Oil extends decline as US drilling accelerates amid OPEC cuts
Oil extended its decline below $50 a barrel as U.S. drillers continued to boost activity, countering OPEC’s efforts to drain a global glut.
Race to bottom on costs may cause oil to choke on supplies
Houston hosted two events this week: the nation’s largest energy conference and the town’s famous rodeo. They have more in common than you’d think.
Exxon-BP acquisition talk resurfaces: Is a deal really likely?
BP Plc’s shares surged the most this year after a London newspaper reported on rumors that Exxon Mobil Corp. sounded out major shareholders over a potential takeover.
Race to bottom on costs may cause oil to choke on own supplies
Houston hosted two events this week: the nation’s largest energy conference and the town’s famous rodeo. They have more in common than you’d think.
Canada oil dependence on US loosens in age of Donald Trump
The Canadian oil patch’s half-century bond to the U.S. market is loosening one tanker load at a time in Donald Trump’s “America First” era. Last month, a ship loaded oil off Newfoundland and set sail on a 10,000-plus nautical mile, or 18,500 kilometer, journey to China, following on the heels of an oil-sands cargo shipped from the U.S. Gulf Coast. India-based Reliance Industries Ltd. is set to receive the first shipment of heavy Canadian crude in April, a person familiar with the orders said last month.
Oil trader Vitol expects large growth in US crude exports
Vitol Group BV, the trader that shipped the first cargo of U.S. crude after export restrictions ended in late 2015, predicts the country’s oil exports will grow “a lot more” because of rising production in Texas.
Lukoil outdoes rivals with offer of rising dividends
Investing in Russian oil has become a choice between cash or glory, and Lukoil PSJC looks like the richer side of the bet.
Oil traders smiling again as price bubble pops
Oil’s plunge is bringing some excitement back into the market.
Sale of polluting oil sands heralds cleaner future for Shell
Royal Dutch Shell Plc just took a big step toward remaking itself as a natural gas company.
GE CEO’s pay falls 35% to $21.3million amid weak oil market
General Electric Co. Chief Executive Officer Jeffrey Immelt’s compensation fell 35 percent to $21.3 million last year, as an oil and gas slump suppressed demand for industrial equipment and the company’s shares underperformed the market.
Shale billionaire Hamm says industry binge can `kill’ oil market
Harold Hamm, the billionaire shale oilman, said the U.S. industry could "kill" the oil market if it embarks into another spending binge, a rare warning in a business focused on fast growth to compete with OPEC.
Oil inches back from $50 ledge as US supply stymies OPEC cuts
Oil halted losses after the biggest drop in more than a year as record U.S. crude stockpiles began to raise doubts about the effectiveness of OPEC-led efforts to ease a global glut.
Norway buries oil-tax incentives as crude crisis fades
Norway’s government won’t propose any tax incentives for oil companies to boost recovery at aging fields and marginal offshore discoveries before parliamentary elections later this year.
Cure for Centrica’s Rough malady starts with $122million pill
The prognosis for Centrica Plc’s business of storing natural gas is getting worse.
Oil to hit $40 if OPEC fails to expand cuts, Pioneer says
Oil prices will tumble to $40 a barrel if OPEC doesn’t extend its pact later this year to cut output, according to one of the most prominent producers in the shale patch.
IEA sees oil investment revival as OPEC bails out producers
Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International Energy Agency said.
Exxon pleases Trump with $20billion shale building spree
Exxon Mobil Corp. announced a $20 billion building spree in the heart of the U.S. chemical and refining industry, a program it said would create 45,000 jobs. President Donald Trump quickly tweeted his support, calling the oil producer a "special company."
Surprise oil price cut shows Saudis foiling sweet US flood
The oil is light, sweet and tempting, with a lot of it made in the U.S. Saudi Arabia’s trying to keep it away from the biggest crude buyers.
Oranto to invest $500m in vast Sudanese oil field
South Sudan’s government said it granted Oranto Petroleum International Ltd. a license to explore for oil in a block covering three states in the East African nation that may contain “vast” deposits of oil.
Investors start doubting oil rally after failure to top $55
The oil market’s failure to break out of the tightest range in more than a decade is sapping investor interest.
Jobs take center stage of climate-change debate in Trump era
As the Trump administration sets to work gutting environmental regulations, the best weapon for battling climate change in the U.S. may be jobs.
Gazprom’s Medvedev channels Mao in mission to sell China gas
Gazprom PJSC deputy head Alexander Medvedev is taking solace in old sayings by the founding father of the People’s Republic of China as the natural gas giant pushes ahead with a plan to become its biggest supplier.
Europe’s thirst for gas is growing, Gazprom says
Europe’s appetite for natural gas is leading to a growth “renaissance” as its stores of the fuel languish at the lowest levels since 2013, according to Gazprom PJSC.
BP targets $40 break-even oil price to reassure investors
BP Plc said it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as Chief Executive Officer Bob Dudley seeks to reassure investors on the oil major’s growth outlook and finances.
Putin’s Russia seen dominating European energy for two decades
Europe has wanted to wean itself from Russian natural gas ever since supplies from its eastern neighbor dropped during freezing weather in 2009. Almost a decade later, the region has never been more dependent.