The Canadian government says it won’t grant extensions to exploration licenses for Exxon Mobil Corp., BP Plc and other oil firms as it prepares for consultations over the impact of an Arctic drilling moratorium.
The promise of production cuts from OPEC and its partners sent oil rallying in 2016. Now traders want proof they’re delivering on those vows. It won’t come easy.
Lebanon will auction energy-development rights to five offshore areas and adopt production-sharing contracts to attract international investors as the tiny country seeks to join a regional race to tap oil and gas wealth in the eastern Mediterranean.
OPEC’s crude production fell by 310,000 barrels a day in December, as unplanned disruptions in Nigeria reduced the group’s supply before deliberate cuts take effect this month.
Rex Tillerson’s personal investment portfolio includes stakes in some of the toughest competitors he battled for market share as chairman and chief executive officer of Exxon Mobil Corp.
Rex Tillerson, former Exxon Mobil Corp. chief executive and President-elect Donald Trump’s pick for U.S. secretary of state, will relinquish control of about $240 million in company shares if confirmed as he severs ties to comply with conflict-of-interest requirements.
Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy.
Oil advanced after the biggest annual gain since 2009 as output cuts by Kuwait signaled OPEC and other producing nations started trimming production to stabilize the market.
Oil made the biggest annual gain since 2009 as OPEC and other producing nations plan to start supply cuts next month to reduce swelling global inventories.
Even billionaires make mistakes.
Investors are showing no sign of turning their backs on oil heading into 2017.
With Donald Trump set to enter the White House in January and populists on the march across Europe, political risk will loom large in 2017. Cautious investors may find stability in an unfamiliar place: the oil market.
As oil prices stabilize and confidence returns to the patch, there’s been an uptick in oil and gas companies filing to go public. With prized assets in the industry’s promised lands, not all of them make it that far.
Oil headed for its first annual advance in three years before supply cuts from OPEC and other producing nations next month intended to stabilize the market and reduce swelling global inventories.
Lawyers for teenagers claiming the U.S. government failed to protect the environment from global warming plan to question under oath President-elect Donald Trump’s pick for secretary of state on his knowledge of climate change.
Even billionaires make mistakes.
Shale oil companies are ready to play chicken with supply and demand again.
The world’s most popular oil-tracking exchange traded fund missed out on 2016’s big crude rally.
Billionaire Carl Icahn, a special adviser to Donald Trump and a skeptic of the U.S. ethanol mandate, said there are others on the president-elect’s team who have even deeper criticisms of the program.
BP Plc will pay A$1.785 billion ($1.3 billion) for Woolworths Ltd.’s network of Australian gas stations in a deal that will cement the London-based oil company as one of the nation’s biggest fuel providers.
Talks between Brazil, Iran and India could result in the construction of an oil refinery and petrochemical plant in one of the South American nation’s poorest states, according to politicians, a diplomat and other people close to the talks.
Last year, the biggest winners in the high-yield bond market were investors who eked out any positive gains. This year, even returns of 15 percent aren’t enough to make the top rank.
Oil extended the longest winning streak in more than four months before OPEC and other producing nations start reducing output to stabilize the market.
Billionaire Kjell Inge Rokke’s Aker BP Plc and two private equity-backed companies are in talks to buy stakes in oil fields off Norway from Exxon Mobil Corp. that are valued at about $1 billion, according to people with knowledge of the matter.
After pulling off the biggest oil-market deal in a decade, OPEC faces a new balancing act in 2017: boosting prices without igniting shale.
