Eni’s troubles off Norway risk fueling fight against Arctic oil
A series of mishaps at the world’s northernmost producing oil field shows Norway’s plan to boost its flagging production by tapping the Arctic Ocean may not be so easy.
Norway’s wealth fund dumps Duke Energy on environmental risk
Norway’s $900 billion sovereign wealth fund, the world’s biggest, excluded Duke Energy Corp. and some units from its investments because of a risk of “severe environmental damage.”
Iran oil output near target means freeze is ‘political decision’
Iran hinted that it may soon drop its opposition to an oil-production freeze, with a senior official saying the OPEC member’s crude output is closing in on its pre-sanctions level and that limiting supply is “a political decision.”
Traders Delight as UK gas goes wild on Centrica’s rough halt
This summer’s halt of the UK’s largest natural gas storage facility is roiling Europe’s natural gas markets -- and traders couldn’t be happier.
OPEC risks ‘crying wolf’ as oil trader gunvor says deal unlikely
One of the world’s biggest commodities traders doubts oil producers will be able to agree on curbing output to pull up prices.
Enbridge to buy Spectra Energy in $28bn all-stock deal
Enbridge Inc. will buy Spectra Energy Corp. in a $28 billion stock-for-stock transaction that will create the largest energy pipeline and storage company in North America, the companies said in a statement Tuesday.
Brent oil holds gains as Saudi-Russia deal falls short of freeze
Brent oil held its gains as investors weighed the pledge by Russia and Saudi Arabia to cooperate to stabilize global crude markets that fell short of specific measures to bolster prices.
Woodside eyes LNG boost after $400m gas deal with BHP
Woodside Petroleum Ltd. may look to funnel gas from the Scarborough field off Western Australia to one of its existing liquefied natural gas plants after agreeing to a $400 million deal to buy half of BHP Billiton Ltd.’s stake in the remote offshore resource.
World’s hottest oil market gets a jolt from China’s taxman
Everyone wants a share of the world’s hottest oil market, including China’s taxman.
Norway house price rally accelerates amid record low rates
The surge in Norwegian house prices accelerated in August, adding pressure on the central bank to hold off on a plan to cut interest rates.
Saudi, Russia pledge oil cooperation without agreeing freeze
The world’s top two crude-oil producers pledged to cooperate to stabilize global markets, while failing to announce any specific measures to bolster prices.
Saudi, Russia discuss actions to bolster oil, including freeze
Saudi Arabia and Russia discussed actions to stabilize the global oil market -- including an output freeze -- at a meeting in China.
Oil slips as Saudi-Russia agreement stops short of output plan
Oil fell as two of the world’s biggest producers stopped short of making concrete proposals to coordinate output, pledging instead to cooperate to ensure market stability.
Stable oil requires Saudi, Russian cooperation, Prince says
Global oil-market stability is impossible without the cooperation of Russia and Saudi Arabia, the world’s biggest crude producers, the kingdom’s influential deputy crown prince said, speaking with Vladimir Putin ahead of an OPEC meeting later this month.
Q&A: Saudi stock market steps up bid for foreign cash
For the second time in 15 months, Saudi Arabia is loosening rules on foreigners investing in its almost $400 billion Tadawul Stock Exchange. The goal is to lure funds from overseas as the kingdom overhauls its economy to cut its dependence on oil revenue. Greater access for international investors may boost the chances of Saudi stocks being included in major emerging-markets equity indexes, potentially luring billions of dollars more.
Shell becomes first non-bank to join Mexico oil hedge, sources say
Shell participated in protecting Mexico against low crude prices in 2017, according to four people with knowledge of the matter, the first time an oil company has taken part in the world’s largest commodities hedging program.
France concerned China talks could scupper Hinkley Point nuclear project
French President Francois Hollande’s government is concerned that discussions on the sidelines of the Group of 20 talks in China will sound the death knell for the Hinkley Point nuclear power project in the U.K., according to people involved in the talks.
OPEC output rises to record before talks with Russia on freeze
OPEC’s crude production climbed to a record last month as increased output from Gulf members made up for persisting losses in Nigeria and Libya, according to a Bloomberg survey.
Petrobras sheds 11,704 employees in $1.2bn dismissal plan
Brazil’s state-controlled oil company Petrobras plans to save billions of dollars after completing a voluntary dismissal program to help reduce debt and adjust to lower oil prices.
Putin pushes for oil freeze deal with OPEC, exemption for Iran
Vladimir Putin said he’d like OPEC and Russia, producers of half of the world’s oil, to reach a deal to freeze supply and expects the dispute over Iran’s participation can be resolved.
Exxon ignores near-term glut to play liquefied gas long game
When it comes to natural gas, Exxon Mobil Corp. believes in playing the long game.
Brexit brings back old dilemmas for Scots seeking Independence
The U.K. may have entered a new political era with its unexpected decision to leave the European Union, but in Scotland some old dilemmas are resurfacing.
Putin sees Rosneft sale as soon as this year to ease budget pain
Vladimir Putin said Russia is pushing ahead with plans to sell a fifth of Rosneft PJSC, the country’s largest listed oil producer, as the government seeks to cut its budget deficit.
GIP said to be in talks to buy $4.5bn stake in Gas Natural
Global Infrastructure Partners is in preliminary discussions to acquire a stake in Spain’s Gas Natural SDG SA, according to people familiar with the matter.
Silicor sees cost advantage in $1bn Icelandic solar plant
Silicor Materials Inc. expects to complete financing in the next two months for a $1 billion plant it says will produce solar-grade silicon for at least 40 percent less than existing facilities.