The ruble weakened the most among currencies worldwide, catching up with the biggest decline in oil in more than a month, as Russian markets reopened following a two-day holiday. The Continue Reading
Royal Dutch Shell PLC said Wednesday that it would bring the hammer down harder on spending as it contends with a nearly two-year slump in oil prices that dragged the Continue Reading
The Energy and Climate Change Committee backed the UK government’s draft legislation on energy but urged the government and Ofgem to keep decision-making processes transparent. In a report published on Continue Reading
Repsol SA said Thursday its first-quarter net profit fell by almost half as falling energy prices hit Spain’s largest oil company. Repsol said net profit in the first quarter was Continue Reading
Oil giant Royal Dutch Shell’s chief financial officer Simon Henry said Wednesday the company would… Royal Dutch Shell sees itself as the Mario Draghi of oil companies. While rivals set Continue Reading
Oil prices fluctuated Wednesday ahead of key U.S. supply data as investors assessed the scale of the global supply glut. Oil prices have jumped by more than 60% since their Continue Reading
Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang. International Brent Continue Reading
When looking at some of the key figures for oil and gas this week, we see that oil prices have hit the ceiling at $48, while the U.S. rig count Continue Reading
Oil prices fell on Tuesday as concerns over Middle East supply continued to dampen sentiment in the market. The global crude benchmark Brent was down 0.33% at $45.48 for July Continue Reading
Iraq’s federal government exported a record amount of oil in April, netting the most oil revenue Iraq has generated in five months.The Oil Ministry said it had exported an average Continue Reading
European companies flocking back to Iran are doing so without their favored lenders at their side. Less than two years after BNP Paribas SA agreed to pay a record $9 Continue Reading
The Islamic State militant group (ISIS) has taken to selling chickens and eggs in the streets of its de-facto North African capital as its cash reserves continue to be damaged Continue Reading
The run-off in Iran’s parliamentary elections seems to have given Hassan Rouhani, the centrist president, a workable parliamentary majority if his followers combine with reformists and independent conservatives against Islamist Continue Reading
OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim for tighter control of the oil Continue Reading
Venezuelan state oil firm PDVSA has issued at least $310 million in debt to companies including General Electric Co ( GE.N ) as it negotiates private issuances to pay off Continue Reading
Venezuelan bonds tumbled Tuesday after IPD Latin America said the country’s oil production fell more than investors had expected. The yield on the country’s benchmark dollar bond due in 2027 Continue Reading
The winners of acreage from the first three bidding rounds in Mexico last year are moving ahead on plans to develop oil from the country’s major energy reforms, with the Continue Reading
Logistical bottlenecks and swelling crude inventories will soon force China’s independent refiners to cut back on a surge of imports, possibly threatening a recent recovery in oil prices, said a Continue Reading
Crude oil prices retreated Tuesday for the second straight day after Chinese data showed a contraction in the nation’s manufacturing sector. A January collapse in the Chinese stock market helped Continue Reading
Chinese authorities are training their sights on a new set of targets: economists, analysts and business reporters with gloomy views on China’s economy. Securities regulators, media censors and other government Continue Reading
China has so much oil that it is becoming an exporter of refined products as demand softens at home. So why are oil prices going to the fifties? (Photo by Continue Reading
Chinese regulators appear to have successfully popped a mini-bubble for now in steel and other commodity futures, scaring off speculators who piled in last month to drive steep gains in Continue Reading
China’s falling oil output and sliding U.S. production may help rebalance a market struggling to recover from the worst price crash in a generation, according to Standard Chartered Plc. Output Continue Reading
The U.S. Energy Department said it has $25 million in funding to help software developers and utility provides better integrate solar power to the grid. “Our ongoing grid modernization work Continue Reading
Oil production in key U.S. shale formations declined and, while a recovery in crude oil prices is an incentive, risks do remain, market analysis finds. Platts Analytics finds oil production Continue Reading
