The logo of Qatar Petroleum is seen at its headquartes in Doha, Qatar, July 8, 2017. REUTERS/Stringer Total is well placed to take a lead role in helping Qatar expand output from the world’s largest gas field, largely thanks to its involvement in the Iranian s... More »
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files Canadian mergers and acquisitions rose about 13 percent to C$120.5 billion ($93.2 billion) in the first half of 2017,... More »
Department of Homeland Security emblem is pictured at the National Cybersecurity & Communications Integration Center (NCCIC) located just outside Washington in Arlington, Virginia September 24, 2010. REUTERS/Hyungwon Kang/File Photo The U.S government warned i... More »
FILE PHOTO: President and CEO Brian Ferguson of Cenovus Energy addresses shareholders during the company’s annual general meeting in Calgary, Alberta, April 29, 2015. REUTERS/Todd Korol Cenovus Energy Inc said on Tuesday it would replace Chief Executive Brian ... 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 »
FILE PHOTO: ConocoPhillips CEO Ryan Lance attends Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan on April 4, 2017. REUTERS/Toru Hanai/File Photo ConocoPhillips (COP.N) has beaten its 2017 asset sales target less than four months into t... 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 »
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 »
Greek Finance Minister Euclid Tsakalotos speaks during a news conference at the Ministry of Finance in Athens, Greece March 30, 2017. REUTERS/Alkis Konstantinidis Euro zone deputy finance ministers have recommended that Greek bailout review talks continue in A... More »
North Dakota oil production will get a shot in the arm next month as a pipeline comes online despite opposition by environmental groups and Native Americans, allowing the energy industry to save at least $540 million in annual shipping costs. More »
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas Jackson/File Photo A federal judge in Texas on Wednesday kicked an Exxon Mobil Corp lawsuit seeking to thwart... 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- Potential buyers look at models of a new public housing estate to be constructed in Singapore February 13, 2017. REUTERS/Edgar Su/File Photos Business sentiment at Asia’s top companies rose to its highest in almost two years in the first quarter of... More »
U.S. President Donald Trump speaks at the annual Friends of Ireland St. Patrick’s Day lunch honoring Irish Taoiseach Enda Kenny in the U.S. Capitol in Washington, U.S., March 16, 2017. REUTERS/Kevin Lamarque President Donald Trump’s proposal to do away with th... More »
FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas Jackson/File Photo BlackRock Inc(BLK.N), which wields outsized clout as the world’s largest asse... More »
The Senate confirmed Scott Pruitt to run the Environmental Protection Agency over the objections of Democrats and environmentalists worried he will gut the agency, as the administration readies executive orders to ease regulation on drillers and miners. REUTER... More »
U.S. Secretary of State Rex Tillerson stands during a meeting with Ukrainian Foreign Minister Pavlo Klimkin at the State Department in Washington, U.S., March 7, 2017. REUTERS/Joshua Roberts U.S. Secretary of State Rex Tillerson has recused himself from issues... More »
FILE PHOTO: A worker works at a construction site in Shanghai, China March 3, 2017. REUTERS/Aly Song/File Photo Lin Wong More »
U.S. President Donald Trump faces a news conference at the White House in Washington, U.S., February 16, 2017. REUTERS/Kevin Lamarque Oil executives cautioned it is too soon to gauge the impact of President Donald Trump’s policy proposals on their businesses, ... More »
FILE PHOTO – Pump jacks drill for oil in the Monterey Shale, California, U.S. on April 29, 2013. REUTERS/Lucy Nicholson/File Photo U.S. shale oil producers are plotting ambitious production growth outside the red-hot Permian Basin in Texas, widening a resurgen... More »
Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid A government watchdog group, Public Citizen, said on Wednesday it has asked lawmakers to investigate ... More »
Workers look at a drilling rig of the Rosneft-owned Prirazlomnoye oil field outside Nefteyugansk, Russia, August 4, 2016. REUTERS/Sergei Karpukhin/File Photo Oil prices fell in Asian trade on Monday, wiping out some of the gains of the previous session amid wo... More »
A car is filled with gasoline at a gas station pump in Carlsbad, California August 4, 2015. REUTERS/Mike Blake Demand for gasoline in the United States, which accounts for a tenth of global oil consumption, is expected to peak next year as engines become more ... More »
Samuel Merksamer, who represents billionaire Carl Icahn on several corporate boards, has exited the activist investor’s firm and a source familiar with his plans said that he is exploring launching his own hedge fund. More »
A Bharti Airtel office building is pictured in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India April 21, 2016. REUTERS/Adnan Abidi/File Photo Bharti Airtel , India’s largest telecoms network operator, is buying Norwegian Telenor’s I... More »
