Cheap money gives BP CEO Dudley scope to pile on a bit more debt
Interest rates are so low that BP Plc has the scope to boost net debt, which is already the highest in four years as the company borrows to pay dividends.
Emerging-market energy stocks under pressure with oil below $45
Emerging-market energy shares fell the most in three weeks as oil slid below $45 a barrel, damping appetite for assets of commodity exporters such as Russia and South Africa before central bank meetings in the US and Japan this week.
LNG’s surge from decade-low seen fizzling as supply ramps up
LNG’s surge is running out of gas.
China’s biggest oil field posts first-half profit on cost cuts
China National Petroleum Corp. said its Changqing oil field, the country’s biggest crude and gas producer, rebounded from losses earlier this year to post a first-half profit amid reduced spending.
Keystone’s death means record oil revival for Canadian railways
Keystone was the great hope for opening U.S. markets further to Canadian crude. Now that it’s dead, the railways are going to make not just a comeback, but transport more oil than ever before.
India’s top gas utility seeks to defer Gazprom LNG contract
GAIL India Ltd. is seeking to defer a 20-year contract to buy liquefied natural gas from Gazprom PJSC until the Russian company’s Shtokman project begins production, officials at the South Asian country’s biggest gas transporter said.
Oil bulls headed over demand cliff as refinery shutdowns loom
Beware, oil bulls: Just as U.S. oil production sinks low enough to drain supplies, demand is about to fall off a cliff.
Suncor’s emissions goal seen challenging even without total cuts
Suncor Energy Inc. plans to hold total greenhouse gas emissions at current levels through 2030 even as it boosts crude production by targeting a reduction in carbon output per barrel.
Gloss comes off Dubai as oil woes spill into expat promised land
Kier Riemersma and his wife sat down a few months ago to make a difficult decision. The American couple, who lived in Dubai for over a decade, would wind down his real estate business and move back home to Denver, Colorado.
Oil near a two-month low as US drillers ramp up operations
Oil traded near the lowest close in two months as U.S. oil producers continued to revive drilling in the shale patch, adding rigs for the fourth consecutive week in the longest streak of increases since August.
India seeks bids for 300 megawatt of solar projects with storage
India has invited its first-ever bids for solar energy projects that include storage as a requirement as part of a trial program aimed at making the renewable resource a more reliable source of power.
For big oil next week is as good as it gets
For oil companies, the second quarter might be as good as it gets.
Pemex said to boost fuel imports for August on refinery shutdown
Petroleos Mexicanos is ramping up fuel imports for next month to make up for the shutdown of its fourth-largest refinery this week, according to a person familiar with the matter.
GE tops profit estimates as power gains counter sluggish economy
General Electric Co. reported second-quarter profit that beat analysts’ estimates as surging sales in energy units helped the industrial giant counter the impact of a sluggish economy.
Oil heads for weekly loss as ample US stockpiles sustain glut
Oil is set for a weekly decline as the U.S. heads toward the end of its summer-driving season with ample crude and motor fuel stockpiles.
Exxon secures a foothold in the ‘big kahuna’ of the LNG world
Exxon Mobil Corp.’s takeover of South Pacific natural gas driller InterOil Corp. expands the company’s presence in a market where demand for the fuel is set to grow for at least another quarter century.
Exxon to buy gas explorer InterOil for up to $3.6billion
Exxon Mobil Corp. agreed to acquire natural gas explorer InterOil Corp. for as much as $3.6 billion to add discoveries in Papua New Guinea that will feed the buyer’s existing export plant.
Keppel sees prolonged dearth of oil-rig orders amid glut
Keppel Corp., the world’s largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that’s caused quarterly profit to fall to the lowest in almost a decade.
Schlumberger joins Halliburton in calling bottom of oil downturn
The world’s two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.
Avengers cripple Africa’s largest economy with pipeline sabotage
They sound like superheroes from a Marvel movie, but the Niger Delta Avengers are real and they’re crippling Africa’s largest economy.
Woodside second-quarter sales decline 8% as energy prices slide
Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, posted an 8.1 percent drop in second-quarter revenue after a decline in energy prices.
Exxon in catbird’s seat for InterOil as Oil Search drops out
Exxon Mobil Corp. is the leader in the clubhouse to buy Papua New Guinea-focused gas explorer InterOil Corp. after Oil Search Ltd. declined to submit a counteroffer.
Enbridge Agrees to Spend $172 Million for 2010 Oil Spill
Enbridge Inc. will spend $172 million paying fines and boosting safety across its pipeline operations in a deal with the Justice Department resolving Clean Water Act violations connected to its 2010 oil spill near Marshall, Michigan.
Chesapeake, Ward sued by shale owners for alleged scheme
Chesapeake Energy Corp., the company Aubrey McClendon built into a natural-gas giant, was sued along with his former partner by lease holders who say the pair conspired to rig bids for drilling rights during the shale boom.
Iran exploring return to global bond markets after 14 year break
Iran is exploring a return to international debt markets for the first time since 2002, a senior government official said, as the Islamic Republic seeks to finance an economic recovery a year after a historic nuclear deal that offered it a route out of isolation.