Exxon Mobil Corp.’s attempt to derail a multistate fraud probe into whether the company fully disclosed to investors the financial risks of climate change was dealt a major blow after Continue Reading
A surge in hedging contracts is helping U.S. shale drillers ride out the turmoil in global oil markets this year. Next year may not be so easy. As of March, Continue Reading
Horizontal drilling in the Permian Basin is creating a new kind of swap meet. Working with fresh technology that lets producers drill longer wells than ever before, companies such as Continue Reading
BP plans to sell more refineries without investing in new plants despite growing oil production and will focus on modernizing existing operations while expanding its network of filling stations to Continue Reading
As they guided Europe’s largest oil companies through the industry’s worst slump in two decades, the bosses of Royal Dutch Shell Plc and BP Plc had a simple message for Continue Reading
Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing. Libya’s output was said to fall to Continue Reading
Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half Continue Reading
Major oil traders gathered in Switzerland this week said they expected OPEC and non-OPEC producers to extend their pact to curb output in the second half of this year, providing Continue Reading
FILE PHOTO: A worker walks past a pump jack on an oil field owned by Bashneft in Bashkortostan, Russia, January 28, 2015. Oil prices rose on Tuesday, supported by a Continue Reading
Aiming to prove their commitment to Israel, senior U.S. lawmakers are backing bipartisan legislation that would slap Iran with new sanctions while maintaining rigorous enforcement of the landmark nuclear deal. Continue Reading
Libya’s National Oil Corp, or NOC, has become embroiled in a new political battle as it seeks to defend its role as both policy setter and regulator in the oil Continue Reading
The OPEC deal is turning out to be a failure, but has it led the Saudi’s to abandon the deal? Have they cheated on their numbers? These were the questions Continue Reading
Saudi Arabian Oil Co. set final pricing for its debut Islamic bond as the company presses ahead with plans to raise $10 billion in debt, according to a person with Continue Reading
Libya’s biggest oil field was said to stop producing, leading to a 20 percent decline in crude output from the country with Africa’s largest reserves. The OPEC nation’s output dropped Continue Reading
Saudi Aramco could have a market value of more than $1 trillion in an initial public offering after the government slashed the oil producer’s tax burden to attract investors, analysts Continue Reading
Russian oil company Gazprom Neft said it passed a milestone with operations in Iraq by passing the 5 million barrel mark for cumulative production in 2017. The company said it Continue Reading
A general view of the El Sharara oilfield, Libya December 3, 2014. Oil production from the western Libyan fields of Sharara and Wafa has been blocked by armed protesters, reducing Continue Reading
Nigeria’s Oranto Petroleum International Ltd. plans to bet half a billion dollars that Africa’s newest nation can end a three-year civil war and create the conditions to revive its oil Continue Reading
One of Kurdistan’s iconic oil sector partners, Genel Energy, has once again steeply reduced its estimate of the amount of producible oil at its flagship field.The precipitous decline of the Continue Reading
When crude oil prices crashed into the $20 range early last year, it had most oil-producing nations quaking in their boots. That’s because few countries can make much — if Continue Reading
Petroleos de Venezuela SA is preparing for the departure of its president Eulogio Del Pino in what would be the biggest management shift in years for the state-owned oil producer, Continue Reading
OPEC production cuts and economic woes are complicating Schlumberger NV’s (SLB.N) efforts to collect $1.1 billion from Ecuador’s state-owned Petroamazonas, casting a cloud over the oil services company’s first-quarter results. Continue Reading
The board of Japan’s Toshiba Corp has approved a Chapter 11 filing for its U.S. nuclear unit Westinghouse, the Nikkei business daily reported on Wednesday. A Toshiba spokeswoman said the Continue Reading
Many fossil fuel executives are celebrating President Trump’s move to dismantle the Obama administration’s Clean Power Plan. But their cheers are muted, because market forces and state initiatives continue to Continue Reading
For the past 35 years, I’ve worked as an ecologist in the Amazon, Africa, and the Asia-Pacific region on an array of environmental issues, mostly revolving around tropical forests, biodiversity, Continue Reading
The last time the United States was a net exporter of natural gas was in 1957, when Dwight Eisenhower was president. That should change in 2018 when the country is Continue Reading
The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry. Raven Petroleum LLC and MMEX Resources Inc. are building refineries Continue Reading
ExxonMobil, the largest American oil group, has written to the Trump administration urging it to keep the US in the Paris climate accord agreed at the end of 2015. In Continue Reading
U.S. crude oil exports averaged 520,000 barrels per day (b/d), 55,000 b/d (12%) above the 2015 level, despite a year-over-year decline in domestic crude oil production. Even though oil exports Continue Reading
U.S. President Donald Trump’s administration has billed his move to re-open federal lands to new coal leases as a win for miners seeking to expand production. But a review of Continue Reading
The Trump administration’s expected move to roll back President Obama’s signature climate-change policy may extend the life of some aging coal-fired power plants, but companies and energy experts say it Continue Reading
Offshore drilling contractor Ocean Rig UDW Inc. filed for bankruptcy protection in the U.S. to block distressed debt investors from interfering with a debt restructuring that will slash $3.7 billion Continue Reading
President Trump, flanked by company executives and miners, signed a long-promised executive order on Tuesday to nullify President Barack Obama’s climate change efforts and revive the coal industry, effectively ceding Continue Reading
During his first two months in office, President Donald J. Trump has rolled back key Obama-era greenhouse gas regulations. Without these rules in place, the United States is set to Continue Reading
Danish plans to build one of the larger wind farms in European territorial waters are in line with competition and environmental goals there, a governing body said. Denmark in February Continue Reading
Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development Continue Reading
Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier Continue Reading
The prospect of a further increase in record U.S. crude stockpiles that have undercut OPEC’s output curbs kept oil investors anxious, with prices stuck near $48 a barrel. Futures in Continue Reading
Oil prices rose on Tuesday, supported by a weaker dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC-led supply cut is Continue Reading
Crude oil prices lost traction early Monday after parties to an OPEC-led production deal delayed action on a possible extension until next month. Crude oil prices got support Friday as Continue Reading
The bullish sentiment following OPEC’s deal is almost all gone. Hedge funds haven’t been so skeptical on rising West Texas Intermediate crude prices since Nov. 29, the day before the Continue Reading
Oil prices dipped on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended. Prices for front-month Brent Continue Reading
Oil prices are subdued to start the week, as the weekend’s compliance meeting has done little to allay oversupply fears. As WTI continues to trek on in forty-dollardom, hark, here Continue Reading
In a statement , the joint committee of seven oil ministers from the parties to the cut said that the deal could be extended for another six months, depending on Continue Reading
To extend or not extend? Officials from OPEC and a select few non-OPEC countries met over the weekend to review the state of the oil market, monitor their progress and Continue Reading
Saudi Arabia slashed the tax rate paid by state oil producer Saudi Aramco, a key milestone in preparing the company for what may be the world’s biggest initial public offering. “The Continue Reading
Libya’s biggest oil terminal loads its first tanker since fighting between armed groups earlier this month halted shipments from two ports in the country with Africa’s largest crude reserves. The Continue Reading
Saudi Arabia’s government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company’s initial public offer of shares next year, which is expected to Continue Reading
Iranian Oil Minister Bijan Zanganeh told reporters on Tuesday that a global oil cuts deal is likely to be extended, but that time is needed to discuss the subject thoroughly Continue Reading
After years shunning Iran, Western businesses are bursting through the country’s doors—but U.S. companies are noticeably absent. Dozens of development projects and deals have been hammered out since Iran’s nuclear Continue Reading
