Brent over $40 after biggest three-week jump
Oil extended gains following the biggest advance in three weeks after crude stockpiles unexpectedly declined from the highest level in more than eight decades.
Gas drillers go rigless as price collapse heralds austerity era
Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging.
Keystone oil pipeline shuts and oversupplied US market shrugs
This week’s shutdown of the Keystone oil pipeline has stopped up the route for roughly a quarter of the crude flowing into the U.S. Midwest.
Halliburton’s dying bid shows antitrust cops pounding mega-deals
The corporate deal-making boom last year was one for the record books. The harder part: Winning the blessing of emboldened antitrust officials in the Obama administration’s last year.
Oil extends gain amid freeze pact optimism, declining supplies
Oil extended gains for a second day after Kuwait said a deal to freeze output can be reached without Iran and U.S. industry data showed crude stockpiles declined.
Halliburton said to face US lawsuit on Baker Hughes deal
U.S. antitrust officials have prepared a lawsuit to stop Halliburton Co. from taking over rival oil-services company Baker Hughes Inc., according to a person familiar with the matter.
Chevron halts production at $54billion Gorgon LNG Development
Chevron Corp. temporarily halted output at its $54billion Gorgon liquefied natural gas project in Australia due to mechanical problems just two weeks after making the first shipment to Japan.
Saudis want to double their stock market for a post-oil economy
Saudi Arabia plans to almost double the size of its stock market, among the most closed in the world, by adding dozens of companies and making it easier for foreigners to invest.
Oil extends decline as US crude supplies seen expanding glut
Oil extended declines from a one-month low before U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades.
Norway highlights risks to expanding wealth fund investments
Norway signaled there are risks to expanding the wealth fund’s investments in unlisted assets, properties and infrastructure as it prepares to present a review.
Abu Dhabi’s oil chief sees crude market balancing by end of 2017
Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co.
Lukoil full-year profit declines 26% after crude-oil prices drop
Lukoil PJSC, Russia’s second-largest oil producer, said profit fell 26 percent last year following a slump in crude prices and a change in accounting.
Oil speculators bet rallies over as doubts grow on output freeze
Money managers lost faith in oil’s recent rally as doubts grew over whether major producers will be able to agree on an output freeze.
Saudi Arabia plans $2trillion megafund for post-oil era
Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets.
Oil erases 2016 gains as Saudis say output freeze hinges on Iran
Oil erased its gains for the year in New York as Saudi Arabia’s deputy crown prince said the kingdom will only freeze production if Iran and others follow suit.
Saudi Arabia plans $2 trillion megafund for post-oil era: Deputy Crown Prince
Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets.
Saudi Arabia to sell stake in parent of state oil giant by 2018
Saudi Arabia plans to sell a stake “of less than 5 percent” in the parent of its state-owned oil company, the kingdom’s deputy crown prince said, revealing details of a listing that could make it the world’s biggest publicly traded firm.
Venezuela opposition says Rosneft’s $500m deal is invalid
Venezuela’s opposition-controlled National Assembly is questioning the legality of a $500 million deal Rosneft OJSC made with the state oil company to increase its stake in a local oil venture.
Oil set for first weekly drop since February amid swelling glut
Oil headed for the first weekly decline since February as OPEC production rose and expanding US stockpiles kept inventories at the highest level in more than eight decades.
Taqa hit by losses, 900 job cuts since 2014
Abu Dhabi National Energy Co., the government-controlled utility pumping crude and natural gas from Canada to the UK, said it’s cutting capital expenditure and planning to sell assets after low oil prices slashed oil and gas revenue by almost half.
Exxon climate science probe expands as New York gains allies
Massachusetts became the latest state investigating whether Exxon Mobil Corp. misled investors and the public about how climate change may affect its business.
Asia can’t seem to escape its addiction to Middle East oil
Even in a world awash with crude, buyers in the world’s biggest oil market can’t seem to escape their addiction to Middle East supplies.
Norway unemployment jumps to decade high amid oil plunge
Norway’s unemployment rate jumped to the highest in more than a decade as a slump inoil prices weighs on an expansion in western Europe’s biggest crude producer.
Crude at $40 isn’t the only problem facing Norway’s oil industry
The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade.
Mexico first power auction awards 1,720 megawatts of wind, solar
Renewable energy developers won contracts to produce 1,720 megawatts of power in Mexico during the country’s first-ever private auction, after the government ended a decades-long state electricity monopoly in 2013.