China Petroleum & Chemical Corp.earnings beat analyst estimates as profit from turning crude oil into fuels offset the plunge in energy prices and more than $1 billion in writedowns by Asia’s biggest refiner.
Towns on the Great Plains are built to withstand tornadoes. Earthquakes are a new thing. A cluster of central states surrounding Oklahoma now faces the highest risk of earthquakes induced by human activities "such as fluid injection or extraction," according to a short-term seismic forecast by the US Geological Survey.
Commodities including oil and copper are at risk of steep declines as recent advances aren’t fully grounded in improved fundamentals, according to Barclays Plc, which warned that prices may tumble as investors rush for the exits.
Oil enthusiasts haven’t been jumping on board the latest rally.
Partners in Israel’s largest offshore gas field say a court ruling that blocked the government’s proposal to regulate the natural gas industry won’t derail their development plans. The nation’s oil and gas stock index sank.
Israel’s High Court struck down the government’s controversial proposal to regulate the natural gas industry, in a dramatic ruling that blocked plans to develop the country’s largest field and conclude export deals.
China’s love of cars and the gasoline that runs them is exacerbating an oversupply in another fuel decried by refiners across Asia, according to Bank of China International.
Oilrose for the first time in three sessions after the number of active rigs fell in the U.S., potentially easing a supply glut. Futures advanced as much as 1.1 percent in New York, paring a 4.8 percent loss in the previous two sessions. Rigs targeting oil in the U.S. fell by 15 to 372, according to Baker Hughes Inc. More than 150 have been parked since the start of the year.
Saudi stocks led Middle Eastern markets lower as oil languished near $40 a barrel and the Easter weekend holiday in Europe sapped volumes. Equities in Dubai extended the longest losing streak in more than two months.
A committee set up by Nigerian President Muhammadu Buhari to investigate the awarding of security contracts from 2011 to 2015 has found as much as 123 billion naira ($618 million) in fraudulent payments could be recovered, the government said.
Iraq’s Oil Minister Adel Abdul Mahdi suspended his participation in the cabinet, citing disarray in government ministries in OPEC’s second-biggest supplier.
Oil was poised for the first weekly decline since mid-February as US crude stockpiles expanded again, keeping supplies at the highest level in more than eight decades.
US oil prices tumbled from more than $100 a barrel in the summer of 2014 to less than $50 a year later, but that didn't stop workers from flocking to Texas, the nation's biggest energy-producing state.
An oil shock may be lurking around the corner as the price bust has hammered investment in future supply, according to the International Energy Agency.
Leaders of the world’s largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year.
Gunvor Group’s profit soared to a record $1.25 billion last year as the commodity trader sold the bulk of its Russian assets and earnings from oil trading increased.
Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was stalled for a third time by European Union regulators who said the companies have once again failed to supply key information about their proposed deal.
Anker Joergensen, the Danish prime minister who led the economy through two oil crises while the country recorded its slowest growth in the postwar era, has died. He was 93.
Oil fell for a second day, extending declines from a three-month high, as the number of drill rigs active in the U.S. rose for the first time in three months amid a global glut.
One of the warning lights that there’s too much oil around is no longer flashing, adding to signs that global crude markets are finally on the mend.
Saudi Arabia is telling international banks to publicly disclose financial statements for the first time as the kingdom’s regulator seeks to boost transparency.
ASX Ltd. Managing Director Elmer Funke Kupper resigned after 4 1/2 years in charge as police investigate activities in Cambodia of the Australian betting company he formerly led.
Mexico will hold a private bidding round for the nation’s shale oil fields this year in part to cater to continued interest from US drillers eyeing expansion south of the border, according to Deputy Energy Minister Lourdes Melgar.
TransCanada Corp. is undertaking its biggest-ever deal with the purchase of Columbia Pipeline Group Inc. for $10.2 billion, expanding its reach in the US natural gas market.
Even as it pumps near-record quantities of oil, Saudi Arabia is getting ready for a time when the world will no longer need its biggest export.
