NEW YORK (Reuters) – The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, indust... More »
(Reuters) – U.S. President Donald Trump’s suggestion on Sunday that Exxon Mobil or another U.S. oil company operate Syrian oil fields drew rebukes from legal and energy experts. “What I intend to do, perhaps, is make a deal with an ExxonMobil or one of our gre... More »
SINGAPORE (Reuters) – Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand. Global benchmark Brent crude oil futures LCOc1 were down 1 cent to $59.41 a barrel by... More »
BEIJING (Reuters) – Many privately held firms in Shandong, China’s third-biggest province by economic output, are struggling to repay short-term debt due to declining industry fundamentals, entangled cross guarantees and ill-managed investments, S&P Global Rat... More »
WASHINGTON (Reuters) – U.S. Energy Secretary Rick Perry will not turn over documents to congressional Democrats who had subpoenaed them over his role in Ukraine as part of their impeachment probe into President Donald Trump, a department official said in a let... More »
MAPUTO (Reuters) – Mozambicans voted on Tuesday in an election that could test a fragile two-month-old peace deal between the ruling Frelimo party and its old civil war foe turned opposition rival Renamo. The presidential, legislative and provincial polls are ... More »
LONDON (Reuters) – Royal Dutch Shell (RDSa.L) still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an inte... More »
LONDON (Reuters) – Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said. The Malaysian assets, which include sta... More »
TOKYO (Reuters) – SoftBank Group (9984.T) CEO Masayoshi Son said is “embarrassed and flustered” by his track record, in comments to Nikkei Business magazine. “When I look at the growth of U.S. and Chinese companies, I feel strongly it’s not good enough,” Son s... More »
SINGAPORE (Reuters) – Oil prices were mixed on Monday with traders pegging cautious hopes for a rebound from last week’s losses on progress in talks on ending the U.S.-China trade war, against a backdrop of global economic slowdown weighing on future oil deman... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved as an ongoing trade war with the United States weighs on demand growth at the world’s largest crude importer. Brent crude LCOc1 fut... More »
WASHINGTON (Reuters) – Saudi Arabia’s crown prince warned in an interview broadcast on Sunday that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but said he would prefer a political solution to a milit... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also ... More »
DUBAI (Reuters) – The resignation of White House National Security Adviser John Bolton, a hawk on Iran, will not lead to talks between Washington and Tehran, Iran said on Wednesday. President Hassan Rouhani urged the United States to end its policy of “maximum... More »
MANILA (Reuters) – Philippine President Rodrigo Duterte said his Chinese counterpart has offered Manila a controlling stake in a joint energy venture in the South China Sea, if it sets aside an international arbitral award that went against Beijing. Duterte sa... More »
TOKYO (Reuters) – (This August 29 story has been corrected to say China National Offshore Oil Corp, not CNOOC Ltd, in paragraph three.) Japan imported its first cargo of liquefied natural gas (LNG) from China in July as utilities from the world’s biggest buyer... More »
SHANGHAI/BEIJING (Reuters) – When China launched the expansion of the Shanghai free trade zone (FTZ) recently and announced six new FTZs in July, officials touted the efforts to attract foreign investment and deepen trade ties with neighboring countries. Yet, ... More »
ALGIERS (Reuters) – On the face of it, Algeria’s state-dominated economy has weathered six months of turmoil well, with flightloads of public sector workers heading abroad for holidays even as protesters who ousted the veteran president in April now target his... More »
BIARRITZ, France (Reuters) – Iran has an opportunity to come back into compliance with the nuclear deal and resume dialogue about its nuclear activities, British Prime Minister Boris Johnson said on Monday. U.S. President Donald Trump said earlier he would mee... More »
SAO PAULO/RIO DE JANEIRO (Reuters) – Brazil’s planned privatization of eight Petroleo Brasileiro SA (PETR4.SA) refineries has lured several of the world’s largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. ... More »
DUBAI (Reuters) – An Iranian tanker sailed through the Mediterranean toward Greece on Monday after it was released from detention off Gibraltar, and Tehran said that any at U.S. move to seize the vessel again would have “heavy consequences”. The Grace 1, renam... More »
LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
DUBAI (Reuters) – Iran has warned the United States against any new attempt to seize an Iranian oil tanker in open seas after it left Gibraltar, the Iranian Foreign Ministry spokesman said on state television on Monday. The Iranian tanker caught in a standoff ... More »
