum Corp., the country’s biggest oil and gas producer and the parent of PetroChina Co., said profit Continue Reading
Baker Hughes Gains After Larger-Than-Expected Quarterly Loss
Baker Hughes Inc. gained even after reporting a larger-than-expected first-quarter loss as a financial crisis in the oil industry forces explorers to slash spending. The world’s third-biggest oil services provider Continue Reading
Statoil’s Adjusted Profit Declines to Record Low: Chart
Statoil ASA reported its worst-ever adjusted earnings as crude prices fell the lowest in almost 12 years. Still, the company beat estimates for a loss as cost savings are having Continue Reading