An Eikon ship-tracking screen shows tanker traffic around Qatar over the last seven days in this June 6, 2017 illustration photo. REUTERS/Thomas White/Illustration Abu Dhabi petroleum port authorities have eased restrictions on oil tankers going to and from Qa... More »
FILE PHOTO: A view of the London skyline shows the City of London financial district, seen from St Paul’s Cathedral in London, Britain February 25, 2017. REUTERS/Neil Hall/File Photo Global investors are distinguishing between the UK and the rest of Europe as ... More »
Signboards display fuel prices at an ENI petrol station in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi Oil majors BP and Eni are deepening their foray into blockchain technology, starting to run blockchain trades in parallel with their live trading s... More »
Iraqi Oil Minister Jabar Ali al-Luaibi speaks during a media conference with Saudi Energy Minister Khalid al-Falih (not pictured) in Baghdad, Iraq, May 22, 2017. REUTERS/Khalid al Mousily Iraqi Oil Minister Jabar Ali al-Luaibi said on Thursday that extending t... More »
Venezuela’s Oil Minister Nelson Martinez talks to journalists after a meeting in Vienna, Austria May 24, 2017. REUTERS/Leonhard Foeger Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and lo... More »
A hooded man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration Asian governments and businesses reported some disruptions from the WannaCry ransomware worm on Monday... More »
FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York, U.S. on February 11, 2014. REUTERS/Brendan McDermid/File Photo Billionaire investor Carl Icahn’s oil refining company, CVR Energy, m... More »
FILE PHOTO – A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford/File Photo Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buye... More »
NAmerico Partners LP is proposing a multibillion-dollar pipeline to ferry natural gas from fast-growing fields in West Texas to the Gulf Coast, the company said on Monday, angling to match plans by rivals such as Kinder Morgan Inc (KMI.N). More »
FILE PHOTO — A pump jack stands idle in Dewitt County, Texas January 13, 2016. REUTERS/Anna Driver/File Photo U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the co... More »
FILE PHOTO: A Saudi Aramco employee sits near the Saudi Aramco stand at the Middle East Petrotech 2016 in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed/File Photo Saudi Arabia is having “serious discussions” with the New York Stock Exchange abo... More »
A worker checks the valves at Al-Sheiba oil refinery in Basra, Iraq, January 26, 2016. REUTERS/Essam Al-Sudani/File Photo OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the bi... More »
FILE PHOTO – Oil and gas tankers sit anchored off the Fos-Lavera oil hub near Marseille, southeastern France, December 12, 2008. REUTERS/Jean-Paul Pelissier/File Photo Oil traders from around the world, including the United States, Britain and Brazil, have tri... More »
An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. REUTERS/Todd Korol Goldman Sachs expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the Unit... More »
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo Chinese independent, or teapot, refiners are bringing in rare cargoes of North American heavy crude in a new long-distance ... More »
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo The first independent audit of Saudi Aramco’s [IPO-ARMO.SE] oil reserves has confirmed the state oil company’s own figures, sou... More »
A soldier patrols in front of the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 29, 2016. REUTERS/Heinz-Peter Bader A committee set up to monitor oil output cuts by OPEC and non-OPEC producers will me... More »
Qatar Energy Minister Mohammed Al-Sada said on Sunday that even with an increase in drilling rigs, the oil market is likely to reach a balance as producers implement agreed output cuts. More »
Azerbaijan would support additional cuts to global crude oil production if such a decision is made by other oil producers within and outside OPEC, RIA news agency quoted Azeri President Ilham Aliyev as saying on Thursday. More »
A general view shows the headquarters of Gazprom in Moscow, Russia, June 30, 2016. REUTERS/Maxim Shemetov/File Photo Japan’s Mizuho Bank Ltd [MZFGAE.UL] and Sumitomo Mitsui Banking Corp [SUMFGI.UL] are working on a deal to provide 800 million euros ($845 milli... More »
A fisherman repairs nets in Maputo, Mozambique, September 26, 2016. REUTERS/Grant Lee Neuenburg/File Photo Mozambique’s finance minister has a plan to deal with a debt crisis that threatens to derail one of Africa’s most promising frontier economies but invest... More »
Record global debt levels pose a clear risk to oil demand, the International Energy Agency said on Tuesday, citing figures from the International Monetary Fund last week that showed the world is awash with a record $152 trillion in debt. More »
Saudi Arabia’s Energy Minister Khalid al-Falih talks during the 23rd World Energy Congress in Istanbul, Turkey, October 10, 2016. REUTERS/Murad Sezer Saudi Arabia’s Energy Minister Khalid al-Falih will not attend meetings on Wednesday between OPEC and non-OPEC... More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Abu Dhabi investment firm Aabar Investments [INPTVA.UL] said on Tuesday it was fully behind its Falcon Private Bank unit after it was sanctioned in relation t... More »
An oil refinery is seen in Carson, California March 4, 2015. REUTERS/Lucy Nicholson Elizabeth Huber lost her job inspecting oilfield pipes nearly 20 months ago and her prospects remain bleak even as oil executives cautiously plot production and budget increase... More »
Brazil’s new President Michel Temer attends the presidential inauguration ceremony after Brazil’s Senate removed President Dilma Rousseff in Brasilia, Brazil, August 31, 2016. REUTERS/Ueslei Marcelino Brazil’s Senate ousted President Dilma Rousseff on Wednesda... More »
Boys sit on the Iraqi-Turkish pipeline in Zakho district of the Dohuk Governorate of the Iraqi Kurdistan province, Iraq, August 28, 2016. REUTERS/Ari Jalal Iraq’s government would consider selling crude through Iran should talks with the autonomous Kurdish reg... More »