A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo China’s state-run Zhenhua Oil has signed a preliminary deal with Chevron (CVX.N) to buy the U.S. oil major’s natural gas fields in Bangl... 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 »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Wall Street is pushing back against a proposed rule to force U.S. banks like Goldman Sachs Group Inc to h... More »
Commuters are reflected on an advertisement of Reliance Industries’ Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh Andrade Reliance Industries’ Jio telecoms unit will charge a tariff for its services from April, but will... 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 »
FILE PHOTO – A Reliance employee demonstrates Jio LYF phone at their headquarters on the outskirts of Mumbai, India, June 1, 2016. REUTERS/Clara Ferreira Marques/File Photo India’s richest man Mukesh Ambani is likely to announce on Tuesday that Reliance Indust... More »
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 activist investor Carl Icahn increased his holdings in Herbalife Ltd ... More »
U.S. President-elect Donald Trump sits with PayPal co-founder and Facebook board member Peter Thiel, Apple Inc CEO Tim Cook, Oracle CEO Safra Catz and Tesla Chief Executive Elon Musk during a meeting with technology leaders at Trump Tower in New York U.S., Dec... 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 »
ExxonMobil Chairman and CEO Rex Tillerson speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer/File Photo The central question facing Exxon Mobil Corp Chief Executive Rex Tillerson if he becomes U.S. sec... More »
U.S. President-elect Donald Trump is shown at his election night rally in Manhattan, New York, U.S., November 9, 2016. REUTERS/Jonathan Ernst Activist shareholders plan a record number of resolutions focused on climate change at U.S. company annual meetings in... More »
U.S. President-elect Donald Trump gestures from the front door at the main clubhouse at Trump National Golf Club in Bedminster, New Jersey, U.S., November 20, 2016. REUTERS/Mike Segar The Obama administration signed its final plan for renewable fuel use in the... More »
Yoghurt by French foods group Danone is seen in this photo illustration shot in Strasbourg, April 15, 2015. REUTERS/Vincent Kessler/File Photo Dutch chemical technology firm Avantium will announce an initial public offering (IPO) this week to fund production o... More »
Residents stand on a pier ahead of Hurricane Matthew in Les Cayes, Haiti, October 2, 2016. REUTERS/Andres Martinez Casares Haiti and Jamaica urged residents in vulnerable coastal areas to evacuate and Cuba suspended flights on Sunday as bands of rain from Hurr... More »
A man talks on his mobile phone in the village of Devmali in the desert state of Rajasthan, India June 14, 2016. REUTERS/Himanshu Sharma India started its biggest ever telecoms airwaves auction on Saturday, receiving 535.31 billion rupees ($8.04 billion) worth... More »
Inesia Laguerre cradles her grandchild at the shelter set up in the Lycee Philippe Guerrier ahead of Hurricane Matthew in Les Cayes, Haiti, October 2, 2016. REUTERS/Andres Martinez Casares AU-PRINCE (Reuters) – Fears mounted in Haiti as Hurricane Matthew edged... More »
Out of fuel signs are pictured on gas pumps at a Mapco gas station at Spence Lane and Lebanon Pike in Nashville, Tennessee, U.S. September 17, 2016. REUTERS/David Mudd Retail gasoline prices surged due to continuing problems with Colonial Pipeline Co’s gasolin... More »
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. REUTERS/Andrew Cullen Oil prices rose almost 2 percent on Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an outpu... More »
A Microsoft logo is seen on an office building in New York City in this July 28, 2015 file photo. REUTERS/Mike Segar/Files Technology, media, pharmaceutical and other companies, along with major corporate lobbying groups, filed legal briefs on Friday in suppor... More »
By Svea Herbst-Bayliss | BOSTON BOSTON Billionaire investor Daniel Loeb’s hedge fund Third Point added new bets in the energy and information technology sectors with investments in Whiting Petroleum Corp., Facebook and Activision Blizzard Inc, according to reg... More »
LONDON Oil fell on Monday morning, reversing earlier gains, as increases in OPEC production and U.S. oil rig additions continued to weigh on the market. Brent crude was down $0.44 at $43.09 a barrel at 0854 GMT (4:54 a.m. ET) from the previous settlement, afte... 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 »
LONDON BP has agreed to renew five-year sponsorship deals with several British cultural institutions, including the British Museum, just days after reporting a 45 percent drop in profits. In May the British Museum was forced to temporarily close after Greenpea... 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 »
MANILA Patrolling downtown Manila in his new Toyota, Uber driver Daniel Canezal is grumpy. It’s not from the heat, grime or traffic of the capital’s clogged streets – it’s the Philippines’ ramshackle internet service that is making his life a misery. Since sig... More »
SINGAPORE/LONDON Oil industry hopes that markets are about return to balance, ending a global glut that pulled down prices by over 70 percent between 2014 and early 2016, might be abruptly dashed. Despite recent disruptions and output cuts, there is mounting e... 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 »
