CAIRO (Reuters) – Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the market. Thamer al-Ghadhban said in a statement that the “massive oil cut deal will help lower oil inventories and boost pri... More »
SHENZHEN, China (Reuters) – A prominent Chinese lawyer who served on the board of telecoms equipment giant ZTE Corp has resigned after several news articles in state-backed media reported that he was under investigation for alleged sexual assault. ZTE said in ... More »
LONDON/RIYADH (Reuters) – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been ... More »
(Reuters) – Australia’s corporate regulator said on Wednesday it has been conducting long-term on-site monitoring at the offices of major banks and wealth manager AMP Ltd (AMP.AX) since October, after a probe into the sector revealed wide-ranging misconduct. T... More »
MILAN (Reuters) – European shares rose on Wednesday driven by the export-oriented autos and tech sectors as optimism grew that the United States and China could avoid a full-blown trade war that would further brake a slowing global economy. The pan-European ST... More »
LONDON (Reuters) – European shares edged up on Friday, buoyed by a bounce on Wall Street as a turbulent week drew to a close and investors licked their wounds after the region’s benchmark STOXX 600 sank to its lowest level since U.S. President Donald Trump’s e... More »
BERLIN (Reuters) – Germany will not withdraw its political support for the Nord Stream 2 gas pipeline with Russia, its foreign minister said on Monday, as some lawmakers suggested curtailing the project to punish Moscow for its seizure of Ukrainian ships and t... More »
(Reuters) – Oilfield services provider Halliburton Co (HAL.N) on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity. Halliburton has benefited... More »
NEW YORK (Reuters) – U.S. fund managers are barreling into the energy sector by making broad bets on anything connected with oil, finally convinced that gains in crude prices – on track for their fourth consecutive quarterly gain, the longest such stretch for ... More »
NEW YORK (Reuters) – One of the year’s most popular events for fund managers, the Sohn Investment Conference, will be held in New York on Monday, but if history is any guide, some of the industry’s lower-profile managers will probably provide the most profitab... More »
FILE PHOTO: Freight trucks are driven on the Fisher freeway in Detroit, Michigan, U.S., March 27, 2009. REUTERS/Rebecca Cook/File Photo SEATTLE/BOCA RATON, Fla. (Reuters) – The drive for cost cuts and higher margins at U.S. trucking and railroad operators is p... More »
FILE PHOTO: The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, February 23, 2018. REUTERS/Staff/Remote LONDON (Reuters) – European shares traded higher on Monday morning with gains across bourses and sectors as focus ... More »
(Reuters) – British oilfield services provider Petrofac said its top management, including its chairman and executive directors, would be interviewed by Britain’s Serious Fraud Office (SFO) regarding an ongoing investigation into suspected bribery and corrupti... More »
Japan’s Defence Minister Itsunori Onodera attends a news conference at Defence Ministry in Tokyo, Japan August 8, 2017. REUTERS/Issei Kato TOKYO (Reuters) – Japan is to acquire medium-range, air-launched cruise missiles, capable of striking North Korea, a cont... More »
FILE PHOTO: A boat is seen close to oil installations at Lake Maracaibo in Cabimas, Venezuela October 5, 2017. Picture taken October 5, 2017. REUTERS/Isaac Urrutia HOUSTON/DUBAI (Reuters) – As Venezuela’s dilapidated energy sector struggles to pump enough crud... More »
General Electric Co's (GE.N) new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focused company, surprising some investors who sold the company's shares to a five-year low. More »
Singapore's DBS Group Holdings (DBSM.SI) booked an unexpected slide in quarterly profit on Monday, with income falling 23 percent to a five-year low as it nearly doubled provisions for loans to the troubled oil and gas industry. More »
Oil prices are unlikely to rise much beyond this month's two-year highs this year, as concern among analysts persists that growing U.S. shale output will hamper the rebalancing between global crude supply and demand, a Reuters poll showed. More »
Cadwalader, Wickersham & Taft LLP said on Monday that it hired former U.S. Federal Trade Commission (FTC) attorney Bilal Sayyed to strengthen the law firm's antitrust practice. More »
The world's largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers' oil and gas projects - investing in the same ventures it supplies with equipment and expertise. More »
Investors piled back into European stocks on Wednesday, boosting indexes higher in a relief rally after geopolitical concerns caused a sharp dip across equity markets. More »
BlackRock Inc's (BLK.N) largest mutual fund hiked its exposure to "select names" in energy as the sector has lagged this year, one of its portfolio managers said on Thursday. More »
ConocoPhillips Chairman and Chief Executive Officer Ryan M. Lance (C) rings the closing bell at the New York Stock Exchange (NYSE), February 27, 2013. ConocoPhillips (COP.N) cut its 2017 capital spending by 4 percent on Thursday, the latest U.S. oil and natura... More »
FILE PHOTO – A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County, Texas, U.S. on January 13, 2016. REUTERS/Anna Driver/File Photo In today’s U.S. shale fields, tiny sensors attached to pro... 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 »
A trader looks at screens while working on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 27, 2017. REUTERS/Lucas Jackson Some of the actively managed funds that have performed the best since the Nov. 8 presidential election are switc... 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 »
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. REUTERS/Heinz-Peter Bader OPEC will have to extend its oil output curbs in order to sust... 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 »
The ticker and logo for General Electric Co. is displayed on a screen at the post where it’s traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2016. REUTERS/Brendan McDermid Shares of oilfield services company Baker Hug... More »
A man carrying an umbrella passes as storm clouds gather over Shell’s Pulau Bukom oil refinery in Singapore, December 17, 2014. REUTERS/Edgar Su/File Photo During Singapore’s full moon festival last month, employer John Kong was focused more on cost-cutting th... More »
The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015. REUTERS/Richard Carson Investment in exploration and production will have to start increasing soon to help balance the global oil market, Schlumberger CEO Paal Ki... 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 »
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 »
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 »
SYDNEY Australian tax authorities on Thursday took the unprecedented step of publishing the records of hundreds of companies, including Google Inc (GOOGL.O) and Apple Inc APPL.O, which show they paid little or no tax on their in-country earnings. Of more than ... More »
Banks’ exposure to junk-rated companies and the oil and gas sector remains high, according to an annual report on loan quality by U.S. bank regulators released Thursday. The regulators gave a negative classification to $372.6 billion out of $3.9 trillion in lo... 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 »
General Electric Co (GE.N) said on Monday it was cutting 262 more jobs at its Lufkin oil unit in Texas and closing a foundry as it grapples with the plunge in global oil prices. GE earlier this year said it planned to eliminate some 575 jobs from Lufkin, bring... More »