Halliburton Chief Executive Dave Lesar said Tuesday in his first live remarks since the failed merger was announced Sunday that his company still wants to be a one-stop-shop for exploration Continue Reading
Encana Corp. on Tuesday reported a bigger-than-expected quarterly loss and a 79% slump in cash flow as sharply lower oil and gas prices continued to hurt the energy producer’s results. Continue Reading
Valero Energy Corp. reported its profit nearly halved in the first quarter of the year as the refiner’s margins contracted on depressed gasoline and crude oil prices. Shares slipped 2.9% Continue Reading
Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent. While the House of Saud remains Continue Reading
Six mega-trends are combining to persistently drive gasoline prices higher until price kills demand: Peak Fracking occurred in June 2015 . Since Peak Fracking, US Oil Production has decreased approximately Continue Reading
In 2010, Molly Eagen gave herself a challenge: For 100 days the Minneapolis resident would try to live without oil . Eagen, an architecture student at the time, took the Continue Reading
The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after this week’s Continue Reading
After cutting spending and staff levels to the bone, U.S. oil executives say they are getting ready for new drilling projects as a 50 percent increase in crude prices since Continue Reading
Devon Energy Corp’s ( DVN.N ) oil output exceeded its expectations by 5,000 barrels per day in the first quarter, the company said on Tuesday, prompting it to raise its Continue Reading
Alberta’s largest-ever evacuation from a wildfire has forced tens of thousands people to flee Fort McMurray and prompted Suncor Energy Inc. to reduce output in Canada’s main oil-sands region. Oil Continue Reading
The U.S. is importing more foreign crude than it has in years, becoming one of the last ports of call for many oil-producing nations despite a glut of crude from Continue Reading
U.S. refiners, which posted robust profits the last 18 months even as other parts of the oil business were racked by low crude prices, finally saw their roll come to Continue Reading
North Dakota’s top oil regulator sent out a message the other day to the leaders of Williston: Get Ready. “This is going to come back pretty hard and pretty rapidly,” Continue Reading
A BP subsidiary trying to pull gas from offshore Azerbaijan said it doled out a $1.5 billion contract to help get gas flowing within the next two years. BP, working Continue Reading
Big news in energy project finance this week, with a mega-project that no one thought could succeed coming through with a massive finance package. That’s the Yamal liquefied natural gas Continue Reading
The ruble weakened the most among currencies worldwide, catching up with the biggest decline in oil in more than a month, as Russian markets reopened following a two-day holiday. The Continue Reading
The head of Shell has said he would accelerate the cost savings expected from its recent £35bn takeover of rival BG Group, as the company reported a near 60 per Continue Reading
Much of India is reeling from a heat wave and severe drought conditions that have decimated crops, killed livestock and left at least 330 million Indians without enough water for Continue Reading
Norway’s $870 billion sovereign wealth fund (SWF) is the largest in the world, and it’s now planning to use its prowess to force supergiants Exxon Mobil and Chevron to report Continue Reading
Oil traded near $45 a barrel before weekly U.S. government data forecast to show rising stockpiles kept crude supplies at the highest level in more than eight decades. Futures rose Continue Reading
At first glance, oil prices have rallied — a lot. Look closer, however, and the market is still pricing the ” lower-for-longer ” mantra, much as it did at the Continue Reading
An offshore oil platform is seen at the Bouri Oil Field off the coast of Libya August 3, 2015. Oil prices rose on Tuesday as the dollar slipped to an Continue Reading
Forty-two years to the day after the filming of “Jaws” began (in Martha’s Vineyard, Massachusetts), and the bears are smelling blood in the water for a pullback. With certain countries Continue Reading
U.S. and global oil prices sold off Monday on the back of bearish production data from the Organization of the Petroleum Exporting Countries. The OPEC data, obtained by news agency Continue Reading
Hedge funds are rooting for a quick collapse of the U.S. shale boom. Money managers turned the most bullish since May as West Texas Intermediate crude climbed to a five-month Continue Reading
