Unwanted: The $10bn gas deal with Israel that Jordan needs
For one hour every Sunday, Alaa Wishah and his family sit at home in the dark.
OPEC can’t succeed alone as cuts would barely drain surplus
Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground.
Saudi Arabia faces deeper OPEC cuts as Iraq opts out of deal
Saudi Arabia faces the prospect of much deeper -- and financially painful -- oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers.
Saudi Arabia faces deeper OPEC cuts after Iraq opts out of deal
Saudi Arabia faces the prospect of much deeper -- and financially painful -- oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers.
BP, Shell help lift profitability of oil trading to six-year high
The trading arms of Royal Dutch Shell Plc and BP Plc enjoyed their best year ever in 2015, helping push the combined gross margins of oil merchants to a six-year high, according to a closely watched report.
Norway PM Solberg warns record stimulus drive can’t last forever
Norway’s stimulus overdrive can’t last much longer now as the economy of western Europe’s biggest crude producer emerges from the oil crash, its prime minister said.
Oil rises as OPEC chief Barkindo seeks to resolve output plan
Oil climbed with OPEC’s secretary-general set to visit Baghdad on Tuesday for talks aimed at resolving a deal on output after Iraq said it should be exempt from planned cuts.
Kenya loses regional fuel traffic to Tanzania over contamination
Rwanda and Burundi stopped importing their fuel needs through the Kenyan port of Mombasa because of the contamination of some cargoes and have opted to route shipments through Tanzania instead, according to the Kenya Transporters Association.
Gulf Banks feel the pain as investors wonder what will come next
Banks from Saudi Arabia to Dubai are feeling the pain of the Middle East’s slowdown.
Africa needs to face reality of low commodity prices, IMF warns
African commodity exporters risk a “disorderly” hit to their economies if they don’t adapt to the reality of low prices, said a senior official at the International Monetary Fund.
Oil trades near $50 as OPEC chief seeks to resolve output plan
Oil traded near $50 a barrel with OPEC’s Secretary-General set to visit Baghdad on Tuesday for talks aimed at resolving a deal on output after Iraq said it should be exempt from planned cuts.
American Midstream Partners to snap up rival in $2bn deal
American Midstream Partners LP will acquire JP Energy Partners LP to expand operations in North American basins including the Permian, Gulf of Mexico and Eagle Ford.
Idle workers, inevitable cuts: Ministers grade the Saudi economy
Saudis who switched on a popular talk show last week to listen to officials explain why state employees had their take-home pay cut were in for a shock.
Shell among new LNG sellers for Asia gas hub contender Singapore
Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel.
Oil halts rally above $50 as Iraq signals break from OPEC cuts
Oil halted its advance near $50 a barrel as Iraq threatened to derail OPEC’s plan to stabilize crude markets by saying it should be exempt from planned output cuts.
Iraq balks at joining OPEC cuts, making oil output deal harder
OPEC’s second-largest producer threw an obstacle in the group’s path toward a final deal to stabilize oil markets when Iraq balked at joining efforts to trim output to prop up crude prices.
Opinion: All hail Saudi Arabia’s victory in war on high-cost oil
We had BP's "Beyond Petroleum," now Saudi oil minister Khalid Al-Falih is setting the scene for "Beyond Market Share."
Russian, Gulf Arab oil ministers meet as OPEC cut looms
Russia’s energy minister met with counterparts from Saudi Arabia and other Arab Gulf oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices.
Give us a seat at OPEC output meeting, Venezuela’s Maduro says
Venezuelan President Nicolas Maduro wants to invite the US to OPEC’s next meeting, saying the world’s biggest crude producer should be in on talks to stabilize global crude prices.
Exxon heads for courtroom faceoff With NY in climate probe
Exxon Mobil Corp. is headed to a courtroom in New York for the first time to try to block the state’s demand for accounting documents about how climate change will affect its finances.
Russia’s rising oil-output forecasts give leverage in OPEC talks
As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using the playbooks of Iran, Iraq and Venezuela to gain leverage.
Ethiopian oil company mulls China Poly equity deal on gas finds
Ethiopian Mineral, Petroleum and Biofuel Corp. is discussing a partnership with a unit of China Poly Group, the first of a series of deals with foreign investors it’s planning to exploit natural-resource deposits in the country.
GE cuts outlook as sluggish economy crimps industrial demand
General Electric Co. cut its 2016 forecast for organic sales growth as the industrial giant grapples with sluggish economic growth that is crimping demand for its products.
Chesapeake declares ‘Propageddon’ with record shale frack
The era of the monster frack has arrived in North America, and Chesapeake Energy Corp. is singing its praises.
Oil holds losses near $50 as investors weigh production cut deal
Crude held losses near $50 a barrel as investors weighed the likelihood of a deal to reduce supply after Russia’s largest oil company said the country was capable of a significant increase to output.