President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity.
It was meant to be a given that a rebound in oil prices would slow the depletion of Saudi Arabia's foreign-currency reserves. That hasn't happened yet, and economists are wondering why.
Royal Dutch Shell (LDN:RDSB) plans to boost its gas marketing business in India and may expand its import capacity for the fuel as it seeks to tap the country’s demand-growth potential.
U.S. crude supplies are again haunting oil prices, chilling optimism over a possible extension of OPEC-led production cuts that helped drive a rally over the past week.
The UK is looking for ways to scrap its 2020 clean energy targets while maintaining everyday trade in Europe’s energy market, an early sign of the kind of cherry-picking that threatens to sour Brexit negotiations.
Seadrill, once the crown jewel of billionaire John Fredriksen’s business empire, is at the mercy of short-term speculators as the biggest funds shun the offshore driller amid a struggle to avoid bankruptcy.
A new quarter raises new questions. At the top of the list, where might placid markets run into a spot of bother?
Oil extended gains to the highest level in almost a month, with investor focus shifting back to U.S. crude inventories after supply disruptions and optimism over OPEC’s output curbs drove a rally over the past week.
The men huddled in the same first-floor conference room as always, only this time they’d decided to make their annual oil bet bigger and bolder than ever before. Fewer than a dozen representatives from three Mexican government ministries and Petróleos Mexicanos, the state energy company, were about to make a wildly contrarian play. If it paid off, the profits would be enormous. And if they were wrong? They would have spent a small fortune in vain.
Qatar Petroleum plans to start a new development in the offshore North Field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran.
Oil is holding near $50 a barrel as optimism spurred by OPEC’s output cuts confronts pessimism over rising U.S. supply.
A territorial dispute in northern Iraq threatens to disrupt oil output at a field containing as much crude as Norway, even as U.S.-backed forces prepare what could be a decisive blow against Islamic State militants in the nearby city of Mosul. Kirkuk, where Iraq first discovered oil in 1927, can produce more than 1 million barrels a day but is pumping at less than half its capacity while competing ethnic and political groups scramble to control its 9 billion barrels of reserves.
OPEC happy about shrinking inventories, Latin American politics go haywire, and an inauspicious first quarter for Chinese bond defaults.
Mexico’s existing oil reserves are dwindling so fast the country could go dry within nine years without new discoveries.
As Southern Co. opens a review of its troubled nuclear reactors following a bankruptcy filing by contractor Westinghouse Electric Co., the Trump administration has 8.3 billion reasons to be worried.
With local restrictions on marijuana easing across the U.S., power suppliers from California to Maine were expecting a little buzz of their own from newly legitimate pot farmers. After all, a 5,000-square-foot warehouse filled with hydroponic growing systems can draw five times the electricity of a typical industrial user.
Norway needs to plot a new course as more economic engines are needed to propel western Europe’s biggest crude and gas producer out of the oil age, Prime Minister Erna Solberg said.
Oil production in West Texas is about to outgrow pipeline capacity, a combination that knocked down crude prices in the region three years ago.
Speculation OPEC will extend its deal to curb output and ease a global glut is sending oil toward its biggest weekly increase this year.
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 investors: we’ll protect the dividend at all costs.
Signs of growing U.S. fuel demand are propping up oil above $49 a barrel, with more refinery purchases seen helping ease a glut in American stockpiles.
Vladimir Putin wanted to remake Josef Stalin’s quest for a greater foothold in the Arctic into a global shipping bonanza that could compete with the Suez.
Cenovus Energy Inc. will double its reserves and production by buying Canadian holdings from ConocoPhillips for C$17.7 billion ($13.3 billion), the latest sale of energy assets in that country by international companies stung by falling oil prices.
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.
Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing.
