Oil slips as industry crude, gasoline storage numbers disappoint
Oil extended its decline after an industry report was said to show disappointing numbers for crude and gasoline stockpiles.
JPMorgan’s Hernandez says global deals to keep getting bigger
JPMorgan Chase & Co.’s head of global banking, Carlos Hernandez, said companies are only just beginning to “test out the limits of what is possible” for new stock sales and deals, driven by the strength of the world economy.
Saudi Prince’s graft sweep reaches Aramco board, Council
A Saudi Aramco director and a member of the royal council overseeing the world’s biggest oil exporter were arrested along with other top officials as Crown Prince Mohammed bin Salman seeks to strengthen his hand amid a reform push that includes a stake sale in the company next year.
Oil Near $54 amid uncertainty about OPEC-led production accord
Oil traded near $54 a barrel as two of the world’s largest crude producers provided conflicting guidance about the longevity of a historic supply agreement.
BP leads oil-slump survivors back to normality
Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business.
GRAPH: Saudi Arabia leads Gulf nations in cutting break-even oil price
Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget.
Oil extends two-year high as Saudis, Russia back prolonged cuts
Brent crude extended its rally to a two-year high as OPEC and Russia signaled they’ll prolong supply cuts, while instability in Iraq’s Kurdish region persisted.
Republican asks colleagues to keep wind and solar tax credits
A New York Republican emerged from a key tax meeting to say that he had urged his House colleagues not to end tax credits for the wind and solar industry early.
Exxon’s not afraid of Tesla
Exxon Mobil Corp. says the existential threat to oil producers from electric cars is overblown.
Oil investors roll the dice on OPEC as Saudi prince ups the ante
The OPEC trade is back, and Saudi Arabia is in the driver’s seat.
Puerto Rico utility poised to cancel grid-restoring contract amid controversy
Puerto Rico plans to cancel a $300 million contract to rebuild the hurricane-ravaged electrical grid that went to a tiny company based in Interior Secretary Ryan Zinke’s Montana hometown, the head of the island’s power utility said.
Saudi Arabia mulls more fiscal expansion in 2018 to spur economy
Saudi Arabia is considering a more expansionary budget than planned for 2018, Finance Minister Mohammed Al-Jadaan said, as authorities seek to support an economy struggling under the weight of austerity cutbacks.
Why oil-rich Gulf Arab countries are turning to renewables
Solar power is getting so cheap that even Gulf Arab states awash in crude oil are embracing the renewable resource. Their motive is as much to keep selling fossil fuels as it is to rein in their carbon emissions.
Rise in Texas earthquakes near oilfields prompts new monitoring
Texas, home to two of the nation’s busiest oilfields, now has a new way for the public to track in real time how many earthquakes are rattling the Lone Star State since the expanded use of new drilling techniques.
Oil gains as OPEC says all options on the table
Oil extended gains as OPEC and its allies reiterated that all options are open to re-balance the market.
Noble Group warns of loss topping $1billion as Vitol buys unit
Embattled commodity trader Noble Group Ltd. agreed to sell most of its oil-liquids business to Vitol Group to help pare down debt, while warning that it’s set to post a net loss of more than $1 billion for the third quarter as its access to financing remains constrained.
World’s biggest oil traders see wildly diverging crude price
The world’s biggest oil traders say crude could rise above $60 a barrel in a year as demand grows and OPEC keeps cutting. Or it might fall to $45 as another wave of U.S. shale hits the market.
Pressure on Noble Group as Vitol says oil deal `complicated’
Vitol Group’s negotiations to buy Noble Group Ltd.’s oil trading unit are “very complicated” and may not end in a deal, the chief executive officer of Vitol said, adding to pressure on his Hong Kong-based rival.
Iraq turmoil threatens billions in oil trader deals with Kurds
The crisis unfolding around the Iraqi city of Kirkuk has left some of the world’s largest commodity trading houses worried the country’s autonomous Kurdish region will struggle to repay billions of dollars in cash-for-oil loans.
China is about to do for global gas demand what it did for oil
China is in a “golden age” for natural gas that will make it the world’s biggest user of the fuel sometime between 2040 and 2050, according to analysts at Sanford C. Bernstein & Co.
Shell’s UK fuel stations start recharging for electric cars
Royal Dutch Shell Plc opened its first rapid charging point for electric cars at gasoline stations in the U.K., the latest sign that oil majors are waking up to the disruption plug-in vehicles could have on their industry.
UK North Sea oil faces quickening decline if no Brexit deal
The U.K. oil and gas industry faces a faster decline if Prime Minister Theresa May fails to agree to a trade deal with the European Union, as restrictions on the movement of workers and equipment would increase costs.
Ineos appoints new shale boss to build a UK natural gas boom
Ineos AG, Britain’s largest closely held company, has taken another step toward creating a shale boom on its side of the Atlantic.
Brexit takes bureaucracy to the atomic level for UK industry
To understand the implications of Brexit, it helps to go nuclear.
Arctic oil promise keeps Norway’s disappointed wildcatters going
It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical about the industry that made them rich.