Saudi Arabia gave the strongest indication yet it’s ready to compromise with regional rival Iran, potentially paving the way for the first limit on oil production in two years, although a deal is unlikely until OPEC’s next meeting in November.
Canadian Prime Minister Justin Trudeau’s government has approved Petroliam Nasional Bhd’s C$36 billion ($27 billion) Pacific NorthWest liquefied natural gas project on British Columbia’s Pacific coast.
Nigeria’s possible sale of some of its oil and gas assets to raise money and boost the contracting economy in Africa’s most populous country could reduce the government’s influence over its biggest industry.
Iran is not willing to freeze its oil output at current levels and doesn’t intend to forge an agreement with other major crude producers at talks in Algiers this week, the nation’s oil minister said.
SolarCity Corp., the rooftop solar developer controlled by Elon Musk, was accused of misappropriating trade secrets and other intellectual property in a lawsuit over the development of shingled-cell solar modules.
Suddenly the tables have been turned on Saudi Arabia.
Oil pipelines planned in Kenya and Uganda to ferry crude from fields to port present opportunities for private financiers keen to gain a foothold in East Africa’s energy industry, the African Development Bank says.
Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this week in Algiers.
Oil held near $45 a barrel as Saudi Arabia’s offer to cut output opened the door to a future OPEC deal, even though the kingdom doesn’t expect an agreement this week when members of the group meet.
Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers later this week.
Russia plans to join discussions on limiting oil production only after OPEC members reach an agreement between themselves, meaning talks aimed at stabilizing the market could extend beyond Algiers next week.
Brookfield Asset Management Inc., Canada’s largest alternative asset manager, and its partners agreed to buy a 90 percent stake in a Brazilian natural gas distribution network owned by Petroleo Brasileiro SA for $5.2 billion.
The oil industry may be ready to open its wallet after two years of slashing investments.
Nigeria’s lower house of parliament ordered an investigation into whether $17 billion of fuel exports were stolen.
The oil crash proved no match for Norway’s fiscal and monetary might.
Oil pared gains as rival OPEC members Saudi Arabia and Iran met in Vienna for a second day before the wider group gathers in Algiers to discuss action to stabilize the market.
Plans for the east coast of England to become a hub for the emerging offshore wind industry received a boost Thursday, after Dong Energy A/S said it would invest in a “multi-billion pound” facility at the mouth of the river Humber.
Moeller-Maersk A/S said it will split into separate transport and energy companies as Denmark’s biggest conglomerate concludes a three-month strategic and structural review.
Aliko Dangote, Africa’s richest man, plans to buy London-based Arsenal soccer team within four years.
To get a snapshot of a budget in crisis, visit any of the 10,700 abandoned construction sites that litter Russia, all that’s left after a trickle of state funding ran dry.
Gulf Island Fabrication Inc. has for decades built hulking platforms to extract oil and natural gas from the seabed. With the collapse of offshore drilling, the company has turned to helping harvest another energy resource: wind.
OPEC members Saudi Arabia and Iran, whose rivalry derailed an oil supply accord earlier this year, met in Vienna a week before the organization holds talks in Algeria.
Petroleos de Venezuela SA is getting ready to start what it’s dubbed “one of the world’s largest drilling projects” in the Orinoco heavy crude belt with investment totaling $3.2 billion even as its president, Eulogio Del Pino, says the global oil market is oversupplied.
Russian oil output rose to a record ahead of talks on supply with Saudi Arabia and other members of the Organization of Petroleum Exporting Countries next week.
OPEC probably won’t clinch a deal to limit oil production in Algiers next week as members stay focused on either boosting output or defending their market share, according to a Bloomberg survey.
