The Latin American state-run oil companies whose largesse filled government coffers from Mexico to Brazil during the crude boom of the previous decade are quickly becoming dangerous liabilities as soaring debt levels spook investors.
Deal-making in the oil industry is about to jump.
Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and easing crude production.
A month after promising co-operation that would re-balance global oil markets, the producer coalition forged by Saudi Arabia and Russia is having difficulty taking its first step.
Oil slipped from a three-month high amid uncertainty about when a meeting between Saudi Arabia, Russia and other producers to freeze output will occur as Iran seeks to rebuild its exports.
Petroleos Mexicanos fully revoked a truck- leasing contract that was 63 percent more expensive than a prior agreement, saying selection of the providers didn’t adhere to the standards of Mexico’s state-owned oil company.
Saudi Arabian Oil Co. has asked consultants to bid for a role advising it on which assets to privatize and how to execute a potential share sale as the kingdom presses ahead with plans for an initial public offering, people with knowledge of the matter said.
Norway will remain a bulwark against global stock declines as its sovereign wealth fund, the world’s biggest, proves to be an odd-ball among oil-built investment vehicles.
Cairn Energy Plc gained the most in 16 months after the explorer reported positive results from an oil well off Senegal, potentially opening up commercial development for the area.
Chesapeake Energy Corp. is weighing a sale of some of its holdings in an oil-soaked patch of shale in Oklahoma known as the Stack, as the natural gas giant unloads assets to pay down debt, according to people familiar with the matter. The Oklahoma City-based company recently interviewed advisers to oversee a potential sale, said the people, who asked not to be identified because the matter isn’t public. It has also held informal talks with potential buyers, they said.
Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53 billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the chief executive officer by putting the enlarged company in pole position to exploit a market upturn.
It's the best of times in commodities markets, it's the worst of times in commodities markets.
U.S. crude production will fall to its lowest since 2013 next year as battered shale drillers idle rigs to conserve cash, according to a government report.
While the world focuses on Russia’s oil- freeze talks with OPEC, there are discussions behind closed doors in the Kremlin that will have a much more significant impact on the nation’s energy industry.
The impeachment campaign against Brazilian President Dilma Rousseff regained momentum last week after police questioned her predecessor Luiz Inacio Lula da Silva on allegations he benefited from a kickback scheme at state-run oil company Petrobras.
Marcelo Odebrecht, the former head of one of Brazil’s largest industrial conglomerates, was sentenced to 19 years and four months in jail for crimes including corruption and money laundering.
Brent oil extended gains after rising above $40 a barrel for the first time since December.
The death sentence of Iranian billionaire Babak Zanjani can be commuted if he cooperates by returning the money he was convicted of embezzling, Justice Minister Mostafa Pour Mohammadi said.
Brent oil halted gains above $40 a barrel as forecasts that U.S. stockpiles would remain at the most since 1930 competed with speculation producers may agree to an output freeze.
For a succinct explanation of why Vale and Fortescue Metals are setting up a joint venture to sell some 80 million to 100 million metric tons of iron ore a year, your first stop should be the British-Irish sitcom Father Ted.
Charlie Fairbank, the great grandson of one of the world’s first oilmen, has turned to a century-old technology to keep his 350 Ontario oil wells competitive in a world of $35 crude.
Hillary Clinton’s promise during a debate Sunday to aggressively regulate fracking deepens the divide between Republican and Democratic presidential candidates on oil and gas development and signifies her continued shift to the left on environmental issues.
Oil advanced to $40 a barrel in London for the first time since December as U.S. drillers cut the number of active rigs to the least in more than six years amid a global glut.
The United Arab Emirates foresees a “correction” in crude prices by the end of the year, and the OPEC member has yet to receive an invitation to a possible meeting of oil-producing nations seeking to rein in a global supply glut, Energy Minister Suhail Al Mazrouei said.
The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of 1 million barrels of crude in just 17 days, but its journey has been four years in the making.
