Algeria’s state energy producer Sonatrach Group plans to increase output of natural gas and crude oil by 20 percent in the next four years as new projects start up, Salah Mekmouche, the company’s vice president of exploration and production, said.
Crude closed at a 17-month high in New York as investors weighed OPEC production cuts against signs of greater exports from Libya and a U.S. stockpile glut.
India’s biggest oil and gas producer will pay as much as $1.2 billion to buy a majority stake in a gas field off the country’s east coast, aiming to boost production as the country seeks to cut energy imports.
Saudi Arabia expects oil revenue to jump by 46 percent next year after a deal between the kingdom and other producers to curb output drove up global prices.
Energy firms including Imperial Oil Ltd. and BP Plc will get a year of consultations to hash out the fate of their rights in Canada’s Arctic after Prime Minister Justin Trudeau’s drilling freeze set the stage for a dispute over license extensions.
Oil prices are set to recover next year as OPEC fulfills its agreement to cut output, halting the slump that battered the global oil industry, Saudi Arabia’s energy minister said.
When business is bad for the coal industry, it’s good for Mark Loizeaux.
Exxon Mobil Corp.’s offer to raise its bid for InterOil Corp. to as high as $3.9 billion isn’t enough to pacify the deal’s most prominent opponent.
Call it a pre-Christmas lottery ticket, but someone in the oil market has been busy making a bold bet, buying contracts that will be profitable if oil surges again to $100 a barrel.
When Barack Obama and Vladimir Putin met at the Group of 20 summit in Mexico in 2012, Europe was reeling from the Greek debt crisis and the Arab world was aflame from Libya to Syria.
Odebrecht SA, Latin America’s biggest construction company, and an affiliate agreed to pay more than $3.5 billion to resolve bribery allegations involving Brazil’s state-run oil company, the largest corruption penalty ever levied by global authorities.
Oil extended its advance as industry data showed U.S. crude stockpiles declined last week, trimming an inventory overhang.
Libya reopened two of its biggest oil fields and is set to load its first crude cargo in two years from its largest export terminal as the war-torn country pursues plans to almost double output in 2017. Benchmark Brent crude erased some of its rally on the news.
Exxon Mobil Corp. plans to formally approve investing in the 1.4-billion barrel Liza oil discovery off the coast of Guyana by the end of 2017.
Cleaning up the Fukushima nuclear plant -- a task predicted to cost 86 times the amount earmarked for decommissioning Japan’s first commercial reactor -- is the mother of all salvage jobs. Still, foreign firms with decades of experience are seeing little of the spoils.
The oil industry must brace for five energy “tsunamis” that threaten to drag prices as low as $10 a barrel in less than a decade, according to Engie SA’s innovation chief.
BP Plc is piling up assets with more than $3 billion of deals in three days as Chief Executive Officer Bob Dudley sees the company emerging from the doldrums after a two-year price slump.
Scotland is putting forward plans to remain in Europe’s single market after vowing to seek independence from the U.K. should its voice be ignored in Brexit talks.
President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision.
Oil extended its gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the OPEC member exempt from agreed output cuts.
OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and slumping profits to start investing again -- if they still have the risk appetite.
OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.
OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and slumping profits to start investing again -- if they still have the risk appetite.
Even before Donald Trump tapped him to be the top U.S. diplomat, Rex Tillerson already had his own State Department.
Royal Dutch Shell Plc’s appointment of Jessica Uhl as finance chief on Thursday posed one simple question for many of the analysts who follow Europe’s largest oil company: “Who?”
