Petroleos Mexicanos and private-equity firm First Reserve Corp. are finalizing terms on a sale and leaseback agreement intended to provide the beleaguered state-owned oil producer with much needed capital, according to two people with knowledge of the discussions.
The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible.
Russia’s Rosneft PJSC could be worth as much as $130 billion, Chief Executive Officer Igor Sechin said as President Vladimir Putin is reported to consider selling a stake in the state oil giant to China and India.
All Exxon Mobil Corp. had to do was run its Los Angeles-area refinery for 15 days before handing the keys to new owner PBF Energy Inc.
Oil halted gains near $49 a barrel as markets awaited the U.K. referendum on staying in the European Union and weekly U.S. stockpile data.
Here comes Canadian oil to douse the hottest rally since 2009.
Oil gained for a second day above $48 a barrel as the dollar retreated, boosting the appeal of commodities priced in the U.S. currency.
Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years.
Oil climbed the most in two months, paring a weekly decline as a weaker dollar bolstered the appeal of commodities to investors.
The biggest U.S. airlines missed their chance to lock in the cheapest energy costs in more than 12 years after jet fuel surged as much as 80 percent since January.
The world’s biggest oil importer. The title nobody wants.
Noble Group Ltd.’s credit rating was cut by S&P Global Ratings for the second time in six months, with the agency citing its weakened liquidity position and higher funding costs despite recent efforts to raise cash.
The watchdog overseeing banks in western Europe’s biggest oil exporter says Norway’s financial industry may still be underestimating the risk of losses, even after a 70 percent recovery in crude prices since January.
Pioneer Natural Resources Co. is purchasing drilling rights from Devon Energy Corp. in a Texas shale field where the buyer has been boring 2-mile-long oil wells expected to yield a million barrels each.
Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. Without an injection of cash and the easing of remaining trade barriers, the recovery may have run its course.
Nigerian militants whose attacks on oil infrastructure have sent output plunging to its lowest level in 27 years said for the first time that they are considering peace talks, even as they threatened to rethink their policy of avoiding bloodshed.
Essar Power Ltd. is seeking liquefied natural gas to supply two power plants in western India after a global glut cut prices for the fuel by two-thirds since September 2014.
All new cars registered in Germany need to be emissions free by 2030 at the latest to help meet pollution reduction goals, a senior government official said.
Blackstone Group LP, the world’s largest private equity manager, expects this month to finish raising the biggest buyout pool yet designed to mimic the long-term, buy-and-hold strategy of Warren Buffett.
China cut crude production by the most in 15 years as producers shut higher cost fields.
Crude fell a third day after the number of rigs drilling for oil in the U.S. rose for a second week.
Iran plans to increase its refining capacity for crude and condensate by more than 70 percent within the next four years as it works to improve the quality of fuel sold on the domestic market and wean itself off imported gasoline.
Iran’s new model oil contracts, designed to lure billions of dollars in foreign investment for its energy industry, still need revisions and the government is confident the first deals will be signed within months, Oil Minister Bijan Namdar Zanganeh said.
For months, banks including Citigroup Inc. have talked about a massive oversupply in the global market for liquefied natural gas. The head of natural gas at Royal Dutch Shell Plc, one of the world’s biggest producers of the fuel, would beg to differ.
Saudi Arabia’s state electricity utility is seeking bids from international developers to build two solar-power plants in the kingdom’s northern region.