BASRA, Iraq Iraq’s oil exports from its southern ports rose to 3.2 million barrels per day (bpd) on average in July, up from 3.175 million bpd in June, as the OPEC nation increased crude production, Iraqi oil officials said. Output at the Luhais field, operate... More »
NEW YORK Acquisition-hungry energy companies are back on the prowl. Dealmakers have recovered from the shock of Britain’s “Brexit” vote last month to leave the European Union and have resumed buying oil and gas fields in choice locations in Canada and the Unit... More »
MELBOURNE ExxonMobil Corp has made a bid worth at least $2.2 billion for InterOil Corp and its stake in a rich Papua New Guinea gasfield, winning the support of its target and topping an offer from Australia’s Oil Search Ltd. The bid pits ExxonMobil, the world... More »
MOSCOW Russian President Vladimir Putin and European Commission President Jean-Claude Juncker will talk about sanctions and energy projects when they meet in St Petersburg this week, Kremlin aide Yuri Ushakov told reporters. “The subject of sanctions will be r... More »
MOSCOW Exxon Mobil (XOM.N) Chief Executive Rex Tillerson is to attend a major investment forum in Russia this week, two industry sources said, ending a two year absence from the event that began when sanctions were imposed on Russia over the crisis in Ukraine.... More »
DHAHRAN, Saudi Arabia Saudi Arabia’s state-owned oil giant Aramco is seeking to expand globally via joint ventures overseas as it prepares for a partial privatization pushed by a government intent on diversifying the economy. The company is looking at opportun... More »
DHAHRAN, Saudi Arabia State oil company Saudi Aramco wants to expand globally and is looking at potential joint ventures in several countries, including Indonesia, India, the United States, Vietnam and China, chief executive Amin Nasser said on Tuesday. “We ar... More »
BRASILIA Brazil’s leftist President Dilma Rousseff suffered a humiliating loss in a crucial impeachment vote in the lower house of Congress on Sunday and is almost certain to be forced from office months before the nation hosts the Olympics. Fireworks lit up t... More »
DOHA A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive oil industry fears that ... More »
BERN/GENEVA Banking watchdogs across Europe have begun checking whether lenders have ties to a massive document leak from Panama that showed how offshore companies are used to stash clients’ wealth. Switzerland’s financial watchdog FINMA said on Thursday that ... More »
ISLAMABAD Pakistan and Iran aim to increase annual trade volumes between the two countries to $5 billion by 2021, Pakistani Prime Minister Nawaz Sharif said on Saturday. Sharif spoke at a business conference with Iranian President Hassan Rouhani, who arrived i... More »
SAO PAULO/BRASILIA Hundreds of thousands of Brazilians flooded the streets on Sunday in the biggest ever protests calling for President Dilma Rousseff’s removal, reflecting rising popular anger that could encourage Congress to impeach the leftist leader. The d... More »
ACAPULCO, Mexico BlackRock Inc Chief Executive Officer Larry Fink said on Friday that China may be the biggest hurdle to global financial markets and that central bankers are adding to risks with negative-interest rate policies. “China does represent maybe mor... More »
LONDON Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran ha... More »
MOSCOW President Vladimir Putin has called for a meeting with top managers of Russia’s leading oil producers on Tuesday, which is is expected to be dominated by low oil prices and taxation, industry sources said on Monday. The Vedomosti business daily cited a ... More »
Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly wedged in the low $30-per-barrel range, oi... More »
KUALA LUMPUR Petroliam Nasional Bhd (Petronas) [PETR.UL] is planning to slash spending by as much as 50 billion ringgit ($11.41 billion) over the next four years, as a slump in oil prices to multi-year lows pinches profits of the Malaysian state firm. Petronas... More »
BRASILIA Brazilian President Dilma Rousseff’s key ally in Congress is certain it can head off an impeachment threat, but in return the party demands a radical change of policy course to pull the economy out of its deepest downturn in 25 years. Senator Eunicio ... More »
SINGAPORE Crude oil prices dipped further on Monday after OPEC failed to agree on output targets to reduce a bulging glut that has cut prices by more than 60 percent since June 2014. The Organization of the Petroleum Exporting Countries failed to agree on an o... More »
BRASILIA A Brazilian judge on Thursday denied a request for the release of Grupo BTG Pactual SA (BBTG11.SA) top executive, Andre Esteves, who was arrested a day earlier for allegedly obstructing a massive corruption probe at state-run oil company Petrobras. Su... More »
Rolls-Royce Holdings PLC (RR.L) may announce a reduction of 400 management jobs in its marine division this week, the Financial Times reported, citing people familiar with the matter. Chief Executive Warren East’s aim with the marine restructuring will be to s... More »
LONDON Oil company Royal Dutch Shell (RDSa.L) is pulling out of exploration in Arctic waters off Alaska for the foreseeable future and could take a hit of up to $4.1 billion after failing to find enough oil. The unsuccessful drilling campaign is Shell’s second... More »
Companies and organizations are pledging to provide funds, goods and services to help thousands of migrants arriving in Europe from war-torn and impoverished countries. Companies are helping through both corporate and employee schemes. Following are some examp... More »
TORONTO Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a toll. Shares of Scotiabank, Canada’s third-largest bank, were down nearly 1 perc... More »
TORONTO/OTTAWA Canadian banks are expected to begin feeling the impact of an extended downturn in the energy sector as they exercise caution with new and existing loans to companies and individuals. Investors will this week be poring over the balance sheets an... More »
WASHINGTON President Barack Obama and Brazilian President Dilma Rousseff are set to meet at the White House on Tuesday during a visit aimed at bolstering economic ties and turning the page on a spying scandal. The two leaders will follow a morning meeting in t... More »
