Oil major Statoil’s highly anticipated Korpfjell prospect in the Arctic Barents Sea contained only non-commercial quantities of natural gas, and no oil, the company announced on Tuesday. Korpfjell was the Continue Reading
Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down as Hurricane Harvey pounds the region with torrential rain and high winds, virtually assuring gasoline prices Continue Reading
About 25 percent of U.S. Gulf of Mexico oil production is offline due to Tropical Storm Harvey, the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement said Continue Reading
Gasoline prices hit two-year highs on Monday as massive floods caused by Hurricane Harvey forced refineries across the U.S. Gulf Coast to shut down. The storm came shore over the Continue Reading
For oil prices to rise, demand must increase. That’s the gist of a new article from Forbes’ contributor Jude Clemente. Strong demand from East Asia may be weakening, as China Continue Reading
A local Libyan brigade has closed down two valves on a pipeline to Sharara oilfield, the country’s largest, to make demands for more fuel supplies and better economic conditions for Continue Reading
Indigenous leaders in Peru will obstruct the government’s access to one of the country’s largest oilfields if an indigenous rights law does not take effect in the next 20 days, Continue Reading
China Petroleum and Chemical Corp, known as Sinopec, reported its best six-month profit since the second half of 2014 on Sunday, the latest Chinese state oil major to report a Continue Reading
A coal ship pulls up to the piers in Newport News, Va. China’s reemergence as a coal importer has boosted the fortunes of U.S. producers who are now shipping more Continue Reading
Buildings under construction in Beijing. Some economists say recent weakness in China data is temporary, due to an unusually hot summer building season. SHANGHAI—China’s financial markets are sending conflicting signals Continue Reading
