Oil stocks ‘outrun fundamentals’ with 300% gains in three months
As oil flirts with $50 a barrel, investors are trading drilling stocks as if crude were selling for $80, and that’s the kind of optimism that leads to corrections.
Russia learns to live after crash as post-oil path takes shape
Call it a stealth overhaul.
Oil sands restart plans thwarted as Alberta fire threat returns
Plans to bring back more than 1 million barrels a day of lost production in Canada’s oil sands are being delayed as wildfires sweeping across northern Alberta threaten operations again, prompting Suncor Energy Inc. to evacuate three sites it was restarting.
Algeria signs oil, gas deal as OPEC member seeks to boost sales
Algeria will supply oil and other energy products to Jordan for the first time under a memorandum of understanding signed on Monday, as the OPEC member seeks to diversify sales after years of stagnating crude production.
Oil drillers adding hedges as crude makes biggest gains
Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump.
Fire nears Enbridge oil-sands tanks; Workers removed from camps
Wildfires raging across northern Alberta for more than two weeks have come to within a kilometer of an Enbridge Inc. oil-sands transportation terminal as warm weather and wind spread the flames, while workers were evacuated from camps north of Fort McMurray.
Oil advances to six-month high as US stockpiles seen falling
Oil advanced to a six-month high before U.S. government data forecast to show crude stockpiles dropped for a second week, easing a glut.
Saudi stocks defy Moody’s cut as Maaden rallies; Dubai retreats
Saudi Arabian stock investors showed they care more about the price of oil than what New York-based Moody’s Investors Service Inc. thinks about the kingdom’s debt dynamics.
Obama sets stage for huge emissions cuts, unless Trump wins
Oil-and-gas producers have a financial incentive to make sure methane doesn't leak from wells and pipelines. Yet the release of methane has become a well-documented global problem—once it joins the atmosphere, it becomes a potent greenhouse gas that's responsible for a quarter of the Earth's extra heat.
Iran’s speedy oil revival unlikely to mean change in OPEC stance
Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action.
Saudi Aramco IPO could signal concern over oil’s future
Saudi Arabia’s plan to sell part of its stake in state-controlled oil producer Aramco may suggest the kingdom’s leaders are worried about the long-term prospects for crude demand and prices, said short-seller Jim Chanos, founder of Kynikos Associates.
New North Sea beckons oil producers off Canada’s eastern coast
A change to an obscure shipping law is helping draw major oil companies to an area off Canada’s east coast that may rival the North Sea for its production potential.
Oil at $45 a barrel proving no savior as bankruptcies pile up
Three bankruptcies this week shows that $45 a barrel oil isn’t enough to rescue energy companies on the verge of collapse.
Oil tycoon Pickens backs Trump call for temporary ban on Muslims
T. Boone Pickens, the oil tycoon who made and lost fortunes targeting some of the largest U.S. explorers over the past 40 years, said he supports Donald Trump for president and backed the presumptive Republican nominee’s call for a temporary immigration ban on Muslims.
Oil rises to six-month high as Nigeria, US supply tightens
Oil advanced to its highest intraday level in six months as supply reductions around the world, from the US and Canada to Nigeria, helped whittle away the global surplus.
If you like delivering bad news, Petrobras has the job for you
What used to be corporate Brazil’s top job as chief executive officer is now a tough gig to sell.
Billionaire Ruias seek to pump India’s first shale natural gas
Essar Oil Ltd. has approached the government for permission to further explore shale formations in its eastern India coal-bed methane block as part of its effort to maximize the production of unconventional resources.
Newfield may sell Eagle Ford assets said valued at $500m
Newfield Exploration Co. has hired two investment banks to find buyers for its acreage in Texas’s Eagle Ford basin and other oil plays as it seeks to focus on Oklahoma’s Anadarko region.
Nigeria oil output drops further as leak compounds security woes
At least a fifth of Nigerian oil production, equivalent to almost 400,000 barrels a day, has been shut down as a pipeline closure added to disruptions caused by militant attacks.
Taqa reports $166m loss in first quarter
Abu Dhabi National Energy Co., which produces oil and natural gas from Canada to North Africa, reported a net loss for the first quarter as revenue declined because of lower crude and natural gas prices.
Bilfinger quarterly loss widens as two directors step down
Bilfinger SE’s quarterly loss widened as the embattled German engineering and real-estate services company faces a shareholders’ meeting later today and the loss of two directors.
Oil billions offer richest Scandinavians a negative-rate buffer
While the rest of Scandinavia turns into a laboratory for negative rate policies, the Norwegians are finding that billions of dollars in government support may spare them such extreme monetary experiments.
Big Oil unexpectedly backing newest non-fossil fuels
Big oil is dipping a few more toes into clean energy.
Oil market `rebalancing’ for Qatar as OPEC heads for Vienna
Global oil demand is catching up with supply and the market should see a “rebalancing” in the second half of the year as cheaper crude has forced some production to close, Qatar’s Energy Minister Mohammad Al Sada said.
Saudi Aramco chief exec sees ‘significant growth’ in oil output in 2016
Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.