BP and Shell hit after OPEC output cuts halt oil-trading bonanza
The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over.
Offshore drillers are still seeking recovery enjoyed by shale
While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel.
Oil near $54 as Iran tensions offset US drilling ramp up
Oil traded near $54 a barrel as increased tension between Iran and the U.S. countered expectations of rising American production.
Top trader Vitol sees oil rattled as Trump makes market fret
Donald Trump and global crude producers are set to take prices on a bumpy ride this year, according to the world’s biggest independent oil trader.
Huge gas finds can keep Europe warm if their owners stop arguing
As the helicopter roars its way west from the Tel Aviv coast, two dots emerge from the featureless blue. Closer up, they begin to take shape: Giant platforms for extracting gas from under the Mediterranean Sea.
Investors have never loved OPEC so much as it sticks to cuts
Investors are betting big that OPEC’s cuts are real.
ICE hires consultant to review how North Sea Brent oil is calculated
The exchange that’s home to Brent crude futures hired a consultant to discuss with traders, banks and other market participants measures to revamp how North Sea oil prices are calculated.
Dakota Access Pipeline said to start pumping crude in June
The $3.8 billion Dakota Access crude oil pipeline may start operating June 1, assuming no new obstacles prevent it, according to a person familiar with the matter.
Trump and OPEC leaks scupper march to oil’s promised land
It's just one month into OPEC's deal to cut production, and this could be as good as it gets for the group's attempt to rebalance the market. Rising output from those not included in the accord and from the U.S. is already undermining the effectiveness of the deal. The prospect for this leakage to worsen means we may now be seeing the beginning of the end of the march upward in prices.
Tensions rise as Trump prepares new Iran sanctions
Tensions between the U.S. and Iran escalated as President Donald Trump prepared new sanctions and told Tehran it’s “playing with fire,” prompting Iran to respond that it won’t be bullied.
More work needed to fulfill Opec output deal
OPEC cut output by 840,000 barrels a day last month, but has more work to do to fully comply with last year’s historic production deal.
Saudi oil minister says world to be ‘amazed’ by Aramco IPO data
Saudi Arabian Oil Co., which is planning what could be the world’s biggest share sale, will publish annual financial statements before the offering set for 2018, Energy Minister Khalid Al-Falih said.
Dakota access oil pipeline nears final permit, lawmakers Say
Energy Transfer Partners LP may be close to getting the permit it needs to finish the Dakota Access oil pipeline, a project that became a flash point for environmentalists but a symbol of President Donald Trump’s pledge to jump start energy infrastructure.
Oil investors wary after ‘nasty year’ of profit declines
Crude prices may have stabilized, but it’s still not a great time to be Big Oil.
Shell, Chrysaor show way over decommissioning hurdle
Royal Dutch Shell Plc’s $3.8 billion sale of North Sea oil and gas fields creates a model for further transactions in a region where the question of who pays to remove decades-old offshore platforms has been an obstacle for other deals.
Exxon falls short of estimates as $2bn writedown eats up cash
Exxon Mobil Corp. missed analyst estimates after a $2 billion writedown in the value of U.S. natural gas fields.
Halliburton says stay put as oil braces for Trump ban fallout
Oil-services giant Halliburton Co. told employees to stay put. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected.
Saudi Aramco mulls $5bn green energy investment
Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter.
Timing of Trump travel ban ‘unfortunate’ for Sudan as US lifts sanctions
The U.S. removal of sanctions on Sudan unlocks the potential for the government to tap its rich mineral and agriculture resources. Now the African state needs to carry out the large-scale reforms required to attract investors.
Opec persuades investors output cuts being realised
OPEC appears to have persuaded investors that it’s making good on promised production cuts.
Oil heads for second weekly gain as OPEC continues output cuts
Oil headed for a second weekly increase as OPEC and other producing nations continued with output cuts to reduce bloated global inventories and stabilize the market.
Trump’s 20% import tax may be good for Canadian oil patch
U.S. President Donald Trump’s controversial 20 percent tax on imports from Mexico to pay for a border wall would come as a second gift in less than a week for Canada’s oil patch.
Keystone, Dakota access lines face hurdles despite Trump support
President Donald Trump may have revived prospects for the controversial Keystone XL and Dakota Access oil pipelines, but the path to their completion still contains hurdles.
Former billionaire Batista sought by Brazil police in graft case
Former billionaire Eike Batista became one of the targets of a police investigation into money laundering in the state of Rio de Janeiro, signaling Brazil’s largest corruption probe continues to expand.
Big Oil debt tops out as cost cuts combine with price rally
Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow.