Exxon in talks with Chad over $74bn fine
Exxon Mobil Corp. is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties.
Oil extends advance as Opec steps up efforts to secure output deal
Oil extended gains near $46 a barrel after its biggest surge in seven months as OPEC boosted efforts to finalize a deal to cut production agreed at a September meeting in Algiers.
BP boss Dudley says oil market ‘pessimistic’ on Opec deal
The oil market is “pretty pessimistic” about OPEC reaching a deal to cut production, BP chief executive officer Bob Dudley said.
Russia detains minister for bribe over Rosneft-Bashneft deal
Russia opened a criminal case against Economy Minister Alexei Ulyukayev, the highest-profile official to be detained under President Vladimir Putin, for allegedly receiving a $2 million bribe to approve a privatization sale last month.
Dakota pipeline delayed as Trump vows to speed up reviews
The Obama administration has yet again delayed a decision on the controversial Dakota Access crude pipeline, even as President-elect Donald Trump vows to speed up reviews of such projects.
China’s CNPC to spin-off non-energy assets with 140,000 employees
China National Petroleum Corp. plans to spin off most non-energy assets -- a portfolio comprising roughly 10 percent of its workforce -- as low oil prices force the state-run behemoth to streamline, according to people with knowledge of the matter.
Nigerian inflation quickens to 11-year high in October
Nigerian inflation accelerated for the 12th consecutive month in October as exchange-rate pressures persisted on the prices of goods and services, complicating the central bank’s task of supporting an economy forecast to contract this year.
Tullow, Total’s Uganda oil exports face delays on infrastructure
Output from Ugandan crude deposits being developed by companies including Tullow Oil Plc and Total SA is unlikely to be exported as soon as the nation expects because of the scale of the infrastructure projects required to transport the fuel out of the country.
Libya’s largest oil port may be able to ship next week
Libya’s largest oil export terminal may re-open as early as next week in a move that would provide relief for the cash-strapped country holding Africa’s largest crude reserves.
Oil man who foresaw crash sees OPEC uniting in self-interest
OPEC members need to stop bickering over output curbs or risk the group becoming irrelevant to global oil markets, according to an analyst who predicted the biggest price crash in a generation.
Oil tankers used to store millions of barrels as land sites fill
Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. The glut could get bigger still, given the region is scheduled to load the most cargoes in 4 1/2 years next month.
Brazil stocks slump as corruption scandal haunts Petrobras again
The Ibovespa fell the most among major global equity benchmarks after Petroleo Brasileiro SA missed earnings estimates because of a corruption scandal, reminding investors that Brazil’s politics still pose a risk to the country’s recovery from recession.
Energy Transfer preps to finish Dakota line as US reviews
Energy Transfer Equity LP said Friday that it was mobilizing equipment in preparation to drill the final portion of its controversial Dakota Access crude pipeline, even as an Obama administration official said no decision has been made on the project.
Exxon adds New York to suit in bid to stop climate change probe
Exxon Mobil Corp. sued New York Attorney General Eric Schneiderman to stop his investigation into what the company knew about climate change.
Iran tells OPEC it boosted output by most since sanctions ended
Iran, which wants an exemption from OPEC’s accord to cut production, told the group it raised output by the most since international sanctions were lifted, while Iraq -- also insisting it should be spared -- gave no reading at all.
Rosneft third-quarter profit falls even as oil output grows
Rosneft PJSC said third-quarter profit dropped 77 percent as a decline in export duties lagged behind slumping prices.
Oil extends decline as focus shifts to OPEC after US election
Oil extended its decline below $45 a barrel as focus shifted to OPEC’s ability to stabilize prices after markets were roiled this week by Donald Trump’s largely unexpected U.S. presidential election win.
Emerging markets extend post-Trump slump as Bond rout deepens
An emerging-markets selloff deepened amid concern developing economies will face capital outflows and weakening exports once Donald Trump is in The White House. Treasuries capped their worst week since 2009 before a U.S. holiday on Friday.
Energy Transfer on Trump: ‘It’s only going to get better’
Energy Transfer Partners LP said Thursday that its Dakota Access crude pipeline, plagued by protests for months, is still set to be in service by spring. Donald Trump’s election, meanwhile, means business is “only going to get better,” the company’s leader said.
Saudi Aramco said among second-round bidders for OMV Turkey unit
Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter.
Noble Group reports loss as debt pile shrinks $503mn
Noble Group Ltd., the commodity trader backed by China’s sovereign wealth fund, reported another loss in the third quarter as the Hong Kong-based company pressed on with efforts to pay down debt, boost liquidity and focus on its most profitable businesses.
IEA raises forecast for non-OPEC oil output growth next year
The International Energy Agency increased its estimate of oil production from countries outside OPEC next year, citing an improved outlook for Russia.
Coal resurgent, renewables in retreat: Energy with Trump
If you want a snapshot of what the global energy map will look like under President Donald Trump, look no farther than the stock market.
What to watch in oil when Trump moves into the White House
Some U.S. oil policies are likely to shift significantly when Donald Trump assumes the presidency next year. While details remain sketchy, he’s highlighted a number of areas where he differs significantly from current policy.
Trump win revives Keystone hopes, Boosts Dakota access outlook
Donald Trump’s U.S. presidential election victory came as a positive surprise for pipeline proponents.