SINGAPORE (Reuters) – China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter t... More »
WASHINGTON (Reuters) – Iowa’s Republican Senator Chuck Grassley said the Trump administration’s Environmental Protection Agency has “screwed” the U.S. ethanol industry and farmers by granting waivers to 31 small petroleum refineries, effectively exempting them... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
BEIJING (Reuters) – China will push to attract more high-tech manufacturers to set up in the world’s No.2 economy, the nation’s commerce ministry said late on Friday, without giving further details. The comment came as the nation’s exports unexpectedly returne... More »
WASHINGTON (Reuters) – The Trump administration on Friday unveiled a proposal that would curb state powers to block pipelines and other energy projects, part of the Trump administration’s effort to boost domestic oil, gas and coal development. The U.S. Environ... More »
GENEVA (Reuters) – Iran’s elite Revolutionary Guards published footage on Monday purportedly showing the Guards warning off a British warship during their July 19 seizure of a British-flagged oil tanker near the Strait of Hormuz, according to the Tasnim news a... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may in... More »
SINGAPORE/BEIJING (Reuters) – China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world’s biggest impo... More »
GENEVA (Reuters) – Britain’s seizing of an Iranian oil tanker last week was a threatening act that will not be tolerated, Iran’s Defence Minister Amir Hatami said on Monday in a speech broadcast live on state television. Royal Marines impounded the tanker in G... More »
(Reuters) – Morgan Stanley lowered its long-term Brent price forecast on Tuesday and said the oil market is broadly balanced in 2019 after OPEC and its allies including Russia agreed to extend their production cuts by even longer than expected. The bank lowere... More »
VIENNA (Reuters) – OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global ... More »
LONDON (Reuters) – Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures touched an intraday high of $66.75 a... More »
DUBAI (Reuters) – Iran will never succumb to U.S. pressure and if Washington wants talks with Tehran it should show respect, Foreign Minister Mohammad Javad Zarif said on Monday. Tension between Tehran and Washington have risen sharply in recent weeks, a year ... More »
DUBAI/WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday he was not seeking war with Tehran after a senior Iranian military commander warned any conflict in the Gulf region could spread uncontrollably and threaten the lives of U.S. troops. Tensi... More »
WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo announced on Sunday he will travel to Saudi Arabia and United Arab Emirates for talks, and repeated his offer for negotiations with Iran “with no preconditions” to de-escalate tensions. “We’re prepared... More »
JERUSALEM (Reuters) – Iran is feeling the effects of existing U.S. sanctions as President Donald Trump prepares to impose more of them from Monday, his National Security Adviser John Bolton said on Sunday during a visit to Israel. While flagging further sancti... More »
PARIS (Reuters) – Energy major Total said its new supercomputer – which has propelled it to a world ranking as the most powerful computer in the sector – will enable its geologists to find oil faster, cheaper and with a better success rate. The Pangea III comp... More »
BEIJING (Reuters) – The Chinese government’s top diplomat warned on Tuesday that the world should not open a “Pandora’s Box” in the Middle East, as he denounced U.S. pressure on Iran and called on it not to drop out of a landmark nuclear deal. Fears of a confr... More »
(Reuters) – Saudi air defenses intercepted two Houthi drones, one of them targeting a residential area in the southern city of Abha, the Saudi press agency said on Tuesday, citing the Saudi-led coalition. Al Masirah TV, citing a military spokesman, said on Mon... More »
WASHINGTON (Reuters) – The United States is preparing to send additional troops to the Middle East in response to mounting concerns over Iran, which Washington blames for attacks on oil tankers last week, two U.S. officials told Reuters on Monday, speaking on ... More »
WASHINGTON (Reuters) – The U.S. military on Monday released new images it says showed Iran’s Revolutionary Guard (IRGC) removing an unexploded limpet mine from a Japanese-owned tanker that was attacked on June 13 in the Gulf of Oman, as Washington blames Tehra... More »
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand. Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, ... More »
SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
