Oil advances near $45 as OPEC may hold formal meeting in Algiers
Oil climbed near $45 a barrel after Algeria said OPEC may turn its informal talks next week into a formal session and as weekly industry data showed U.S. crude inventories declined.
Exxon’s accounting said to prompt SEC review after crude slump
Exxon Mobil Corp.’s accounting has prompted a U.S. Securities and Exchange Commission investigation into whether the energy giant should have written down assets as a result of the oil slump, according to a person with knowledge of the matter.
Oil climbs as OPEC may hold formal meeting next week in Algiers
Oil rose after Algeria said OPEC may turn its planned informal meeting in Algiers next week into a formal session.
Petrobras slashes business plan 25% to $74bn
Petroleo Brasileiro SA reduced investments by 25 percent and is accelerating asset disposals in its latest business plan as it downsizes to withstand low international oil prices amid Brazil’s deepest two-year recession on record.
At $500million a pop, it’s an oil gamble that has no precedent
In a far corner of the Caribbean Sea, one of those idyllic spots touched most days by little more than a fisherman chasing blue marlin, billions of dollars worth of the world’s finest oil equipment bobs quietly in the water.
Oil declines amid signs rising global supply to sustain surplus
Oil declined on speculation a global glut will be sustained amid rising supply from Nigeria to the U.S.
Petrobras union says salary freeze unacceptable, mulls strike
Brazil’s main oil workers union is meeting Monday and doesn’t rule out a strike as it battles with state-controlled Petroleo Brasileiro SA for more compensation, union leader Jose Maria Rangel said in an interview.
Encana sells $1billion of shares as it eyes Permian expansion
Encana Corp., the Canadian oil and natural gas producer, is selling about $1 billion of shares to fund drilling in Texas next year and repay debt.
Nigerian police rescue oil workers seized near southern oil hub
Nigerian police rescued 14 oil workers kidnapped near the southern oil hub of Port Harcourt following a gun fight with the abductors, an official said.
Against all odds, North Sea proves resilient to oil-price slump
Oil producers in the North Sea were supposed to be among the first victims of OPEC’s battle for market share. Instead their high-cost, decades-old facilities are proving surprisingly resilient to the price slump.
OPEC ‘very close’ to agreement to stabilize market, Maduro says
OPEC members are close to reaching an agreement on how to stabilize the market, Venezuelan President Nicolas Maduro said after speaking to his counterparts from Iran and Ecuador.
Norway’s Central Bank seen done easing after oil crisis escape
Norway’s central bank is predicted to leave its key policy rate unchanged at a record low as the economy of western Europe’s biggest oil producer fights off the biggest slump in crude prices in a generation.
Oil rebounds as fighting halts Libya’s Ras Lanuf export return
Oil rebounded from the lowest close in more than a month after clashes halted what would be the first crude shipment from Libya’s Ras Lanuf export terminal since 2014.
Dakota access pipeline temporarily halted by US Appeals Court
Work on Energy Transfer Partners LP’s Dakota Access pipeline will be temporarily stopped while an appeals court considers an emergency request by a Native American group claiming the project could destroy or damage sacred land.
Libya clashes halt first oil cargo from Ras Lanuf since 2014
Libya halted loading what would be the first overseas crude shipment from the port of Ras Lanuf since 2014 as rival armed forces began fighting for control of the facility, complicating efforts to end a five-year conflict that has slashed oil exports from the OPEC country.
Netherlands literally running out of gas
The European Union’s biggest natural gas producer is running out of reserves.
S&P downgrades Nigeria further into junk as oil crisis worsens
S&P Global Ratings downgraded Nigeria further into junk territory as Africa’s most populous nation struggles amid low oil prices and severe shortages of foreign-exchange.
Chevron said to narrow bids for $3bn geothermal sale
China General Nuclear Power Corp., the country’s biggest nuclear power operator, has been invited to make a second-round bid for Chevron Corp.’s Asian geothermal energy assets, which could fetch $3 billion, according to people with knowledge of the matter.
Leak from biggest US gasoline pipe sparks supplier ‘red alert’
Gasoline prices are set to jump across the eastern U.S. after a spill from the country’s largest fuel pipeline choked off supplies.
Noble, Marathon said to weigh bids for Permian’s Silver Hill
Noble Energy Inc. and Marathon Oil Corp. are weighing bids for Silver Hill Energy Partners, a Permian Basin explorer that could fetch more than $2 billion in a sale, according to people familiar with the matter.
Trump caught between corn, oil interests on renewable fuels
Donald Trump is trying to walk a fine line between Iowa corn interests and the oil industry.
Noble Midstream jumps in trading debut of year’s first oil IPO
Noble Midstream Partners LP, the pipeline partnership backed by Noble Energy Inc., climbed 18 percent at the open after raising $281 million in its initial public offering.
US oil holds near $44 as Libya, Nigeria seen adding to glut
US crude held near $44 a barrel amid speculation the global supply glut will expand as OPEC members Libya and Nigeria prepare to boost exports within weeks.
Video: ‘Deepwater Horizon’ film retraces stigma of US oil disaster
Just as memories of the 2010 Deepwater Horizon oil rig disaster were starting to fade from public consciousness, an action-heavy movie version is set to bring them back, front and center.
Dong to be investigated on concern company was sold too cheaply
Denmark’s National Audit Office has been asked to investigate Dong Energy A/S after members of the country’s parliament voiced concerns that the utility was sold too cheaply.