Angola President appoints daughter as head of state oil firm
Angolan President Jose Eduardo dos Santos has appointed his daughter, Isabel, as the chairwoman of the state oil company Sonangol.
Saudi Arabia considers surprise deal to repair OPEC’s divisions
Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead.
Renew news: Chile has so much solar energy it’s giving it away for free
Chile’s solar industry has expanded so quickly that it’s giving electricity away for free.
Oil holds near $49 before OPEC meeting as Saudis consider deal
Oil held near $49 a barrel as OPEC ministers prepare to convene in Vienna amid speculation Saudi Arabia is considering a deal to mend divisions within the group.
Dana Gas CEO expects ‘bumpy road’ for oil as shale sets floor
The oil market is heading for a “bumpy road” with prices close to levels that are profitable for U.S. shale producers, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC, which produces natural gas in Egypt and Iraq.
Hidden oil giant Vitol skirts war, market chaos to make billions
It wasn't a normal business trip, even for Ian Taylor. Over an almost 40-year career in oil, the Oxford-educated Brit had set down in plenty of hot spots, from Tehran to Caracas, Baghdad to Lagos. Yet this journey—destination Benghazi, Libya, in the midst of a civil war—was different.
Iran plans oilfield renders in June for international companies
Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after years of crippling sanctions.
No more oil walks in Vienna: Saudis bring new style to OPEC
For more than two decades, the people of Vienna have witnessed a peculiar ritual that’s been a firm fixture of OPEC’s regular gathering: the Saudi oil minister’s morning stroll.
U.A.E. sees oil market correcting itself ahead of OPEC meeting
The global crude oversupply that has caused prices to slump since 2014 is correcting itself, the oil minister of the United Arab Emirates said Tuesday on arrival in Vienna ahead of an OPEC meeting this week.
Oil set for longest run of gains in five years before OPEC meeting
Oil is set for the longest run of monthly gains in five years as output disruptions from Nigeria to Canada reduce supply before OPEC meets Thursday in Vienna to discuss production policy.
The untold story behind Saudi Arabia’s 41-Year U.S. debt secret
Failure was not an option.
Libyan guards battle Islamic State to retake town near oil ports
Libya’s Petroleum Facilities Guard captured a town near the country’s biggest oil port of Es Sider after clashes with Islamic State militants as the divided country works to reunite factions and revive the economy and oil production.
Noble Group’s new CEO now face challenge of raising $1billion
Yusuf Alireza has gone but Noble Group Ltd.’s challenges remain. The commodity trader that announced Alireza’s resignation as chief executive officer on Monday as yet more assets were put up for sale, still faces the hurdle of raising about $1 billion to shore up its balance sheet.
Battered by crude collapse, Norway now faces risk of oil strikes
Norway’s oil companies and the industry’s biggest union had set off two days to negotiate over wages for offshore workers. Instead, the talks broke down after less than a minute.
Oil at $60 gains more backers on forecast for higher US demand
The United Arab Emirates’s economy minister joined forecasters looking for $60 crude this year with demand and production moving more in line.
Noble group CEO quits as energy solutions business put on sale
Noble Group Ltd. said Yusuf Alireza resigned as chief executive officer and announced a plan to sell part of its gas and power unit less than a month after Alireza himself described Noble Americas Energy Solutions as one of the core assets it wanted to keep.
Oil states expected to stick with Saudis : OPEC reality check
OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy is working. That means the meeting may be less fraught than the previous summit in December, which ended with public criticism of the Saudi position from Venezuela and Iran.
Oil slips third day as Canada output returns before OPEC meeting
Oil slid a third day as Canadian producers moved to resume output after wildfires and as OPEC delegates prepare to meet in Vienna to discuss production policy.
Suncor resumes oil-sands operations after wildfire shutdown
Suncor Energy Inc. restarted oil-sands operations in the Regional Municipality of Wood Buffalo, an area in Canada that includes wildfire-ravaged Fort McMurray. It’s a move that enables thousands to return to work.
Citigroup says Saudi Arabia is best emerging market for deals
Saudi Arabia’s planned privatisations, including a share sale in the world’s biggest oil company, represent the biggest investment banking opportunity in emerging markets, according to Citigroup Inc.
Clean energy to take bigger share of electricity market by 2030
Renewable energy will account for 40 percent of electricity output capacity by 2030, almost double today’s market share, according to the International Renewable Energy Agency.
Venezuela government, opposition exploring talks to end crisis
Venezuela’s warring political factions have restarted efforts to end a bitter political standoff as the country’s economy continues to spiral into deep recession.
Egypt brings in specialized deep search ship for EgyptAir hunt
Egyptian authorities hired a deep ocean survey and recovery company to join the hunt for wreckage of the EgyptAir jet that went down over the eastern Mediterranean last week as new satellite evidence emerged to help narrow down the likely crash site.
Reliance said to revive offshore gas project by end-2017
Reliance Industries Ltd. is preparing to restart work in four offshore oil and gas blocks, including one of India’s biggest natural gas discoveries, as it seeks to revive development activity stalled for seven years by disputes with the government, according to people with knowledge of the plan.
AGL eyes power storage in 1,000 homes to tap solar surge
AGL Energy Ltd. plans to announce a program within a few months to roll out about 1,000 power-storage systems for Australian homes with rooftop solar panels amid forecasts that falling prices will stimulate demand.