LONDON (Reuters) – Investment banks are beefing up trading teams in markets such as gas, metals and carbon permits that are flourishing as businesses and economies become greener, according to recruitment consultants. The shift in staffing at the world’s bigge... More »
KHARTOUM (Reuters) – Sudanese forces entered the site of a sit-in in central Khartoum early on Monday amid gunfire, witnesses and Arab television stations said, in what activists described as an attempt to disperse protesters demanding civilian rule. A medical... More »
SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. F... More »
SINGAPORE (Reuters) – Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday. Total capital expenditure in renewables will rise above $30 billion in the region ... More »
SINGAPORE (Reuters) – Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC’s supply cuts provided some support. U.S. West Tex... More »
NEW YORK (Reuters) – The Trump administration made it easier for oil refineries to get waivers from the nation’s biofuel law at least four months before a 2017 court decision it often cites to justify the move to the corn lobby, and the move was motivated by a... More »
DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »
SANTANDER, Spain (Reuters) – A Saudi ship, prevented by rights groups from loading an arms cargo at the French port of Le Havre on Friday, arrived at the Spanish port of Santander early on Monday. It was not clear what the Saudi ship was doing in Santander or ... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
SINGAPORE (Reuters) – Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest sinc... More »
WASHINGTON/SINGAPORE (Reuters) – The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their ... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
NEW YORK (Reuters) – U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Those two companies ... More »
ABU DHABI (Reuters) – Abu Dhabi will commit up to 1 billion dirhams ($272 million) to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy. U.S. tech giant Microsoft will be a strategic partner, provid... More »
DEER PARK, Texas (Reuters) – Hundreds of neighborhood residents of a petrochemical plant that burned for three days and briefly emitted cancer-causing benzene into the air brought their coughs, headaches and other symptoms to a mobile clinic on Friday set up b... More »
WASHINGTON/LOS ANGELES (Reuters) – U.S. solar and wind power companies may have the most to gain from the Green New Deal, an ambitious proposal backed by several Democratic presidential candidates to end U.S. fossil fuel consumption within a decade. But do not... More »
PARIS (Reuters) – The board of French oil and gas major Total has proposed total 2018 compensation for Chief Executive Patrick Pouyanne of 3.1 million euros ($3.55 million), compared with 3.8 million in 2017, company documents showed on Wednesday. The total pa... More »
MANAMA (Reuters) – As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment. A new sales tax introduced this year means gov... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
BAGHDAD (Reuters) – Iranian President Hassan Rouhani sharply criticised U.S. military intervention in the Middle East on Monday as he began a first official visit to Iraq, aimed at shoring up Tehran’s influence and expanding trade ties. The visit also sends a ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. U.S. West Texas Intermediate (WTI) crud... More »
(Reuters) – The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more U.S. sanctions to cut off Maduro’s financ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth. International Brent futures were at... More »
LONDON (Reuters) – Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasse... More »
MUMBAI (Reuters) – Indian traders will export raw sugar to Iran for March and April delivery, five trade sources said, the first Indian sugar sales to Tehran in at least five years as Iran struggles to secure food supplies under sanctions imposed by the United... More »
OSLO (Reuters) – Two crane ships early on Tuesday began raising a submerged Norwegian navy frigate which collided with an oil tanker in November and has remained stranded off Norway’s west coast since, the armed forces said. The accident injured eight people a... More »
SINGAPORE (Reuters) – Oil inched lower on Tuesday to extend losses of more than 3 percent from the previous session, easing after U.S. President Donald Trump called on OPEC to rein in its efforts to boost prices. International Brent futures were at $64.70 a ba... More »
(Reuters) – Southern California Gas continued to urge customers to use less natural gas on Friday to avoid straining its system as cold blankets its service area after restoring more withdrawal capacity at its Aliso Canyon storage facility in Los Angeles. On T... More »
LONDON (Reuters) – Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil maj... More »
