Work slated for Barents, North seas
The Norwegian government said it gave its consent for new oil and natural gas operations offshore in the North Sea and Barents Sea, with Statoil the big winner. Statoil was Continue Reading
Chesapeake Energy cut debt by $1 billion
Struggling U.S. shale player Chesapeake Energy said it reported a loss for the second quarter, but reduced debt by more than $1 billion. The company said second quarter revenue declined Continue Reading
Chevron to Sell Assets in Asia Worth Up to $5 Billion
Chevron Corp. is paring its Asia operations, selling assets worth up to $5 billion in an effort to raise cash, according to people familiar with the situation. The California-based energy Continue Reading
$40 Billion In Spending Planned For Canada’s Oil Sands
The oil sands of Alberta have attracted a lot of attention recently, not just because of the wildfires that took a lot of production offline in May, but also because Continue Reading
Stripper Well Producers to Face Failure if Methane Rule Allowed
Smaller oil and gas producers could be at risk of failing if stripper wells are not exempted from the U.S. Environmental Protection Agency’s (EPA) new methane rules, according to the Continue Reading
Might the fossil fuel industries implode faster than the clean energy industries can grow to replace them?
In a memorable recent statement, some of Germany’s top scientists argued that “controlled implosion of fossil industries and explosive renewables development” can deliver the targets in the Paris agreement on Continue Reading
Russian economic woes spreading beyond borders
Five straight quarters of economic decline in oil-rich Russia are starting to have a spillover effect on the economies of its neighbors, a data review finds. A review by the Continue Reading
Oil Prices Decline on Crude Stocks Growth
Oil prices slipped on Thursday, after a sharp fall in U.S. gasoline stocks was outweighed by an increase in crude stocks. Brent crude, the global oil benchmark, fell 0.7% to Continue Reading
Oil prices give up early gains as oversupply weighs
Filled oil drums are seen at Royal Dutch Shell Plc’s lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. Oil prices slipped after gains earlier Continue Reading
As U.S. crude wobbles near $40, new oil rally in doubt
U.S. crude’s slide below $40 a barrel this week has hardened the resolve of oil market bears to drive prices lower, with oversupply, refining cutbacks and a breakdown in the Continue Reading