Shell Sells $4.7 Billion of Fields as Disposal Push Accelerated
Royal Dutch Shell Plc, looking to pare debt swollen by last year’s acquisition of BG Group Plc, accelerated its drive to shed assets on Tuesday by agreeing to the sale Continue Reading
Oil Trades Near $53 as U.S. Drilling Accelerates Amid OPEC Cuts
Oil traded near $53 a barrel after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. Futures were Continue Reading
Oil extends decline as rising U.S. output weighs
Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that would partly offset production cuts by OPEC and other producers. London Brent Continue Reading
IEA does not foresee oil demand peaking soon, Birol says
The International Energy Agency (IEA) does not expects oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also Continue Reading
OPEC January oil output shows high compliance with supply cut deal: Petro-Logistics
OPEC oil output is set to fall by 900,000 barrels per day (bpd) this month, a company that tracks OPEC supply said on Friday, pointing to a strong start by Continue Reading
Lukoil Seeks Middle East Oil Projects for Growth as Iran Opens
Lukoil PJSC is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. Continue Reading
Saudi Aramco Said to Weigh Up to $5 Billion Renewable Deals
Saudi Aramco , the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, Continue Reading
OPEC May Be Powerless To Stop Lower For Longer
Just a few months after oil prices began to crash from its US$100 level in 2014, BP’s chief executive Bob Dudley warned the industry that it needed “to prepare for Continue Reading
Is The $4 Trillion Saudi Reform Plan Inspired By China?
In an ironic decision, Saudi Arabia’s Muslim rulers, leading anti-Communists of the Cold War, may be adopting the economic management model of the atheist Communist Party of China. But rulers Continue Reading
OPEC Convinces Investors That Its Oil Output Cuts Are Real
OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a Continue Reading