World powers agreed a partial cease fire in Syria’s civil war, reaching a deal that could forestall a humanitarian crisis around the besieged city of Aleppo even amid skepticism about how broad and lasting the truce might be.
Backing the accord were all the major outside powers in the five-year-old conflict, including the U.S., Russia, Turkey, Saudi Arabia and Iran. But the halt to fighting won’t cover jihadist groups like Islamic State, meaning U.S., French and Russian air strikes against them will continue.
Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.
Drillers in the Permian Basin, the biggest US shale field, have raised at least $2 billion from share sales over the past eight weeks. And more issuances are on the way as producers try to avoid piling on additional debt.
Sales of cowboy boots have seen a decline in regions of the US where the economy is heavily impacted by the energy sector.
One US company, which specialises in Western and work-related footwear, said its sales had seen a drop in the last quarter.
Worldwide M&A activity in the power and renewable sector almost doubled last year, according to a new report.
PwC’s annual findings show momentum is expected to continue throughout 2016.
Republican Presidential candidate Donald Trump has claimed he would reject the Keystone XL pipeline if the US was not given a “big chunk” of profits by TransCanada.
Halliburton has reduced its headcount by another 4,000 jobs, the company said.
The losses happened in the final three months of last year, as the firm looked to manage finances amid the oil price decline.
The University of Louisiana has been displaying dozens of black-and-white images taken more than 40 years ago documenting the living and working conditions of coal miners.
Southwestern Energy said it will reduce its headcount by more than 40% in the first quarter as it pauses its US drilling program to cope with the decline in oil price.
Stick with oil, it’s could be the “trade of the year,” according to Citigroup Inc.
The outlook for crude isn’t all bad, even as prices head for the worst start to a year since 1991 and there are dire warnings of the world drowning in supply. Forecasters from UBS Group AG to Societe Generale SA are predicting a rebound in the second half and Citigroup says the market just needs to weather a surge of exports from Iran after the removal of sanctions.
Republican Presidential candidate Ted Cruz sold off all of his shares in oil major Chevron at the end of last year, according to transaction filings with the US Senate.
According to reports, the politician had done so as he needed the liquidity.
Empyrean Energy said it has entered into a conditional sale and purchase agreement with Carrier Energy Partners to dispose of its interest in the Sugarloaf development.
The deal is for an initial cash consideration of $61.5million and the company may also receive a contingent consideration of around $10million.
Iran is beginning efforts to boost oil production and exports amid a global supply glut after the removal of sanctions that shackled its economy and capped crude sales.
Never has corporate turnaround expert Jeff Huddleston been more needed or more dreaded.
Huddleston says he’s gotten used to being “the most hated guy” in the room over the past year as oil industry job losses topped 250,000and companies sought ways to curb spending. Turnaround specialists like him are about to get even busier in 2016, advising companies how to keep the lights on through the ugliest oil-market downturn in decades.
Oil in New York headed for its third weekly decline as Brent crude’s discount to U.S. prices increased on signs Iran is moving closer to boosting exports.
West Texas Intermediate futures dropped as much as 3.3 percent in New York and are down 8.4 percent for the week after slipping below $30 a barrel on Tuesday. International sanctions on Iran may be lifted Monday, allowing for a boost in oil shipments from the fifth-biggest member of the Organization of Petroleum Exporting Countries. The European benchmark’s discount to WTI widened to the biggest intraday gap since July 2010.
Motorists are being denied further savings on petrol from the tumbling oil price because of increased profit margins for refineries, experts have warned.
Oil prices have fallen by 30% since early December, with Brent crude sinking to $30 a barrel this week.
BHP Billiton said it expects to be hit with an impairment charge of $4.9billion post-tax against the carrying value of its onshore US assets.
The company said the charge will be recognised as an exceptional item in the financial results for the half year ended December 31, 2015.