U.S. bank Goldman Sachs, one of the most bearish forecasters on oil over the past year, on Monday raised its short-term price outlook as it said the market had flipped into a deficit due to production outages in Nigeria and Canada. Goldman, one of the most act... More »
DHAHRAN Saudi Aramco is in the final stages of preparing options for its initial public offer of shares before presenting the options soon to its Supreme Council for consideration, chief executive Amin Nasser said on Tuesday. Aramco has a huge team working on ... More »
SINGAPORE Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts to Saudi and Iraqi oil since 2007-2008, raising the stakes in its fight to regain market share. This is third time Iran has change... 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 »
SINGAPORE Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Ar... More »
HONG KONG/SINGAPORE U.S. oil and gas major Chevron Corp has put all of its Myanmar gas block stakes up for sale, which at a combined likely valuation of $1.3 billion, would be the biggest deal involving Myanmar assets to date, financial sources familiar with t... More »
The average price of a gallon of gasoline in the United States gained 8 cents in the past three weeks, according to a survey released on Sunday. Regular-grade gasoline climbed to around $2.10 a gallon in the Friday survey, from $2.02 a gallon on March 18, surv... More »
MUMBAI Reliance Retail Ltd, the retail business of India’s energy conglomerate Reliance Industries Ltd, said on Saturday it planned a quick roll-out of its newly launched fashion and lifestyle e-commerce business. Reliance Retail, controlled by India’s richest... More »
The U.S. Securities and Exchange Commission has ruled Exxon Mobil Corp must include a climate change resolution on its annual shareholder proxy, a defeat for the world’s largest publicly traded oil producer, which had argued it already provides adequate carbon... More »
OKLAHOMA CITY Nearly 15 years since Enron’s collapse decimated the retirement accounts of its employees, hundreds of thousands of U.S. energy workers remain precariously exposed to big, concentrated bets on company stock in their 401(k) retirement plans. The s... More »
NEW YORK Fifty-stage frack jobs. Fifteen-foot cluster spacing. More than 2,000 pounds of proppant concentrate per foot. Top U.S. shale producers are pushing fracking technology to new extremes to get more oil out of their wells, as they weather lower-for-longe... 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 »
BEIJING/SINGAPORE Global oil traders have entered into rare barter deals with the National Iranian Oil Company (NIOC), supplying Iran with much-needed gasoline in exchange for high-quality fuel oil, after most economic sanctions against Tehran were lifted in J... More »
GRAND FORKS, N.D. In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning electron microscope, studying samples from the state’s vast Bakken shale oil formation. Kurz, a hydrogeologist, is part of a team, ... More »
HOUSTON New York state’s comptroller and four other Exxon Mobil shareholders asked the U.S. Securities and Exchange Commission this week to force the oil producer to include a climate change resolution in its annual shareholder proxy, according to a filing see... More »
HOUSTON The world’s top oil executives gathered in Houston this week seem to agree on one thing: this year is set to be so horrible that many skip right to 2017 and beyond to talk about hopes for market rebalancing that so far has eluded the battered industry.... More »
SINGAPORE/NEW DELHI Asia’s oil markets are being upended as India’s and China’s refiners overtake once-dominant buyers like Japan and challenge the United States as the world’s biggest consumer. The shifts are not only establishing new trade routes but are als... More »
BOSTON U.S. ratings agency Standard & Poor’s warned on Friday it may cut the credit rating of billionaire investor Carl Icahn’s Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months. S&P placed its t... 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 »
HOUSTON Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit. The cuts o... More »
SINGAPORE Oil prices rebounded on Tuesday, supported by strong Chinese fuel consumption and at least interrupting a slide to 2003 levels earlier in the week after the return of Iran to markets added to an already huge supply overhang. Traders said prices were ... More »
Ride-hailing app Lyft Inc, Uber Technologies Inc’s biggest competition in the United States, expects to raise up to $1 billion in a new round of financing, Bloomberg reported citing a Delaware state filing. The document filed by Lyft on Friday evening did not ... More »
NEW YORK The average price of gasoline in the United States resumed its slide over the past two weeks, dropping 11 cents to $2.14 a gallon, the lowest since late January, according to a Lundberg survey released on Sunday. The 5 percent decline in gasoline pric... More »
CARACAS Venezuelan President Nicolas Maduro on Monday said he was calling in the country’s ambassador in neighboring Guyana for consultations amid an escalating row over oil exploration in a disputed offshore territory. The OPEC nation in June demanded that Gu... More »