SEOUL (Reuters) – State-owned Saudi Aramco plans to invest up to $1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil. Saudi Aramco is already the biggest sha... More »
SINGAPORE (Reuters) – Oil prices fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slo... More »
RIYADH (Reuters) – Agreements worth 235 billion riyals ($63 billion) were signed on Monday on the sidelines of a Saudi Arabian industrial development conference in the Saudi capital Riyadh, said Al Arabiya TV. No details were available on the nature of the agr... More »
KHARTOUM (Reuters) – Sudan’s President Omar al-Bashir insisted on Monday that he would not step down after weeks of violent protests and calls for him to quit over a worsening economic crisis. Protests have rippled across Sudan since Dec. 19 in the most sustai... More »
LONDON (Reuters) – Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand. China’s exports fell by the most in two years ... More »
(Reuters) – Newmont Mining Corp said on Monday it would buy smaller rival Goldcorp Inc in a deal worth $10 billion, creating the world’s biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal. The deal, the second high-profi... More »
MOSCOW (Reuters) – Russian Prime Minister Dmitry Medvedev said on Monday that Moscow has never promised Belarus any help over losses incurred due to an overhaul of Russia’s oil tax after Minsk requested compensation. Russia has kept Belarus in its political or... More »
SINGAPORE (Reuters) – Oil prices rose by around 1 percent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy. U.S. West Texas Interme... More »
LONDON (Reuters) – Oil prices rebounded on Friday, recovering slightly from heavy losses this week, but remained close to the lowest levels in over a year as rising U.S. inventories and concern over global economic growth rattled markets. Brent crude oil LCOc1... More »
KHARTOUM (Reuters) – Authorities in Sudan have arrested at least nine opposition leaders and activists, a group of civil society groups said on Friday, ahead of fresh anti-government protests expected after weekly Muslim prayers. The head of the media office a... More »
MEXICO CITY (Reuters) – Mexico’s government unveiled a plan on Thursday to step up use of the armed forces to combat fuel theft, vowing to root out corrupt officials it says are largely responsible for a problem that has cost the country billions of dollars. P... More »
CAIRO (Reuters) – U.S. Secretary of State Mike Pompeo assured Iraqi Prime Minister Adel Abdul Mahdi that the U.S. is still committed to fighting Islamic State in Iraq and other areas despite its planned troop withdrawal from Syria, Abdul Mahdi’s office said on... More »
DUBAI (Reuters) – Iran said that the U.S. military presence in Syria had been “a mistake, illogical and a source of tension”, in Tehran’s first reaction to President Donald Trump’s planned pull-out. Trump has begun what will be a total withdrawal of U.S. troop... More »
LONDON (Reuters) – Oil fell on Monday, in line with further declines in global stock markets, erasing the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January. Brent crude oil futures fell $1.02 on... More »
LONDON (Reuters) – Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. ... More »
NEW YORK (Reuters) – Oil prices jumped by more than 3 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.... More »
DOHA (Reuters) – Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show unity in tackling an oil price slide. Doha, one of OPEC’s smallest oil producers but the world’s bi... More »
NEW YORK (Reuters) – Brenham Capital Management LP, an energy equities fund manager with about $800 million in assets under management, will shut after two years of losses, its founder said in a letter to investors on Friday. The Dallas-based fund will be liqu... More »
LONDON (Reuters) – Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea. Iranian Supreme Leader A... More »
ERBIL, Iraq (Reuters) – Kurdish security forces killed gunmen who had stormed a government building in the Kurdish city of Erbil on Monday and took hostages in an attack suspected of being carried out by Islamic State, security officials said, Armed with pisto... More »
TOKYO/LONDON (Reuters) – Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months... More »
BEIJING (Reuters) – Chinese President Xi Jinping on Tuesday pledged a package of $20 billion in loans, and about $106 million in financial aid, to Middle East nations, as part of what he called an “oil and gas plus” model to revive economic growth in the regio... More »
CALGARY, Alberta (Reuters) – The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC alone cannot be blamed for all the problems ... More »
MOSCOW (Reuters) – Russian Prime Minister Dmitry Medvedev has signed a decision imposing extra duties of 25-40 percent on some imports from the United States in response to Washington’s tariff move, the Russian economy ministry said on Friday. The extra duties... More »
