The latest oil bet: from too much to too little
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn Continue Reading
IMF program pushes Iraq to pay oil companies
Iraq’s recent agreement with the International Monetary Fund (IMF) is giving oil companies a boost in their quest to secure timely payments from the government.The IMF’s standby agreement, announced in Continue Reading
Eni and BP Make “Significant” Gas Discovery in Egypt
A new natural gas discovery on the coast of Egypt’s Nile Delta has been made by Eni and British Petroleum (BP). The two companies own a 50-50 share of the Continue Reading
Saudi Arabia To Tax Foreign Residence As Oil Crisis Continues
The troubles that Saudi Arabia has been facing due to the plunge in oil prices have been discussed many times, most recently when Saudi authorities ordered banks to stop allowing Continue Reading
Libya conflict: Government forces ‘advance’ against IS-held Sirte
Image caption Government forces say they have already captured several strategic areas on Sirte’s outskirts Significant gains have been made by Libyan government air, sea and land forces fighting to Continue Reading
At Least 24 Dead in Islamic State Bombings in Baghdad
Under an onslaught of bombs and enemy ground offensives aimed at its strongholds in Syria and Iraq, Islamic State hit out again with attacks in crowded public areas of Baghdad Continue Reading
Saudi Aramco IPO: Wall Street’s White Whale
Some deals only happen once in a blue moon. Others only come around once in a generation. But the one Wall Street bankers are eyeing in the deserts of Saudi Continue Reading
Russian company brings more oil online in Iraq
Production from three new wells brought online at the Badra oil field add to the total daily output from OPEC-member Iraq, a Russian field operator said. Russian energy company Gazprom Continue Reading
U.S. hopes to flex energy muscle with oil reserve makeover
The United States boasts the world’s largest stash of emergency oil supplies, yet the country’s ability to influence global crude markets with releases from that reserve has waned. The Obama Continue Reading
Leisure travel helps push U.S. gasoline demand to record: Kemp
Cheaper gasoline prices are spurring significant changes in driving behavior which are in turn propelling a phenomenal increase in motor fuel consumption in the United States. U.S. motorists consumed an Continue Reading