Royal Dutch Shell Plc and Total SA will sign initial agreements on Wednesday to develop oil and gas fields in Iran, in the first European petroleum deals in the Persian Gulf country since sanctions eased earlier this year, an Oil Ministry official said.
Big Oil may have to play a part in cutting supply after the landmark agreement between OPEC and non-OPEC producers last week.
Some of Asia’s marquee airlines that spoil passengers with free alcohol and in-flight entertainment may soon have to kick the habit.
Oil retreated from the highest close in 16 months as OPEC prepares to meet producers from outside of the group on Saturday to widen cooperation with supply curbs.
Mexico’s first competitive deep-water oil auction surpassed expectations as eight of 10 blocks were awarded to some of the world’s top oil companies.
President-elect Donald Trump backs the Dakota Access Pipeline and will review a decision by the Obama administration to deny a permit for the project, a spokesman said.
The U.S. Army Corps of Engineers denied Energy Transfer Partners LP a permit to build a section of the $3.8 billion Dakota Access Pipeline in North Dakota after weeks of opposition from Native Americans, environmentalists and other groups.
For five months the natural gas market has had to live without the U.K.’s biggest storage site off England’s east coast. When it returns from emergency maintenance by Friday, traders are facing a whole new challenge.
More than six weeks before his inauguration, President-elect Donald Trump is already carrying out his promise to make U.S. foreign policy less predictable with a series of moves that are keeping America’s adversaries, as well as its friends, off-balance.
The U.S. Army Corps of Engineers denied Energy Transfer Partners LP a permit to build a section of the $3.8 billion Dakota Access Pipeline in North Dakota after weeks of opposition from Native Americans, environmentalists and other groups.
Norway’s minority government reached a budget deal with its two support parties, bringing an end to a political crisis that risked culminating in a confidence vote at a debate in parliament on Monday.
Brent oil capped its biggest weekly gain since 2009 after OPEC approved its first supply cut in eight years, with attention now shifting to compliance with the deal and how other producers will react to a price rally.
Friday's jobs numbers confirm one thing about this week's OPEC agreement: Shale producers were readying to raise production weeks before officials gathered in Vienna.
The Japanese company poised to become one of the world’s largest LNG buyers says it shouldn’t need to pay producers to lift restrictions on where it can resell cargoes and that the removal would benefit the whole market, including sellers.
Oil is headed for its biggest weekly gain in 15 months after OPEC approved its first supply cut in eight years, with attention now shifting to the deal’s implementation and how producers outside the group will react to any price rally.
No matter where you look in the oil market, key markers watched by traders have been going haywire since Wednesday -- and they show little sign of letting up. Whether it’s a futures curve suddenly suggesting concerns that supply is shrinking or record trading of contracts designed to protect against price fluctuations, OPEC’s first output cut in eight years has sent the market into a spin.
After months of meetings from Doha to Moscow, it was a 2 a.m. phone call between two of the most powerful men in the global oil industry that finally broke the impasse.
German Chancellor Angela Merkel, fresh from taking over the presidency of the Group of 20 nations, plans to use her leverage to challenge Donald Trump’s skepticism about the value of renewable energy by pointing out where it’s a viable business.
Oil extended its biggest gain in nine months and crude producers rallied after OPEC approved the first supply cuts in eight years, with focus now shifting to how strictly it will implement its bid to ease a record glut.
Soren Skou doesn't hang around. Shortly after he became chief executive of AP Moller-Maersk A/S in the summer, the Danish conglomerate said it would separate its transport and energy activities.
Norway expects Royal Dutch Shell Plc to go forward with a shelved project to boost recovery of natural gas at the Ormen Lange field and warned it will start pushing the company for progress from next year.
China’s biggest state-owned companies will see “dramatic changes” in the next few years as they may downsize and become more efficient, according to the former chairman of two of the country’s biggest producers.
Oil surged after OPEC was reported to have agreed the first supply cuts in eight years in an effort to ease a record glut and stabilize global markets.
OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut -- and prove the group’s credibility -- brought about its first cuts in eight years, Bloomberg News reports.
After weeks of often tense negotiations, OPEC ministers gathering in Vienna expressed renewed optimism about salvaging a deal to cut oil production and prop up global prices.
