New supply from Australia and US to boost LNG market
The market for liquefied natural gas is about to attract more players and more trading as new supply from the US and Australia strengthens buyers’ bargaining power.
Three-day oil price rise grinds to a halt
Oil halted below $46 a barrel after the biggest three-day gain since April.
Iraq oil chief sees end to Kurd dispute as war hurts output
Jabbar al-Luaibi, the former head of Iraq’s biggest crude producer who was appointed oil minister on Monday, said that he sees ways to resolve the energy dispute with the self-governed Kurds in the north of OPEC’s No. 2 producer.
Taqa debt beats Middle East as Abu Dhabi utility mulls bond sale
Abu Dhabi National Energy Co. bonds are outperforming regional debt just as the government-controlled utility known as Taqa considers selling more debt this year to pay off bonds.
Rosneft second-quarter profit falls 34% as oil recovery stalls
Rosneft PJSC’s second-quarter profit decreased about 34 percent, coming in better than analysts estimated, even as a recovery in oil prices sputtered out at below last year’s price levels.
Oil extends gain above $44 after biggest weekly jump since April
Oil extended its advance above $44 a barrel after posting the biggest weekly increase since April amid speculation that producers will revive talks to stabilize prices.
Oil bulls take heart as OPEC rekindles hopes of output freeze
All it took was a few words from OPEC to encourage oil bulls.
Santos flags $billion Gladstone LNG charge on gas supply
Santos Ltd. will take a $1.05 billion writedown on the value of its Gladstone LNG project due to rising prices for third-party natural gas supplies and slower than expected ramp up of its own equity output.
US refiners reap rewards rrom Latin American fuel shortage
The Latin American refinery bust has proved to be a boon for U.S. fuel makers.
Oil drillers bring back rigs in longest streak since 2014
U.S. oil producers added rigs for the seventh week in a row, the longest period of expansion since the final days of the drilling boom in early 2014.
Venezuela raises wages 50% as oil tour seeks to lift prices
President Nicolas Maduro raised Venezuela’s minimum wage 50 percent and announced that his oil and foreign ministers will visit producer countries to lobby for price increases ahead of an informal OPEC meeting next month.
Oil heads for weekly gain as Saudis reiterate wish for stability
Oil is heading for its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market.
Maersk profit plunges as lower oil, shipping prices take toll
A.P. Moeller Maersk A/S, Denmark’s biggest company, reported an 88 percent drop in second-quarter profit as its oil and container divisions both suffered from falling prices.
Who controls the $9.5bn pollution verdict hanging over Chevron?
Ecuadoreans seeking to enforce a $9.5 billion pollution award against Chevron Corp. suffered a big setback on Aug. 8. A federal appeals court ruled that, because of fraud committed by their American lawyer, the victims of this 23-year-old environmental disaster couldn’t collect in the U.S.—or possibly anywhere else.
Blackstone, Apollo size up distressed oil deals that banks shun
The long wait may finally be over.
Petrobras swings to profit on rising crude output, exports
A recovery in oil output and exports helped Petrobras reverse three quarters of straight losses as the Brazilian producer emerges from two years of graft investigations and falling crude prices.
Oil busts, leery bankers and $100bn for distressed deals
The long wait may finally be over.
Noble Group posts loss as debt swells and business shrinks
Noble Group Ltd. lost money in the second quarter and net debt increased as the embattled commodities trader withdraws from some markets in an attempt to conserve cash and reverse a two-year collapse in its shares.
Chesapeake gives Barnett Shale holdings to private-equity backed operator
Chesapeake Energy agreed to give away its Barnett Shale holdings to a private-equity backed operator, exiting the birthplace of the shale revolution to escape almost $2 billion in onerous pipeline contracts.
Saudi, Iran show no sign of scaling back output post-OPEC oil price talks
Saudi Arabia and Iran are giving no ground in their market share war, just days after OPEC announced an informal meeting to discuss ways to stabilize falling prices.
Australia blocks power grid sale to Chinese investors
Australia made a preliminary decision to reject bids for its Ausgrid electricity network from Hong Kong billionaire Li Ka-shing and State Grid Corp. of China amid growing opposition to selling infrastructure assets to overseas investors.
Venezuela’s Maduro says he discussed oil prices with Saudi King
Venezuelan President Nicolas Maduro said he spoke to Saudi Arabia’s king about boosting oil prices and is reaching out to the heads of state of fellow producers Russia, Iran and Qatar as his country reels under the crude crash.
For oil companies $110billion debt wall looms over next 5 years
The worst may be yet to come for some strained oil services companies as $110 billion in debt, most of it junk rated, creeps closer to maturity.
Oil holds decline below $43 as rising US supplies expand glut
Oil held declines below $43 a barrel as weekly U.S. industry data showed crude stockpiles expanded, keeping supplies at the highest seasonal level in at least two decades.
Chevron’s pollution victory opens door for companies to shirk foreign verdicts
Chevron wasn’t the only winner in Monday’s ruling by a federal appeals court over its long-running Ecuadorian pollution litigation. The victory, in which the court affirmed that a lawyer for victims engaged in wrongdoing to secure a $9.5 billion verdict in the South American country, may benefit other corporations seeking to avoid enforcement of foreign judgments they contend are based on corrupt proceedings.