Toshiba Corp. projected its annual loss could more than double to a record 1.01 trillion yen ($9.1 billion) as its U.S. nuclear unit Westinghouse Electric filed for Chapter 11 bankruptcy in New York court.
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 of its northerly fields.
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 at Sanford C. Bernstein & Co. and Rystad Energy AS said.
In the end, the pipeline won.
Crude rose as Libya halted the pipeline from its biggest field, tempering concerns about the global supply glut as U.S. stockpiles expand.
An historic agreement between OPEC countries and other oil producers to reduce their output won’t be enough to nudge crude prices above $60 a barrel this year, according to energy lender Arab Petroleum Investment Corp.
Billionaire John Fredriksen, already involved in tough talks to restructure the debt of Seadrill Ltd., is planning to register a new offshore rig company next week as he seeks to take advantage of depressed prices for the giant machines.
The real world of oil trading -- where actual cargoes are bought and sold -- is doing little to help the hedge funds and other speculators who placed record bets that OPEC and its allies would drive up prices.
Saudi Arabia has set a near-impossible target to end the current round of OPEC oil-production cuts, indicating that a policy rollover into the second half of the year is a near certainty.
EON SE, Germany’s biggest renewable energy producer, raised about 1.35 billion euros ($1.45 billion) through a share offering that’ll help it reduce debt and pay for nuclear waste storage.
BP is in talks with Ineos AG to sell the Forties pipeline, one of the most important pieces of oil infrastructure in the UK North Sea.
After the surprise election of Donald Trump, the head of Norway’s biggest oil company headed to Washington D.C. this month looking for reassurance. He came away as worried as ever.
Rising U.S. oil production isn’t the only thing getting in the way of OPEC’s efforts to drain a global glut. American drivers aren’t helping either.
Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery.
Oil extended gains above $49 a barrel as U.S. government data showed an unexpected fall in crude stockpiles, the first decline this year.
Buy oil now, and count on Saudi Arabia for support, according to Citigroup Inc.
Seventeen conservative Republican members of Congress—10 of them in their first or second terms—are bucking long-time party positions and the new occupant of the White House. They announced on Wednesday that they’re supporting a clear statement about the risks associated with climate change, as well as principles for how best to fight it.
OPEC’s worst enemy isn’t U.S. shale drillers. It’s the hedges propping them up.
EON SE posted a record annual loss after more charges related to the spinoff of its coal and gas-fired power generation business and said it will cut more than a thousand jobs by next year.
Saudi Arabia told OPEC it raised output back above 10 million barrels a day in February, reversing about a third of the cuts it made the previous month.
It’s hard to tell where the world ends here on the Alaska North Slope.
The Trump administration’s plan to slash corporate tax rates could free up more than $10 billion a year for U.S. oil explorers, opening new opportunities to boost drilling at a time of uncertainty in the marketplace.
New York says Secretary of State Rex Tillerson used an email alias to discuss climate change while he was Exxon Mobil Corp.’s chief executive: Wayne Tracker.
Oil held losses below $49 a barrel before U.S. government data forecast to show record crude inventories expanded further.
Oil steadied below $49 a barrel as U.S. drillers continued to boost activity, countering OPEC’s efforts to drain a global glut.
